The snapshot of the major currencies shows the NZD is the strongest and JPY is the weakest

USD mixedAs the market moves to the beginning of the american trading (European equities soaring), and we expect the ISM index, Construction spending, oil inventories and the FOMC decision later today, the NZD is the strongest (better employment conditions) and the JPY is the lowest (no flight to the safety of the JPY). We have the rest of auto sales coming out today too (Ford increase of 6.1% vs 5.1% et to be released now).

The ranges for the major pairs, with the exception of the NZD — are all hanging below their 22 day average of signalling non-volatile of trading. The EURUSD has only 43 pips range, but it is trading at session lows as I type. USDJPY, USDCHF is also trading at highs now.

Snapshot of other markets:

  • Spot gold of $2.70 or 0.22% to $1273.76
  • WTI crude oil is up $0.55 to $54.96 before the inventory data. The private API of the data showed larger than expected withdrawals yesterday.
  • US yields are showing a flat yield curve play. 2 years is up 2.4 bp. 10-year is up 0.3 bp. The 5-year period is up 1.6 bp. The 30-year decline of -1.1 bp
  • US stock futures are on pre-sale on the market. S&P futures up 8.8 points. The Dow futures are up 130 points. The Nasdaq futures are 22.50 points. Faceook and Tesla are two companies releasing after the closing

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