OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: USD/CAD in a deeply entrenched bull move – TD Securities

FXstreet.com (Barcelona) - TD Securities analysts consider yesterday’s BoC message as predictable, “sticking with the very weak tightening bias but acknowledging the softer economic trends evident recently and intimating that the eventual hike in rates remains very distant (by pushing the closing of the output gap out another year to mid-2015)”, and seeing overall upside bias on the USD/CAD: “We continue to target a push to 1.06 by the middle of the year. Note that Governor Carney is speaking this morning (very unlikely to reveal any more than yesterday’s press conference). G-20/IMF meetings get underway in Washington (draft communiqué reaffirms pledge to avoid competitive devaluations)”, wrote analysts Shaun Osborne and Greg Moore, allowing corrective pressure to extend a little lower in the near-term to the low 1.02 area, “but we continue to believe that the broader trend here is higher and that modest dips remain a buying opportunity”. “Trend indicators continue to suggest a deeply entrenched bull move”, the concluded.

Forex Flash: Japanese selling of foreign bonds continued - Nomura

Nomura strategist Yujiro Goto notes that Japanese investors continued selling foreign bonds last week, for the fifth week in a row.
Read more Previous

Forex: GBP/USD stalls ahead of 1.5300

The British pound extended gains versus the greenback at the beginning of the New York session and climbed over 80 pips within the last hours, underpinned by better risk sentiment.
Read more Next
Start livechat