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USD/CAD2016-05-23 17:55 UTC

USD-CAD was lifted to levels last seen on April 7, topping at 1.3173, as oil prices slipped, and as growing Fed rate hike speculation supports the greenback more generally. Today's price action was a bit choppy, with a good chunk of liquidity missing due to Canada's Victoria Day holiday. Resistance comes in at the early April highs between 1.3180 and 1.3200, with the April 5 top of 1.3219 the next major target. Read More 

XE Market Analysis

  • North American Edition2016-05-23 11:34 UTC

    EUR-USD has continued to ply a narrow range just north of 1.1200, steadying after posting fairly steep losses last week (which completed a run of three consecutive weekly losses). Lower Bund yields following sub-forecast PMI data out of the Eurozone cast little impact. The Greek parliament, meanwhile, passed the latest EUR 5.4 bln austerity-measures package, which will qualify it for a EUR 11 bln injection of bailout cash. This should make it a formality ... Read More 

  • European Edition2016-05-23 07:50 UTC

    The yen has traded moderately firmer today, showing about a 0.25% gain versus both the dollar and euro as London interbank people take to their desks. Lower stock markets across the Asia region, as investors continue to face prospects for a Fed rate hike as soon as the June 15th-16th FOMC, have underpinned the yen via the usual inverse correlative pattern. USD-JPY fell to a three-session low at 109.63, down from Friday's closing level at 110.11. EUR-JPY ... Read More 

  • Asian Edition2016-05-23 17:55 UTC

    FX trade was relatively uneventful in N.Y. trade on Monday, with EUR-USD ranging between 1.1188 and 1.1224, holding above seven week lows of 1.1180. USD-JPY was the dollar's weak link, as it fell to 109.12 from over 109.55 on the back of sagging risk taking levels and uncertainty over futures BoJ policy moves. USD-CAD moved higher on softer oil prices, while Canada was out on holiday, which limited liquidity. Cable nipped under 1.4450, though recovered ... Read More 

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