September 15, 2016. The CAD currency is the strongest. The GBP is the weakest.
The technical problems earlier in the day, prevented the strongest and weakest snapshot of the day. So as the London traders exit and NA traders burp after lunch, I thought I would take a snapshot of what currencies are winning and which are losing.
The winners are the commodity currencies with the CAD leading the table. Crude oil prices are higher (at $44.09 up 1.17%). Technically, the USDCAD fell below a trend line and tumbled in the NA morning session but has stalled against the 100 hour MA (see earlier post outlining the support target).
The loser today is the GBP. The BOE kept rates unchanged today and said the window was open for further cuts toward 0% if needed. They did say that things were better than expectations.
In the US today, there was a bunch of data. The dollar is more lower than higher. It is higher vs. the EUR and JPY but is lower against the other major currencies.
The ranges show that most of the currency pairs have reached or got close to the 22-day average ranges. Looking at the changes, the major currency pairs have traded higher and lower around the unchanged line. The USDCAD has moved the most vs the 0 line. It is down about 50 pips on the day. It is trading closer to the extreme for the day.
Overall and up and down day for most pairs. The changes on the day are fairly limited. That perhaps is reflective of the mixed data. Like yesterday, the action is slowing down too.
