Morning Kickstart Video North American traders return as oil surges on Middle East tensions

AI summary

<p class="PDq2pG_selectionAnchorContainer">The USD is trading mixed and little changed against most of the major currencies as North American traders return following the Labor Day holiday.</p><p>The forex market was open yesterday, but the U.S. and Canadian stock and bond markets were closed. As a result, liquidity and trading activity were lighter than normal. That changes today as U.S. and Canadian traders return to their desks.</p><p>The largest move in the forex market is in the NZDUSD, which is down around 0.60%. The other major currency pairs are all within 0.30% of yesterday’s closing levels.</p><p>The USDJPY is trading modestly lower after yesterday’s sharp decline. That move was triggered by a technical break below last week’s lows and the early August low near 155.20–155.29. Once that support gave way, the buyers gave up control and the sellers pushed the pair sharply lower.</p><p>The selling continued in today’s trading, taking the USDJPY to a low of 152.90 before rebounding toward 154.28. The rebound has taken the price well off the low, but it has not erased the technical damage from the break below 155.20–155.29.</p><p>In the morning Kickstart video, I take a technical look at the three major currency pairs—the EURUSD, USDJPY and GBPUSD—and outline the levels that will define the bias and risk for traders today.</p><p>The snapshot of the major currencies shows:</p><ul><li> EURUSD: 1.1615, down 0.05% </li><li> USDJPY: 154.23, down 0.08% </li><li> GBPUSD: 1.3532,