Technical Analysis

The CAD is the strongest while the AUD is the weakest.

The USD is little changed against most currencies

It is a a holiday in Europe and Canada today in observance of Easter Monday, but in the US, it is a full day with the stock, futures and bond markets all open. The forex market is also open today (as it was on Good Friday too). The difference today is that the US stock and bond markets are open today.  

In the forex market, the CAD is the strongest. Crude oil prices are up 2.2% at $65.42 as the US announced that Iranian sanction waivers would end on May 2.  China, India and Turkey had been expecting to receive a renewed waiver to continue to buy Iran’s oil.  Pres. Trump is pushing Saudi Arabia to release more oil to offset the shortfall from Iran.  Higher oil tends to help the CAD. 

The AUD is the weakest and has taken another run at the 100 day MA at 0.7135. The price is currently trading right at that level with a low at 0.7133.

The ranges and changes are reflecting the holiday-type markets. The largest range is the USDCAD at 38 pips. That pair is down -27 pips in the morning snapshot. The EURUSd is only trading in a 16 pip range. The GBPUSD is in a 17 pip range despite rumblings that PM May will be forced to resign. 

The ranges and changes are showing holiday like trading

In other markets:

  • Crude oil is up $1.66 or 2.59% at $65.76
  • Spot gold is up $3.66 or 0.29% at $1279.07

In the pre-market for the US stocks, prices are lower:

  • Dow, -76
  • Nasdaq down -36 pointd
  • S&P -8.43 points

In the US debt market, yields are higher marginally.

US yields are higher

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