GBP rises on better GDP, while the AUD fell after weaker CPI

The other major pairs muddles. Durable goods and BOC on tap today. The GBP has soared in the London morning session, after better-than-expected GDP data and supportive technical sent the pair screaming higher. The AUD is the weakest after the CPI data was weaker than expected. The USD is the most losses against the high flying GBP and a little lower vs EUR.

As for the rest of the major pairs against the USD are making very little. The EURUSD has a 29 pip trading range. USDJPY 50 pip range. The USDCHF has 45 pip range. The USDCAD — which will work through the Bank of Canada decision at 10 pm ET/1400 GMT — 54 pip range. All pairs are below their 22 day averages (but compared to the Asian session, they are better).

A snapshot of other markets shows:

  • Spot gold down -$3.39 $1273.45
  • WTI crude oil is down$0.16 to $52.31
  • US yields are higher. The past 10 years at the top of the key with 2.4% yesterday, and up to 2.55 bps today to 2.444%. The 2 year is at 1.6029%, up 2.2 bp. The 5 years is 2.0608%, up 1.7 bp. 30 years is 2.9567%, an increase of 2.44 bps
  • US pre-market, inventories are lower than at this day. S&P futures are down 3.75 points. The Nasdaq futures are down -11.25 points. Dow futures are down 12 points.

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