The strongest and weakest currencies as NA traders enter for the day

Discussion in 'Technical Analysis' started by ForexLive, Sep 6, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    September 6, 2016: The As North American traders enter for the trading day, the AUD is the strongest currency while the USD is the weakest. The RBA kept rates unchanged at Gov Stevens last meeting. The pair was a bit supported into the decision and moved higher still as trading in London turned toward USD selling. The greenback is the weakest currency in trading today - falling against all the major currency pairs (at various paces). The top three beneficiaries vs the dollar - 1. The AUD, 2. The NZD and 3. The GBP. In NZ today, the GDT auction results will be released during the NY session. It can have a knee jerk reaction so be aware of the risk. Also on the docket today is the ISM Non Manufacturing PMI due at 10 AM with estimates around 55.0 vs 55.5. Last week, the ISM manufacturing disappointed. The IBD/TIPP Economic optimism Index will also be released with estimates at 48.1 vs 48.4. Labor Market conditions index (change in the level of a composite index based on 19 labor market indicators - released by the Fed) is expected is also due at 10 AM (no estimate/last at 1.0). It has been negative for the entire year with the exception of last month...

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