USD/CAD – Support at 0.9940 and 0.9724 is expected to attract buying interest for a return to 1.0343. USD/CAD remains locked in a broad 0.9700-1.0400 trading range as overbought conditions caused the rejection of the top end of the range two weeks ago. A base building processis is underway, with support at 0.9940 and 0.9724 expected to [...]
FX Technical Trends - 4/10/08
April 10th, 2008 · No Comments
Tags: FOREX Technical Analysis
Event Risks for FX markets
April 10th, 2008 · No Comments
USD
Event risk: Mixed messages from the chain-store data but broad recessionary conditions and 4 consecutive falls in retail jobs suggest downside risk to consensus calling for a 0.2% rise in core retail sales (Mon). The ECRI leading index hints at still more potential downside for the Empire survey (Tue) and Philly (Thur). A 7%+ [...]
Tags: FOREX Market Commentary
Canadian Dollar Morning Comment - 4/8/08
April 8th, 2008 · No Comments
Overnight Spot Trading Activity: Cross Flows Fail to Push USD/CAD Higher Overnight
Asia: Despite interest to sell the CAD on the crosses, USD/CAD could not sustain an overnight move above short-term resistance at 1.0166 as overbought technical conditions attracted fund selling pressure. Early Asian flows set the tone for the overnight session, as a rally from [...]
Tags: USD/CAD