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Forex Flash: AUD/CAD broader trend still seems to be lower – TD Securities

FXstreet.com (Barcelona) - The AUD/CAD finished the session sharply lower, down 33 pips at 1.0160. This was the lowest daily close since for the pair since October 2012. It was a volatile session with the pair trading as high as 1.0275 earlier in the day after the AUD jobs data, but leaking lower much of the US session.

According to Shaun Osborne, Chief FX Strategist at TD Securities, “AUD/CAD’s overnight push higher has stalled—badly—on the short-term charts and the cross has slipped back to nearer opening levels. The broader trend here still seems to be lower and there is good support coming from the bearish alignmentof the trend momentum oscillators across the short, medium and longer-term timeframes.”

He went on to add, “This suggests limited corrective potential higher from here and ongoing pressure on the downside. Near-term, we look for the sell-off to regain momentum below 1.0205/15 for a push to 1.0100/10 (and potentially 0.9950/1.00).”

Forex: Will a busy economic release schedule next week be the catalyst for EUR/USD?

The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed to help provide additional USD strenght against other pairs, and also helped limit advances in commodities which were primarily lower for the day. Economic releases out of the Eurozone in the coming session include German Trade Balance, Italian Industrial Production, and EU Consumer Price Index.
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Session Recap: Yen extends loses; Nikkei prints fresh 5-year high

Another Asia-Pacific session of consolidation in recent USD gains to end the week, with further Yen weakness to fresh 4-year highs at 101.20 USD/JPY, breaching the 101.00 options related barrier. Yen printed fresh multi-year lows on the back of Nikkei climbing to fresh 5-year highs above the 14600 points figure, following Tokyo open and better than previous foreign bond purchases from Japan.
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