OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/CAD bounces off lows to 1.0216/18 after Canadian retail data

FXstreet.com (Barcelona) - The USD/CAD has managed to bounce off a session low of 1.0199 Thursday on the heels of economic data out of the US and Canada. Having bottomed out in this region, the cross has managed to pare a part of its losses to recover nearly 18 pips to settle at 1.0216/18 in these moments.

In the United States, Initial Jobless Claims (March 17) came in at 336K, against expectations of 342K, and compared with 334K previously. In addition, Continuing Jobless Claims (March 10) were reported at 3.053M, exceeding estimates of 3.050M, and relative to 3.024M previously. In Canada, Retail Sales (MoM) rose +1.0% in January, beating projections of +0.9%. Finally, Retail Sales ex-autos (MoM) experienced a gain of +0.5% in January, vs. +0.3% expected.

The pair is sustaining a fall of -0.40% on the day thus far. Consistent with the calculations of Research Analyst Gareth Berry at UBS, “We reiterate a bullish stance on the USD/CAD – the latest strength reinforces the broader bullish theme. A break above 1.0296 would open 1.0366 and then 1.0447, while support is at 1.0214 ahead of 1.0181.”

Forex: USD/JPY recovers the mark of 95.35/36 after US jobs data

The USD/JPY has fallen precipitously during European trading Thursday, as the pair relinquished its hold on the 96.00 level earlier, falling to an intraday minimum of 95.08. This proved to be the bottoming out of the collapse, which on the heels of US data, now proved the impetus for a short-term recovery towards 95.35/36 in these moments. However, the pair is still incurring a loss of -0.68% off its opening.
Read more Previous

Forex: USD/CHF at 0.9460 after US jobless claims

The USD/CHF rose to as high as 0.9474 high on the European opening as Markit PMI data across Europe disappointed investors, also with a German manufacturing drop below the 50.0 threshold. Then, the market retraced gains back to the 0.9450 area before getting back up ahead of the US data. The pair trades at 0.9460 as of writing.
Read more Next
Start livechat