OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CAD side-lined around 1.0160/65

FXstreet.com (Barcelona) - The Canadian dollar is trading flat against the greenback on Thursday, hovering over 1.0165/70 as risk-on mode is dominating the markets’ mood. Recall that GDP figures during January surprised investors, rising 0.2% on a monthly basis vs. 0.1% expected.

“Yesterday’s stronger than expected inflation print, rising 1.2%m/m on headline and 0.8% m/m on core helped to support CAD but had no impact on the market’s pricing of interest rates in Canada, currently pricing in no change in the next 12‐months”, signalled Camilla Sutton, Strategist at Scotiabank.

At the moment, the cross is losing 0.02% at 1.0164 facing the next support at 1.0150 (low Mar.27) ahead of 1.0055 (low Feb.18) and then 0.9995 (high Feb.7).
On the upside, a breakout of 1.0222 (MA10d) would open the door to 1.0251 (MA21d) and finally 1.0315 (high Mar.8).

Forex Flash: Economic recovery in Eurozone and US related to housing busts? – Goldman Sachs

Housing busts have long-lasting macroeconomic consequences, including sluggish recoveries and persistently high rates of unemployment. According to the Economics Research Team at Goldman Sachs, “The subpar economic recovery in the US and the recurrent crises in the Euro area periphery are in some way related to the preceding housing busts, however a slower-moving dynamic linked to housing busts is also becoming apparent and may have important economic implications: the shifts in migration patterns that take place following housing busts.”
Read more Previous

Forex Flash: USD index raised to 1m target of 84.50 – Westpac

The USD index uptrend given a fresh lease of life as the Eurozone crisis resumes. According to Global FX Strategist Sean Callow at Westpac, “We suspect it has further to run as the longer term ramifications of the new policy of bailing-in uninsured depositors and what it says about risk mutualization vs. private sector risk ownership sink in.”
Read more Next
Start livechat