Analytics

Forex News

Forex

USD/CAD: bearish post US session sell-off on Trump and US 10-year auction

22:00 11 January /2017 Forex

Currently, USD/CAD is trading at 1.3177, down -0.38% on the day, having posted a daily high at 1.3295 and low at 1.3119.USD/CAD has been a volatile drop from aforementioned highs due to US yields dropping on the aggressive bid in the 10-year auction, an uncommon event that otherwise has little market effect, but on this occasion it was an outside move and coupled with Trump's lack of conviction or clarity during the presser and much of the same bloating and Trump bullishness rather than anything factual or concrete, he failed to deliver on fiscal policy matters that had otherwise been supporting the dollar on the markets pure speculation."The CAD is not correlating particularly well with anything at the moment; by our measure, most key CAD correlations are low (and have been weakening), suggesting the CAD's relative strength in recent days is flow-driven or technical in nature. Or it may be that the market is simply disengaged still after the holidays and the CAD will start to respect wide, USD-supportive interest rate spreads and the recent drop back in crude oil prices more obviously once trading volumes pick up, suggested analysts at Scotiabank earlier.For more analyses around Trump, see hereUSD/CAD levels, bearish below 1.3180With spot trading at 1.3177, we can see next resistance ahead at 1.3190 (Yesterday's Low), 1.3192 (Daily Classic S1), 1.3225 (Hourly 20 EMA), 1.3225 (Daily Classic PP) and 1.3227 (YTD Low). Support below can be found at 1.3156 (Daily Classic S2), 1.3133 (Monthly Low), 1.3123 (Daily Classic S3), 1.3119 (Daily Low) and 1.3117 (Weekly Classic S1). "Resistance remains 1.3275/80 and we look for the USD to improve above here. Below 1.3180 and technical risks for the USD deteriorate further," offered the analysts at Scotiabank. 

to other news

all news
Fed's Yellen: Removal of monetary policy accommodation working well so far Felipe Erazo

Speaking at the Herbert Stein Memorial Lecture in Washington DC, Federal Reserve's chairwoman Janet Yellen stated that economy is doing well, but future downturns likely to require renewed use of unconventional policy.In a speech titled "Monetary Policy Since the Financial Crisis", Yellen stressed t

02:46 21 October /2017 Forex

Wall Street advances on Friday on heightened expectations of tax overhaul Eren Sengezer

Following a positive start to the day, major equity indexes in the U.S. extended their upside as investors cheered the US Senate's approval of the 2018 fiscal year budget plan, which would open the door for the Republicans to go through with their tax reform without the support of the Democrats.“It

23:23 20 October /2017 Forex

Bitcoin preserves gains near $6000, on track to close fifth straight week higher

Following last week's record-setting rally, the BTC/USD pair made a technical correction during the first half of the week before gaining traction on Thursday and surging to a new all-time high on Friday. At the moment, the pair is trading slightly below its record high of $6030 at $6000, up $300, o

22:46 20 October /2017 Forex