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Forex Flash: USD/CAD corrections to be limited - TDS

USD/CAD has just kissed the 1.03 round number, and as Shaun Osborne, Chief FX Strategist at TDS, notes, "the downside risks will remain limited, with trend momentum bullish across a range of time frames, which means little scope for significant counter-trend corrections." The analyst adds that "even if we do see an extension lower in the next few days, losses should be limited to the high 1.01/low 1.02 zone."

Wall Street posts declines after easing rally, but closes Feb in positive

The US stocks market has closed the last day of February with red numbers as the major indexes retreated from highs to post losses at the last session hour. The Dow finished withing 100 points of 2007 record peak.
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Forex: NZD/USD nears 0.8225/30 support; break opens up 0.82

The New Zealand Dollar is weakening across a variety of asset classes, after downbeat NZ terms of trade data was published, with the read showing a 1.3% decline on a quarterly basis vs +1.2% expected. It is likely that the data was leaked ahead of the event, as the currency reacted with a 30 pips fall 5 minutes prior to the event.
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