USD is mostly lower
Two commodity currencies are leading the table of the strongest and weakest currencies today. The CAD is the strongest on favorable NAFTA reports overnight, while the NZD is the weakest as North American traders enter for the day. The USD is mostly lower with gains vs. the NZD and near unchanged vs. the AUD.
The USDCAD is getting a push to new lows as traders enter. It is trading down -92 pips and tests the 200 hour MA at 1.2975. Key technical level tested at the start of the day.
The ranges for most of the pairs are somewhat contained (most are well below their 22 day averages). Of course by the end of the day, we will have the FOMC rate hike, statement, press conference and dot plot which will likely push the ranges outside the current ranges.
A snapshot of other markets is showing:
- Spot gold is trading up $5.56 or 0.42% in $1316.85
- WTI crude oil futures trading up a dollar 34 or 2.16% at $63.40. It continues its run to the upside after testing $60 over the last week or so
- Bitcoin is trading at $9062 up $157 on the day
US yields are trading near closing levels from yesterdayL
- two-year 2.349%, +0.4 basis points
- five-year 2.703%, +0.6 basis points
- 10 year 2.899%, +0.4 basis points
- 30 year 3.127%, unchanged
The premarket futures imply modest declines
- Dow Jones features imply a- 14 point decline
- NASDAQ futures imply a -14.25 decline
- S&P futures imply an unchanged opening.
