Forex Trading For Beginners 2021: The AUD is the strongest and the NZD is the weakest as NA traders enter for the day

The USD is weaker

As the North American session gets underway, the AUD is the strongest and the NZDUSD is the weakest. Asian shares rebounded higher to start the week, despite the weakest China Caixan PMI index since April 2020 (50.3 - just above the expansion benchmark). The EU PMIs came in near expectations with limited impact. German retail sales were better than expected at 4.2% vs 1.9% estimate. The US ISM manufacturing index will be released at 10 AM today with this meant at 60.8 versus 60.6. The less followed Markit PMI (Final) is expected at 63.1 versus 63.1 preliminary (released at 9:45 AM ET). US construction spending will also be released at 10 AM ET with expectations of 0.4% vs -0.3% last month.

US stocks are higher in pre-market. Yields in the US remain low with the 10 year around 1.22%-1.23%. Feds Kashkari and Brainard warned of potential headwinds from the the Delta variant. A total of 122,000 new cases were reported on Sunday. That is the highest since February (the good news is that the death rate remains low). The U.S. Senate reached a agreement on the wording for the $1 trillion infrastructure bill. That leads the way for a vote in the Senate as early as this week. The voting in the House of Representatives might not go as well as speaker Pelosi has tied the bill to an additional $3.5 trillion spending package.

In Canada, it is a holiday in observance of Civic Day although some banks remain open.

The low to high trading ranges are light to start the day:

EURUSD 38 pips vs 59 pip average over the last 22 days
GBPUSD 48 pips versus 95 pips average of the last 22 days
USDJPY 28 pips versus 57 pips average of the last 22 days
USDCHF 19 pips versus 54 pips average over the last 22 days
USDCAD 36 pips versus 101 pip average of the last 22 days
AUDUSD 38 pips versus 65 pip average of the last 22 days
NZDUSD 34 pips versus 72 pip average of the last 22 trading days

A look at markets shows:

Spot gold is trading down -7 dollars and -0.3% at $1807.50.
Spot silver is down five cents -0.20% at $25.40
WTI crude oil futures are down $0.89 or -1.2% $72.78
the price of bitcoin is trading at $39,505.18, just below the $40,000 level. The price high over the weekend reaches highs $42,400

In the premarket for US stocks, the major indices are higher after Friday's declines.