Technical Analysis

The USD is lower/mixed

As North America traders enter for the day, the AUD is the strongest.  The unemployment rate fell to the lowest levels since May 2012. The CAD is the weakest of the major currencies. The USD is mixed to lower.  It is down vs the EUR, JPY, CHF AUD and NZD, and higher vs the GBP and CAD.  

The ranges coming into the session are limited with all the major pairs and crosses below their 22-day averages (red line in the lower chart below).  The major pairs vs the USD have ranges less than 55 pips, which is relatively low.  

The Philadelphia Fed Business outlook, initial claims  will be released at 8:30 AM ET. Leading index will be released at 10 AM ET. In between, Fed’s Bullard will speak to the Economic Club of Memphis at 9:05 AM ET.  Later in the day (12:15 AM ET/1615 GMT), Fed’s Quarles will speak in NY on the Economic Outlook.  

  • Spot gold is up $2.00 at $1224.33
  • WTI crude oil is down -$1.00 at $68.76

THe US stock futures are implying a lower opening:

  • Dow -56 points
  • Nasdaq -19 points
  • S&P down -7


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