OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: In Canada, no change is expected - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that in Canada, no change is expected and the MPR will be released.

He sees that the market is already short CAD, leaving is asymmetrically exposed to the event. Nonetheless, in a risk off environment, the temptation will be for USD/CAD to drift toward 1.03. He writes, “We like CAD as a proxy for the US recovery in the medium term and I will again be spending more time on that one (if you remember the Maple Leaf monthly from olden days). US Beige book is at 2PM.”

Forex: USD/JPY bounces back above 98.00

Yen strength resumed during the European session, briefly dragging USD/JPY below the 98.00 mark, after the latest recovery attempt was capped by the 100-hour SMA at the 98.40/45 area.
Read more Previous

Forex: GBP/USD drops to 1.525/30

The sterling is extending its intraday correction to the area of 1.5230 on Wednesday, accelerated after the BoE inaction and the softer tone from the UK’s labour market...
Read more Next
Start livechat