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

March 24, 2016: GBP is a strongest. AUD is a weakest.

We are a within 24 hours of European's long Good Friday/Easter Monday weekend. That can have an impact on trading flows and liquidity - especially in light of the recent terrorist acts. People will simply shy away from having positions. So be aware.

As the day begins, the strongest currency is the GBP. The GBPUSD has been hit hard over the last 3 trading days moving from a high of 1.4513 to the low today of 1.4056. The low price last week came in at 1.40519 - just 4 or so pips from the low today. Let's call that "lap around the track" complete. The bounce in the GBPUSD helped to rise the value of the other major currencies against the pair.

The weakest currency is the AUD as commodities continue to slide. The CAD is also down vs the majors. The NZD had bettter trade data to start the trading day but has given up some of those gains.

Crude oil prices are down 2.21% at $38.91. Gold moving lower as well. US stocks are looking to open lower with the S&P futures down 11 or so point. The France Cac is down 1.8%. The German Dax is down 1.3%. Fed's Bullard is due to speak at 8:15 AM followed by Durable Goods orders (-3.0% est, Ex trans -0.3%e, Cap goods order nondef ex air -0.5%e) and weekly initial claims (est 269K) at 8:30 AM ET. Flash Markit PMI (51.4e) will be released at 9:45 AM ET/1345 GMT)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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