A snapshot of the strongest and weakest currencies as NA traders enter

March 30, 2017. The GBP is the strongest. The EUR is the weakest.

A snapshot of the strongest and weakest currencies shows that the GBP is the strongest while the EUR is the weakest.  The EUR was undermined by lower inflation concerns out of Germany and Spain.  

The GBPUSD found support against the 1.2400 and pushed through the 100 day MA and higher toward the 200 bar MA on the 4-hour chart. This MA was tested yesterday and failed.  The market is testing now and is looking to do the same thing (see chart below). Rally sellers in the GBPUSD are leaning on the test.   

Below is a look at the changes and trading ranges for the major currency pairs and cross currency pairs. Most of the ranges are below their 22 day averages with the EURUSD low at 39 pips (vs average of about 74 pips). There is room to roam on an extension.

GDP for 4th quarter (3rd cut) is expected to come in at 2.0%

US Initial jobless claims are expected to come in at 247K va 261K last week,

Canada will release IPPI, +0.4% est and RMPI, est +0.9%

Gold is down $-2.60

WTI crude oil is up $0.30

10 year yield is unchanged at 2.376%

S&P futures are down -2.5 points and Nasdaq futures are down -5.25 points in pre-opening trading.

A snapshot of the strongest and weakest currencies as NA traders enter
A snapshot of the strongest and weakest currencies as NA traders enter
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