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Usd/cadTitle:
Asian Market Update : 30/04/2012
Yen at 2-month highs in the wake of disappointing BOJ and sluggish US GDP
Economic Data
(AU) AUSTRALIA MAR PRIVATE SECTOR CREDIT M/M: 0.4% V 0.3%E; Y/Y: 3.4% V 3.2%E
(AU) AUSTRALIA MAR HIA NEW HOME SALES M/M: -9.4% V +3.0% PRIOR (multi-year low)
(AU) AUSTRALIA APR TD SECURITIES INFLATION M/M: 0.3% V 0.5% PRIOR; Y/Y: 1.9% V 1.8% PRIOR
(NZ) NEW ZEALAND MAR BUILDING PERMITS M/M: 19.8% V 6.0%E
(NZ) NEW ZEALAND APR NBNZ ACTIVITY OUTLOOK: 36.1 V 38.8 PRIOR; BUSINESS CONFIDENCE: 35.8 V 33.8 PRIOR (8-month high)
(NZ) NEW ZEALAND MAR TRADE BALANCE (NZ$) 134M V 417ME
(KR) SOUTH KOREA MAR INDUSTRIAL PRODUCTION M/M: -3.1% V +0.2%E; Y/Y: 0.2% V 2.2%E
(KR) SOUTH KOREA MAY BUSINESS SURVEY MANUFACTURING: 90 V 85 PRIOR; NON MANUFACTURING: 85 V 82 PRIOR
(SI) SINGAPORE Q1 UNEMPLOYMENT RATE PRELIM: 2.1% V 2. ...
Title:
Canadian Dollar Gets a Boost in Forex Trading
Canadian dollar is getting a boost today in forex trading, receiving some help from disappointing US economic data. Indeed, a lot of the loonie’s gains today are coming as a result of disappointing news, and less about solid advances made by the Canadian currency.
US GDP data for Quarter 1 came in below expectations. Analysts had expected an annualized rate of 2.7 percent, but instead saw 2.2 percent. The disappointment is an indication that economic growth in the United States is slowing. Given that the Federal Reserve policy statement indicated that Ben Bernanke and company are ready to engage in more quantitative easing if necessary, this slowing economic growth is seen as a possibility of more easing.
The result is that the loonie is getting a boost against the greenback. Canadian ...
Title:
Forex Technical Analysis : 04/27/2012
- Forex Technical Analysis : 04/27/2012 -
(Timeframes: 30 minutes)
USD/CAD Technical Analysis
AUD/USD Technical Analysis
NZD/USD Technical Analysis
GBP/USD Technical Analysis
EUR/USD Technical Analysis
GBP/JPY Technical Analysis
EUR/CHF Technical Analysis
EUR/JPY Technical Analysis
EUR/GBP Technical Analysis
USD/CHF Technical Analysis
USD/JPY Technical Analysis
XAU/USD (Gold) Technical Analysis
XAG/USD (Silver) Technical Analysis
Crude Oil Technical Analysis
Title:
JPY Advances ahead of Bank of Japan
USD remains soft after Bernanke indicated that the door was open for more stimulus if necessary at yesterday's press conference. Markets seemed to focus on this despite the upward revisions to the growth outlook and downward estimates of the unemployment rate this year. Weekly initial jobless claims today came in higher than consensus with a print of 388k from the prior 389k which was revised higher from 386k. The 4-week moving average in initial claims rose by over 6k for the third straight week - not an encouraging sign for the labor market. With employment struggling to gain traction and mixed interpretations of yesterday's FOMC meeting, markets are likely to focus on data surprises and price action will be impacted by QE3 speculation as it is still on the table.
UST yields are lower ...
Title:
Forex Technical Analysis : 04/26/2012
- Forex Technical Analysis : 04/26/2012 -
(Timeframes: 30 minutes)
USD/CAD Technical Analysis
AUD/USD Technical Analysis
NZD/USD Technical Analysis
GBP/USD Technical Analysis
EUR/USD Technical Analysis
GBP/JPY Technical Analysis
EUR/CHF Technical Analysis
EUR/JPY Technical Analysis
EUR/GBP Technical Analysis
USD/CHF Technical Analysis
USD/JPY Technical Analysis
XAU/USD (Gold) Technical Analysis
XAG/USD (Silver) Technical Analysis
Crude Oil Technical Analysis
Title:
Technical analysis of the USD/CAD pair on April 26th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD has continued its bearish movement and the breakout of 0.9866 gave us a new sell signal.
All indicators are bearish.
The pair is currently testing the lower band its bearish channel (purple lines).
We continues to advise short positions as far as 0.9910 is resistance.
The breakout of 0.98 will give a new sell signal and open the way towards 0.9750.
In case of return above 0.9910, we will wait the breakout of 0.9950 to advise long positions.
See the previous analysis of the USD/CAD pair of April 25th, 2012
USD/CAD Analysis
Title:
Canadian Dollar Receives Boost on Better News
Canadian dollar is getting a boost today, thanks to better sentiment in the financial markets. Loonie is heading higher on better earnings news, as well as reduced fears about what’s next for the eurozone.
Loonie is heading higher today, thanks to a jolt from Apple. AAPL earnings are helping market sentiment, as well as adding to a growing list of companies whose Quarter 1 earnings beat expectations. The good news is helping many high beta currencies, including the Canadian dollar.
Also helping sentiment and boosting the loonie is the reduced fear about what’s next for the eurozone. A German bond auction saw weak demand, and many are assuming that’s because investors aren’t looking for safe, low-yielding investments. In the search for better yields, investors are turning to higher beta ...
Title:
US Dollar Mostly Weaker on Improved Sentiment
US dollar is mostly weaker as improved sentiment helps boost other currencies today. Concerns about the global economy, and about Europe, are fading a little bit, and that is helping other currencies against the US dollar. Greenback is not needed as a safe haven, and that is resulting in gains for a few other currencies.
An interest rate decision is expected from the Federal Reserve today. Many expect that the benchmark Fed Funds rate will remain steadily near zero. However, what Forex traders will really be considering is the policy statement from Fed chair Ben Bernanke. Many expect that Bernanke will continue to talk about the softer global economy, but that he will also present a more hawkish stance on raising interest rates.
While many expect that US interest rates will remain low ...
Title:
Dollar Weaker ahead of FOMC
Dollar Weaker ahead of FOMC
USD softer against all of its major counterparts except for the British pound. Sentiment is improving today as global equities are broadly higher and yield spreads in Europe continue to ease. US Treasury yields are up with the 10-year yields approaching the pivotal 2.00% and the dollar index is lower as it remains below its daily cloud and Kijun line. Due out shortly at 0830ET are March durable goods orders which are expected to decline by -1.7% from the prior +2.2% on the headline print.
The Federal Open Market Committee (FOMC) concludes its 2-day meeting today and with no change expected on policy, the focus will be on the bank’s updated projections and Chairman Bernanke’s press conference. With recent commentary from some of the more hawkish Fed officials ( ...
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