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Forex Flash: 10-year US Treasuries point to consolidation – RBS

Investors continue to see a 1.70% to 2.13% range in 10-year US Treasuries. Key resistance remains 2.13% for 10-years, with first support at 1.94%. According to the RBS Research Team, “Near term support is 1.80%; a break through here should see extension towards 1.70%, though the daily charts continue to point to consolidation.”

Treasuries have staged a modest rebound as Bunds have ticked higher after Berlusconi of Italy was sentenced to a 1-year jail term and German factory orders disappointed. Asian stock markets were mixed but the Nikkei traded above 12,000 for the first time since Sept. 2008.

Our overnight Treasury flows saw light and sporadic buying and 10-years traded in just a 1+ tick range for most of the day, while in European hours we saw buying in T-Bills and some selling in MBS out of Asia and little else. Total Treasury inter-dealer broker volume was just 56%.

Forex Flash: USD/CAD in pullback to 1.0255/60 and maybe 1.0200/10 – TD Securities

The BoC managed to find a way to hold onto their mild hawkish bias, but rate hikes are now even more distant over the horizon.  “While the CAD sold off sharply on the announcement, the ‘lower for even longer’ message was not entirely surprising considering the string of weak Canadian data recently, and the fact that USD/CAD did not manage to make new highs for the year suggests some softening of the hawkish language was already priced in”, wrote analysts Shaun Osborne and Greg Moore, expecting tomorrow’s employment report to show more give-back of the strong increases in the final quarter of 2012. 
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Forex: USD/CAD falls below 1.0300

The USD/CAD is falling the last hour pressuring as the risk appetite environment is back on the upbeat speech made by ECB's Mario Draghi, confident in Eurozone's economic recovery, and the 40% repayment of the LTRO lending programme.
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