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Forex: USD/CAD regressing to 1.0200 line

FXstreet.com (Barcelona) - The risk-off sentiment in reaction to Cyprus news allowed the USD/CAD to jump above the 1.0200 line but to find resistance at 1.0250 area. During the European session, the pair became weaker and has been retracing gains since then, having reached 1.0205.

Both Canada and US data for today are out. The Canadian portfolio investment in foreign securities fell from $5.47B to $-1.18B in January, while the foreign portfolio investment in Canadian securities rose from $-1.92B to $13.34B, beating consensus of $7.85B. The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47.

“The market struggled to push higher through the 1.0350 earlier this month, opening the door for a modest consolidation/correction in funds after the strong rally from the par zone”, wrote TD Securities analyst Shaun Osborne and Greg Moore, adding that while there is not clarity on Cyprus, modest USD/CAD dips are a buy to the 1.02 area in the near-term.

Forex: USD/CHF trading positively at 0.9438/39

The USD/CHF faced an early rise on the heels of the news surrounding Cyprus, and for the most part the pair has held onto its gains during the European and US session. Having reached an intraday maximum of 0.9489 earlier, the pair has now found itself trading at just 0.9438/39 at the time of writing, still in positive territory up +0.05%.
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Forex: EUR/GBP testing resistances at 0.8563/65

The EUR/GBP has pared its losses nicely Monday during American trading, having put the overnight plunge surround Cyprus in the rear-view mirror. In these moments, the pair has recovered the mark of 0.8563/65, testing calculated support, having already risen +0.32% thus far.
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