OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CAD retains a heavy feel – TDS

FXStreet (Barcelona) - Analysts at TD Securities note USD/CAD trading lower at the start of the NA after attempting a retest of 1.13 the figure overnight.

Key Quotes

“A bear wedge appears to be developing on the daily chart, which reinforces the risk of a move lower in the short term, perhaps targeting the bottom of the bear channel in the low 1.12s in short order.”

“The focus will be on the plethora of US data today, and reduced liquidity due to the US Thanksgiving holiday may trigger choppy trading for funds, as the market ponders the outcome of the OPEC meeting tomorrow and the release of Q3 GDP on Friday with an eye on the BoC meeting next week.”

“Price action should be contained within the 1.12-1.13 range today, with risks biased to the downside if US PCE prints lower than expected.”

US durable goods orders stronger than expected in October

New orders for manufactured durable goods in October increased USD1.0bn or 0.4 percent to USD243.8bn, the U.S. Census Bureau announced today.
Read more Previous

US personal income increases, but gains weaker than expected

US personal income increased USD32.9 billion, or 0.2 percent, and disposable personal income (DPI) increased USD23.4bn,or 0.2 percent, in October, according to the Bureau of Economic Analysis.
Read more Next
Start livechat