April 28, 2015: AUD is the strongest. CHF is the weakest
As NY traders enter for the trading day, a snapshot of the major currencies vs each other shows the AUD is the strongest currency while the CHF is the weakest.
The AUD is up 1.26% vs the USD as Gov. Stevens disappointed by refraining from speaking about monetary policy in his speech last night. The AUDUSD also moved above the key 100 day MA for the first time since September 8, 2014. The CHF was weakened as the EURCHF surged by 0.71%. There is increasing feeling that the EU is benefiting from the QE stimulus, and that in turn, lessens the demand for the CHF as a safe haven currency.
The USD is down against all currencies with the exception of the Swiss franc. The market is expecting a weak GDP for the US tomorrow. The FOMC decision - which is also do tomorrow - is expected to show little material change from the prior meeting (i.e. Fed is data dependent and the data is not that great).
Today, S&P case Schiller composite index will be released for the month of February with expectations of a 0.7% increase (9 AM Eastern time). Consumer confidence will be released at 10 AM for the month of April (estimate 102.2 vs 101.3 last month). Finally Richmond fed manufacturing index will also be released at 10 AM with estimates of -2 vs. -8.
