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Sunday, August 1, 2021

The GBP is the strongest and the CHF is the weakest as NA trader enter for the day

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The USD is mixed ahead of the ADP employment data for June

As North American traders enter for the day, the GBP is the strongest of the major currencies and the CHF is the weakest. The USD is mixed with modest changes versus the EUR, JPY, AUD and NZD. The greenback is higher verse the CHF and lower verse the GBP and CAD.  The ADP report came in at 692K verses estimates of 600 K.  Last month the number came in at 978K which wasmuch higher than the NFP report of 559K. US non farm payroll will be released on Friday (ahead of the 4th of July holiday weekend) with the expectations of 690K.  

The USD is mixed ahead of the ADP employment data for June

The ranges in comparison to the 22 day averages are very modest. The USDJPY has only an 18 pip range. The EURUSD (26 pips), AUDUSD and NZDUSD (30 pips) are the also trading at very modest ranges. The GBPUSD at 58 pips (avg of 95 pips) is the largest range, but that is still only 61% of the normal range. 

The ranges and changes for the major currency pairs
In other markets:
  • Spot gold is trading down $-1.66 or -0.09% at $1759.43.
  • Spot silver is up $0.11 or 0.45% at $25.86
  • Crude oil futures are up 79 cents or 1.08% at the $73.77
  • Bitcoin is trading down -$1156 or -3.2% at $34,995.81

In the premarket for US stocks:

  • Dow industrial average is down 49.29 points after yesterday’s gain of 9.02 points
  • S&P index down -5 points after yesterday’s 1.19 point gain (a new record)
  • NASDAQ indexis down 13 points after yesterday’s gain of 27.8 points (a new record)

In the European market,:

  • German DAX,-0.6%
  • France’s CAC, -0.5%
  • UK’s FTSE 100 -0.34%
  • Spain’s ibex -0.7%
  • Italy’s FTSE MIB, -0.7%

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