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USD/CAD2014-07-31 18:28 UTC

USD-CAD rallied to a six-week high of 1.0929 from near 1.0915 after the mix of data, where Canadian GDP matched consensus forecasts, and U.S. ECI firmed up. Resistance comes in at 1.0940-60 now, the June peak. Given the soft risk landscape, and widening of U.S./Canada yield spreads in favor of the USD, 1.0960 could well be obtainable in the coming session, though ahead of the key U.S. jobs report on Friday, profit taking took the pairing ... 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 Edition2014-07-31 06:39 UTC

    The dust settled after yesterday's USD surge on the solid U.S. GDP print. EUR-USD flat-lined in the high 1.33s after making a 1.3367 eight-month low yesterday. The drop came concomitantly with a dip in the 10-year Bund over T-note yield differential, which sank to near major-trend lows around -138 bp. The FOMC announcement subsequently helped cool market action, with the Fed indicating that it remains in no rush to begin rate lift-off. News that ... 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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