The GBP is the strongest and the AUD is the weakest as the NA session begins | Forexlive

The GBP is the strongest and the AUD is the weakest as the NA session begins. The GBP got a boost after flash manufacturing and services PMI came in stronger than expected (click here). The AUD wandered lower helped by sellers near the AUDUSD’s 200 hour MA (green line in the chart below). The price has dipped below the 100 hour MA and is trying to keep below that MA in early NA trading (see blue line in the chart below).

The GBP strength today is also being driven by the EURGBP which is tumbling lower after waffling between the 100/200 hour MAs ahead of the UK PMI data. The low briefly moved below the low from last week near 0.8797, but there is some “stall” against that level now. The 0.88195 will be eyed above for intraday clues. Stay below keeps the sellers in control. Move above and there may be more corrective momentum (after support held).

A snapshot of the markets are showing:

Spot gold is trading down $-9.60 or -0.52% at $1831.30
Spot silver is trading down eight cents or -0.37% at $21.71
WTI crude oil is trading up $0.47 at $77.02
Bitcoin is trading a bit lower $24,612

In the premarket for US stocks, the major indices are taken on the chin:

Dow Industrial Average -285 points after Friday’s 129.84 point rise
S&P index is trading down -31 points after Friday’s -11.32 point decline
NASDAQ index is -127 points after Friday’s -68.56 point decline

Walmart earnings to came out better than expected, but it’s not helping the averages (EPS $1.71 versus $1.51 expected, revenues $164.05 billion versus $159.76 billion expected. They also raise the dividend 2% to $2.28 per share. They did guide lower that $1.25 – $1.30 versus $1.36 expected. Shares are down -3.37% in premarket trading.

In the European equity markets, the major indices are also trading lower. Yesterday the UK FTSE 100 closed at a record high level (although the intraday high was short of the all-time high):