May 4, 2016: The EUR is the strongest. The CAD is the weakest.
As North American traders enter for the trading day, the EUR is the strongest of the major currencies, while the CAD is the weakest. However, take note that the changes from yesterday's closing levels are bunched together. So there is no real dominant currency today.
We are moving toward the all important NFP and have the ADP report in a few minutes, so the market is a bit hesitant (or so it seems).
The ranges and changes chart show that there has been some movement in some of the pairs today. The USDJPY moved higher but is back near unchanged on the day. Most of the major pairs are near the 0.0 unchanged on the day line, but the ranges are really not bad for some of the pairs at least.
There are a bunch of data out today, so look for the market to take clues from the data with the ADP employment and the ISM Non Manufacturing data to dominate.
