USD is king. GBP is the dog.

Technical Analysis

Stocks are near highs, Gold down, Yields higher.

A snapshot of the forex market is showing the USD is king while the GBP is the dirty dog.  

The USD is up vs. alll the major currencies with the biggest gain vs the GBP (up 1.03%). The weakest gain for the greenback is a 0.23% rise vs the CAD.   The AUD and NZD have seen the dollar rise by 0.81% and 0.90% respectively.

Looking at the ranges and changes vs the major currencies below, the USD is trading near the highs vs all the pairs with perhaps the exception being the CAD.  The dollar is king.

For the GBP pairs, they are showing pound weakneess, but although the pound is the dirty dog for the day (the weakest), the major pairs (apart from the GBPUSD) are off the low levles.  So it is not a total disaster for the GBP.

the ranges and changes of the major currencies versus the US dollar

Catalysts for the dollar move today?

  • Perhaps impeachment fear is overblown (although it is not going away)
  • Trump saying US China deal may be closer than we think
  • US/Japan making some headway on their trade deal (although there are some roadblocks too).  

Stocks are higher after being lower earlier.  The major indices are trading near session highs (see chart below).

the US stock market is trading near session highs after trading lower earlier in the day

US yields are higher too helping to support the greenback. The U.S. Treasury will be auctioning off five year notes at the top of the hour.

yields are higher across the board

Gold is also getting hit (down -$25 at $1506.65 after trading as high as $1535 earlier in the day. 


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