The GBP is the strongest and the AUD is the weakest


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Bond and stock markets are closed as the US honors Pres. George F.W. Bush

As the North American session begins, the GBP is the strongest (ups and downs continues as move toward Brexit vote), and the AUD is the weakest (GDP data disappointed).  The USD is mixed.   The US stock and bond markets are closed today in observance of the day of mourning for Pres. George F.W. Bush.  His funeral will be today.  Peace.

Looking at the ranges and changes, the GBPUSD and AUDUSD have the most volatility (for the same reasons cited above).  The other major pairs vs the USD have ranges less than 47 pips. THe EURUSD, USDCHF, USDCAD, NZDUSD are all within 12 pips of the closing level from yesterday.  The GBPAUD is the biggest pip mover. The GBPJPY is also running higher.  It is running into its 100 hour MA at 144.47 which is slowing the run higher. 

In other markets:

  • Spot gold is down $.91 or -0.8% at $1237.48
  • WTI crude oil futures are up $.05 or 0.09% at $53.28
  • Bitcoin on Coinbase is trading down $41.71 at $3856. The low for the year came in at $3456 reached on November 25

Although the US stocks markets are closed, the futures markets will be open until 9:30 AM ET. They are projecting higher levels after yesterday’s sharp sell off.  Futures imply:

  • Dow, +125
  • Nasdaq, +50
  • S&P, +17

The economic calendar for the US has been cleared but the US Beige book of anecdotal economic trends in the US as prepared by the Federal Reserve will be released at 2 PM ET. The Bank of Canada will announce their rate decision at 10 AM ET/1500 GMT with no change expected. 
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