The USD is consolidating in up and down trading for the EURUSD/GBPUSD. The USDJPY is down. | Forexlive

The EURUSD and the GBPUSD have traded up and back down in trading today. The pairs are trading between the 100/200 hour MAs to start the day. The USDJPY is lower in trading today but did find support buyers near the lower 200 hour MA.

In the video below, I go through the technical levels in play for the 3-major curency pairs to kickstart the US session.

The economic calendar is full with a slew of varios releases:

• 8:15am CAD Housing Starts – Estimate: 227K, Prior: 214K

• 8:30am CAD Manufacturing Sales m/m – Estimate: -1.8%, Prior: 0.2%

• 8:30am CAD Wholesale Sales m/m – Estimate: -0.4%, Prior: 0.3%

• 8:30am USD Core PPI m/m – Estimate: 0.3%, Prior: -0.1%

• 8:30am USD Core Retail Sales m/m – Estimate: 0.3%, Prior: 0.5%

• 8:30am USD PPI m/m – Estimate: 0.2%, Prior: -0.4%

• 8:30am USD Retail Sales m/m – Estimate: 0.0%, Prior: 1.4%

• 8:30am USD Unemployment Claims – Estimate: 229K, Prior: 228K

• 8:30am USD Empire State Manufacturing Index – Estimate: -8.2, Prior: -8.1

• 8:30am USD Philly Fed Manufacturing Index – Estimate: -11.3, Prior: -26.4

• 8:40am USD Fed Chair Powell Speaks

• 9:15am USD Capacity Utilization Rate – Estimate: 77.8%, Prior: 77.8%

• 9:15am USD Industrial Production m/m – Estimate: 0.2%, Prior: -0.3%

• 10:00am USD Business Inventories m/m – Estimate: 0.2%, Prior: 0.2%

• 10:00am USD NAHB Housing Market Index – Estimate: 40, Prior: 40

US stocks are lower with the futures implying:

• Dow Industrial average futures implying a decline of -178 point
• S&P index futures are implying a decline of -28.58 points
• Nasdaq futures are implying a decline of -130.71 points

In the European markets, the major indices are mixed:

• German Dax, -0.15%
• France’s CAC, -0.24%
• UK FTSE 100, +0.15%
• Spain’s Ibex, +0.10%
• Italy’s FTSE MIB, -0.29%

In the US debt market, yields are lower

• 2-year yield 4.024, -3.5 basis points
• 5-year yield 4.137%, -2.5 basis points
• 10-year yield 4.513%, -2.9 basis points
• 30-year yield 4.958%, -1.8 basis points

In other markets:

• Crude oil down down $2.25 at $60.56
• Silver down four cents at $32.16
• Gold is up $4.40 at $3180.64
• Bitcoin is trading down $1177 at $102,354