Filed Under:
Forex pairs in this Article » USD/CAD (Barcelona) - Risk aversion is being felt around the financial markets, but the FX spae isn't reflecting that tone as much as equities. "That's left most of the majors in consolidation ranges, with the CAD in particular trading very flat", wrote analysts Shaun Osbourne and Greg Moore.

US Wholesale inventories and theFed's Beige Book are not expected to move the market and there is no Canada calendar for today: "For the wholesale inventories number we are slightly above consensus in expecting a 0.5% m/m rise (mkt 0.4%), while we expect the Beige Book to be a somewhat pessimistic reminder of very slow pace of the US recovery", they added.

Technically, the USDCAD formed a more solid base above 0.9745 and is capped just above 0.9800. TD Securities analysts watch for signals from the broader risk appetite to determine the ultimate breakout direction: "A topside break still looks to the 0.9850 area, while a break lower would target the 0.9700/10 zone", they wrote.
comments powered by Disqus