December 5, 2022

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The CAD is the strongest and the CHF is the weakest as NA traders enter for the day

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Yields are lower. Stocks in premarket trading are marginally higher.  Bitcoin is higher.

As the North American session begins, the CAD is the strongest of the majors, the CHF is the weakest.  The USD is stronger but marginally weaker vs the CAD and GBP.   In Australia overnight, the GDP came in better than expected but the AUDUSD moved lower as the focus may be working toward the USD as the important jobs report looms on Friday, followed by the Fed meeting later in the middle of the month.   Will the Fed officially signal the taper idea?  The start of the day is favoring the USD a bit. 

Yields are lower. Stocks in premarket trading are marginally higher.  Bitcoin is higher.

Looking at the ranges and changes, the USD pairs are showing ok ranges for the day (the USDCAD lags as the CAD and the USD are battling for the strongest currency with the GBP). The GBPUSD moved lower in the London/European morning session but has bounced in the early trading in North America and is back toward unchanged on the day.   The USDCHF is trading up 39 pips and is the biggest mover. That pair moved back below its 100/200 hour MA yesterday but rebounded back toward the 200 hour MA by the close. Today, the pair shot back above the MAs and sellers turned to buyers.  

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading up $3.22 or 0.17% of $1903.67.
  • Spot silver is trading up three cents or 0.11% $27.92.
  • WTI crude oil futures are trading higher by $0.57 or 0.84% at $68.30. 
  • Bitcoin is trading up about of thousand dollars or 2.89% at $37,382

In the premarket for US stocks, the major indices are trading marginally higher

  • Dow industrial average up 51 points
  • the NASDAQ index up seven points
  • S&P index up 3.5 points.

In the European equity markets, the major indices are mostly higher (the exception is the Spain’s Ibex).  Germany closed at a record level yesterday.

  • German DAX, +0.07%
  • France’s CAC, +0.22%
  • UK’s FTSE 100, +0.17%
  • Spain’s Ibex, -0.2%
  • Italy’s FTSE MIB +0.2%

In the US debt market, the yields are marginally lower.

US yields are lower

In the European debt market, the major indices are lower across the board with ranges between -1.3 basis points and -1.6 basis point.

European yields areEuropean yields are lower

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