The CHF is the strongest while the GBP is the weakest as traders await the NFP report

Technical Analysis

The USD lower 

As traders await the US employment/NFP numbers, the USD is weaker but a not as much as the GBP in the morning snapshot. The CHF is the strongest of the majors today as it continues its ups and downs this week.   

The US Non Farm Payroll is expected to rise 145K after a 130K rise last month.   The other  expectations for the US employment report can be found HERE.  

The ranges and changes for the majors (sans the USDCHF) vs the USD are contained relatively. All the ranges are below their 22 day averages (about a month of data).  The EURUSD is only in a 26 pip range. The GBPUSD is in a 46 pips range which is well below the average of 112 pips.   

The ranges and changes of the major currencies.

Looking at the other markets, the snapshot ahead of the jobs data is showing:

  • Spot gold is up $2.58 or 0.17% at $1507.90
  • WTI crude oil futures are up $0.29 or 0.51% at $52.71

The US stock futures are implying a lower opening:

  • Dow, -62 points
  • S&P, -9.25 points
  • Nasdaq, -16 points

In the European market, the major indices are rebounding a touch:

  • German Dax, Unchanged
  • France’s CAC +0.2%
  • UK FTSE, +0.3%
  • Spain’s Ibex, +0.07%
  • Italy’s FTSE MIB +0.24%

In the US debt market, yields are up but only by a fraction of a basis point:

US yields are marginally higher

The European benchmark 10 year yields are also marginally changed/mixed from the close yesterday:

European yields are little changed and mixed

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