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USD/CAD remains well offered

USD/CAD is capturing attention with its sustained price move and soaring volatility.

The search for a low in today's trading is reflected in the 2-standard deviation bands expanding for several consecutive hours. Moreover, the near-term technical picture shows recent close prices printing below the 50 exponential moving average, a bearish condition that should it persist, would help maintain prices below the SAR indicator.

The parabolic SAR has yet to switch direction after two sessions of downward price movement. By doing so means shorts are taking profit. Risks exist the volatility and down drift extend to higher time frames.

Despite positivity, GBP dips

Positivity emerged from the UK yesterday by way of improved retail sales – a usually solid indicator of economic performance – with an increase by 0.2% this month as opposed to August’s 0.0% result. Food sales were seen to decline by 0.9%, however, which posed a slight drag on elation, but overall the mostly positive sentiment we’re seeing did little to boost Sterling’s worth, resulting in a drop by 0.2% against the euro and 0.1% drop against the dollar. There is not much on the UK’s calendar
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US stocks: Is this the turning point (lower)?

The movements of stock prices in the days prior to the Fed’s rate decision on Thursday appeared to be the typical “buy the rumour, sell the news” sort of behaviour. But when the news hit the wires, traders initially hesitated to push the ‘sell’ button because there was an element of surprise in the FOMC statement that was probably not priced in. Not only did one FOMC member vote to cut rates into the negative, but the dot plot showed that the median policy maker now expects core inflation to
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