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Forex: USD/CAD testing support at 1.0185 after weak consumer confidence

FXstreet.com (Barcelona) - The USD/CAD has moved lower and bottomed out at the 1.0165 (intraday minimum) region in recent minutes, only to recover slightly towards its support at 1.0185. In these moments the pair is trading at 1.0179/82 Tuesday, having just learned of weak US economic data during American trading.

In the United States, Consumer Confidence (March) came in at 59.7, missing expectations of 68.0. In addition, New Home Sales (MoM) were reported at 0.411M in the month of February, which failed to meet estimates of 0.422M. Finally, New Home Sales change (MoM) has declined -4.6% in February, compared with a growth of +13.1% in the previous month.

At the time of writing, the pair is incurring a steadfast loss of -0.32% off its opening. According to the ICN.com analysts, corrective measures of support lie ahead at 1.0185, then 1.0140, and finally the 1.0100 barrier. Conversely, resistances for the USD/CAD will initiate at 1.0215 onto 1.0260 and ultimately 1.0295

US: Consumer Confidence yields figure of 59.7 in March

Consumer Confidence, as measured by the US Confidence Board, has yielded a value of 59.7 in the month of March, beating consensus estimates of 68.0, falling vs. 68.0 in the previous month.
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Commodities Brief – Gold loses grip on 1600 support, crude oil holds above 95.00

Gold has fallen for a third straight session, this time falling below the key 1600 barrier/support Tuesday during American trading. With the dust settling in Cyprus and the banking quagmire there slowly resolving, the yellow metal managed to trade lower in recent moments, despite the release of downtrodden US economic data (Consumer Confidence in March 59.7 vs. 68.0 expected). At the time of writing, gold prices have settled at USD $1597.01 per oz. A close above 1600 would lend a degree of confidence to gold bears, though at this rate the metal is still slated to notch a monthly gain in March, which when viewed with previously monthly performances, has to be seen as a minor positive.
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