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USD/CAD2014-08-01 06:53 UTC

USD-CAD made a seven-week high of 1.0929 yesterday, which was the firth up day out of the last six trading days, though upside momentum has come off somewhat. This week saw the breach of the 200-day moving average, which presently situated at 1.0842. The late June to early July dip below 1.0700 proved a step too far as the BoC outlook remains dovish. Support is now marked at 10840, 1.0800 and 1.7890 (50-day moving average). Strong ... Read More 

XE Market Analysis

  • North American Edition2014-07-31 10:40 UTC

    The dollar extended post-GDP gains against sterling and the Aussie dollar, though remained below yesterday's peaks versus the euro and yen. News that Argentina is heading for a default didn't have much impact on the main currencies, while a dip in Eurozone inflation figures didn't surprise after the soft German and Spanish data of yesterday. EUR-USD dipped to intraday lows under 1.3390 following the dip to 0.4% y/y in the July flash estimate of Eurozone ... Read More 

  • European Edition2014-08-01 06:53 UTC

    Both trade and direction were limited in the pre-European Asian session by the proximity of the U.S. payrolls release later today. EUR-USD stuck near to the 1.3385-90 area, leaving yesterday's 1.3371 low and Wednesday's eight-month nadir at 1.3367 untroubled while at the same time lacking the muster to test 1.3400, which capped yesterday. The high-stakes Argentina default, yesterday's Banco Espirito Santo plunge in Portugal, and the Russian standoff, ... Read More 

  • Asian Edition2014-07-31 18:28 UTC

    The dollar started the Thursday session on a firmer footing, though as Wall Street was crushed on Fed tightening concerns, it later gave back some of its gains. Firmer ECI data along with a sub-par Chicago PMI outcome dented risk taking sentiment, while weekly jobless claims rose, but were in line with expectations. EUR-USD initially dipped to 1.3372 before testing, and failing to break through 1.3400. USD-JPY meanwhile, rallied to print 103.00, before ... Read More 

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