April 5, 2016: The AUD is the strongest. The CHF is the weakest
The AUD is the strongest currency and the CHF is the weakest as North American traders enter for the day. The EUR is not far behind the CHF. Both those currencies broke MA levels (100 hour MA) and they both just ran. Today is a holiday in Switzerland (and some other European countries as well) for Ascension Thursday, so the movement is no news driven. The dollar is positive vs the EUR, CHF, JPY and GBP (ag. the JPY and GBP, the moves are small). Against the commodity currencies, the greenback is not doing so well. Commodity prices are doing a little better today. In Australia, Retail sales and the trade balance were a bit better which poured water on the sellers from the cut earlier this week.
The trading ranges for most of the pairs are below their 22-day MAs with the exception of the CHF. SO there is some room for an extension.
It is Initial Claims Thursday. Fed officials are scheduled to speak.
