The USD is trading weaker at the start of the session
As the North American traders enter for the day, the CHF is the strongest currency, while the CAD is the weakest. The USD is weaker and reversing the afternoon gains from yesterday in the major US pairs.
Looking at the ranges, the volatility in the markets are showing that a number of the pairs have reached their 22 day averages. What we are also seeing is the averages for the last 22 trading days (red line in the chart below) are getting higher in the new trading year. That is good for trading the forex market. The USDCHF (and CHF pairs) have seen flows into the safe haven currency (see Mike's post here).
In other markets
- Bitcoin is rebounding from the south of $10,000 (and south of the 100 day MA) levels seen yesterday. Bitcoin on Bitstamp is trading at $11,627 up 3.81%.
- Spot gold is trading up about one dollar or +0.8% at $1328.30
- WTI crude oil futures are trading up eight cents 4+0.14% at $64.06
- US treasury yields are trading higher: two-year 2.053%, up one basis point. 10 year 2.61%, up two basis points. Thirty-year 2.886%, up 2.8 basis points
- US stock futures in premarket trading are little changed. S&P futures are down -0.25 points. Dow futures are up 19 points. NASDAQ futures are down -15 points
- European major stock indices are mixed: German DAX +0.41%. France's CAC unchanged. UK's FTSE, -0.44%. Spain's Ibex, -0.34%. Italy's FTSE MIB, up 0.1%
- 10-year yields are mixed in Europe. Germany 0.57%, up 1.1 basis point. France 0.845%, up 0.6 bp. UK 1.330% up 2.1 bp
