Forex Flash: USD/CAD with potential 1h top at 1.0035/40 – TD Securities
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USD/CAD
FXstreet.com (Barcelona) - Thin trading is expected with US banks/government offices closed for Remembrance/Veterans' Day. Equity markets appear to be open and may provide the only impetus for trading in our session, with no US or Canadian data on tap
A FT report said that the US is poised to become the world's largest energy producer by 2017. "An International Energy Agency report notes that the "shale revolution is redrawing the energy map", with the US likely to become a net energy exporter. This contrasts with the broader trend in other, more traditional energy-exporting countries where supply is peaking", wrote analysts Shaun Osborne and Greg Moore, pointing to longer-term implications for the US' trade balance and its relations with key energy suppliers currently.
"The market's peak and reversal from a marginal new high Friday puts a potential short-term top on the hourly chart at 1.0035/40 now", they added, pointing to key support at0.9884.
A FT report said that the US is poised to become the world's largest energy producer by 2017. "An International Energy Agency report notes that the "shale revolution is redrawing the energy map", with the US likely to become a net energy exporter. This contrasts with the broader trend in other, more traditional energy-exporting countries where supply is peaking", wrote analysts Shaun Osborne and Greg Moore, pointing to longer-term implications for the US' trade balance and its relations with key energy suppliers currently.
"The market's peak and reversal from a marginal new high Friday puts a potential short-term top on the hourly chart at 1.0035/40 now", they added, pointing to key support at0.9884.
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