The USD is mixed and little changed vs the major currency pairs. Looking at the major currency pairs, with the exception of the USDCHF (+0.19%) and the GBPUSD (-0.30%), the other currency pairs are all within 0.09% of unchanged on the day. In the video above I take a look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD – from a technical perspective to kickstart the North American trading session. What isthe trading bias, the risks and the targets for each right now and I explain why. Get your trading day off to a good start.
The US that a series of attacks on Iranian targets. Crude oil prices are setting.
The North American session is highlighted by the June U.S. retail sales report, which will provide a key read on the strength of consumer spending following recent softer inflation data. Investors will also closely watch the weekly jobless claims figures and the July Philadelphia Fed manufacturing survey for fresh insight into labor market conditions and business activity, while Canada releases June housing starts before the U.S. data.
- 8:15 AM ET – Canada House Starts (Jun): 257.9K vs. 261.4K
- 8:30 AM ET – U.S. Initial Jobless Claims (week ending Jul. 11): 217K vs. 215K
- 8:30 AM ET – U.S. Continuing Jobless Claims (week ending Jul. 4): 1.815M vs. 1.814M
- 8:30 AM ET – U.S. Philadelphia Fed Business Outlook (Jul): 13.0 vs. 10.3
- 8:30 AM ET – U.S. Retail Sales MoM (Jun): 0.2% vs. 0.9%
- 8:30 AM ET – U.S. Retail Sales ex-Autos MoM (Jun): -0.1% vs. 0.8%
- 8:30 AM ET – U.S. Retail Sales Control Group (Jun): 0.5% vs. 0.7%
- 10:00 AM ET – U.S. Business Inventories MoM (May): 0.3% vs. 0.5%
- 10:00 AM ET – U.S. NAHB Housing Market Index (Jul): 35 vs. 35
- 10:00 AM ET – U.S. Pending Home Sales Index (Jun): 76.8 vs. 76.8
- 10:00 AM ET – U.S. Pending Home Sales MoM (Jun): -0.5% vs. 3.8%
Fed’s Logan and Schmid will be speaking today.
In the pre-market for the US stock market, the futures are implying higher levels with the:
- Dow up 85 points
- S&P -27 points
- Nasdaq -253 points
IN the US debt market, yields are higher:
- 2 year yield 4.161%, +3.1 basis points
- 5 year yield 4.287%, +3.2 basis points
- 10 year yield 45577%, +3.2 basis
- 30 year yield 5.113%, +3.0 basis points
in other markets
- Crrude oil is up $0.14 and $79.73
- Gold i down $24 at $4036
- Silver is down $1.15 and $56.68
- Bitcoin is down $753 and $64,197
This article was written by Greg Michalowski at investinglive.com.