Forex: USD/CAD subdued at 0.9900
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USD/CAD
FXstreet.com (Barcelona) - Monday started off with a stronger Canadian Dollar, following the rise in Commodity prices, pushing the USDCAD to support at 0.9900 psychological level. Some market volatility was seen ahead and after Fed's Evans dovish speech, but the pair remains subdued at 0.9900 ground.
The Chicago Federal Reserve Bank President Evans gave a very dovish speech in Hong Kong, stating the US central bank should immediately launch a new round of stimulus, through bond buying, until the jobless rate declines steadily.
UBS analysts' bias is bearish currently: "A move below 0.9886 would resume weakness opening the door to 0.9843 ahead of 0.9800", wrote analyst Geoffrey Yu, pointing to resistance is at 0.9964.
The Chicago Federal Reserve Bank President Evans gave a very dovish speech in Hong Kong, stating the US central bank should immediately launch a new round of stimulus, through bond buying, until the jobless rate declines steadily.
UBS analysts' bias is bearish currently: "A move below 0.9886 would resume weakness opening the door to 0.9843 ahead of 0.9800", wrote analyst Geoffrey Yu, pointing to resistance is at 0.9964.
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