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Forex Flash: USD and CAD may rebound soon – UBS

FXstreet.com (Córdoba) - On Friday the US and Canadian labor market data for March disappointed, notes the UBS analyst team. According to UBS analysts, March was a challenging month with heavy snow that caused an unusual strong distortion to traffic.

"We think, another month of data is needed, before a final assessment about a potential slowdown in the US and in Canada can be discussed", they say. "Market action was driven primarily by the need to clear positions, which gives us confidence that the USD and the CAD may rebound soon".

Forex: EUR/JPY consolidates after setting 3-year high

The euro reached yet another multi-year high versus the yen on Monday as the BoJ started its bond buying program aimed at fight deflation and boost growth. EUR/JPY extended gains to a peak of 128.82, last seen on Jan 17, 2010 before losing steam.
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US Markets in red as NFP still weights

Equities in the US markets are trading in the defensive territory on Monday, as traders are still digesting the poor data from March Payrolls alongside some logic profit taking. The greenback, tracked by...
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