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Forex: USD/CAD in 2-week lows below 1.0200

FXstreet.com (Barcelona) - The Canadian dollar is markedly advancing against its fellow neighbour on Monday, dragging the cross to 2-week lows in sub 1.0200 levels.

“With domestic developments still unfolding softly and external risks geared to downside at the moment, there do not appear to be many catalysts for a much of a deeper CAD rebound in the coming weeks”, writes Greg Moore, FX Strategist at TD Securities.

At the moment, the cross is down 0.38% at 1.0195 facing the next support at 1.0181 (low Mar.15) followed by 1.0160 (low Feb.22) and then 1.0055 (low Feb.18).

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Forex Flash: Eurogroup deal with Cyprus as the best now possible – Commerzbank

Commerzbank analysts believe that the Eurogroup €10B agreement with Cyprus was the best now possible: “Initially it will be of interest to work out who gave in in the end. The answer to that question is more than obvious: Cyprus did. The banking sector will be restructured radically and the creditors of the banks will have to cover most of the costs”, wrote analyst Lutz Karpowitz, cheering Eurogroup’s steadfastness, positive for the euro as clear boundaries were set for future problem countries.
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