OctaFX | OctaFX Forex Broker
Open trading account

USD/CAD deflates from highs, around 1.3050

FXStreet (Edinburgh) - The Canadian dollar is surrendering part of the recent strong advance vs. its American counterpart, taking USD/CAD to the 1.3050/45 band.

USD/CAD supported around 1.2900

Spot has been falling uninterruptedly since 11-year tops in the 1.3460 area recorded in late September, as CAD has found strong support in the recovery of crude oil prices and a favourable 2-year CAD-US spread.

Nothing worth mentioning data wise today, with only the US NFIB Business Optimism index surpassing estimates at 96.1 in September and Fed’s Bullard still considering feasible a Fed’s lift-off by year-end.

USD/CAD levels to consider

As of writing, the pair is up 0.46% at 1.3058 with the initial resistance at 1.3095 (Fibo 23.6% of 1.1916-1.3458) followed by 1.3181 (55-day sma) and finally 1.3458 (11-year high Sep.29). On the flip side, a breakdown of 1.2911 (100-day sma) would aim for 1.2900 (low Oct.9) and then 1.2869 (Fibo 38.2% of 1.1916-1.3458).

USD/JPY at fresh lows, S&P futures down 0.5%

The USD/JPY pair was pushed to a ten-day low of 119.55 as the activity in the S&P futures indicate a bout of risk aversion on the Wall Street ahead.
Read more Previous

Greece off the scores but still a never-ending story – BBH

Research Team at BBH, note that as a lightening rod for the global capital markets, Greece has surrendered and its role being taken up by China rough transition or the Fed's continued reluctance to hike rates six years since the recession ended and despite the achieving of unemployment levels rarely seen.
Read more Next
Start livechat