FXStreet (San Francisco) - The Euro recovered some ground on Wednesday after three days of declines with the EUR/USD bottoming at lows since September at 1.3150. The USD/CAD completed a nearly 2 cents decline from 1.1000.

The EUR/USD posted gains on Wednesday after three days as the unique currency was fueled amid ECB sources downplaying chances of a ECB move in the next week. "Nevertheless and despite positive, the daily candle shows a lower low and a lower high, which keeps the bearish trend alive," Valeria Bednarik from FXStreet commented.

Currently, EUR/USD is trading at 1.3193, up 0.20% on the day, having posted a daily high at 1.3211 and low at 1.3153. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

The USD/CAD extended its 1.1000 rejection for second day and after losing almost 2 cents, the pair fell to nearly 1-month low at 1.0825. "Lots of M&A chatter regarding the BK/Tim Horton's deal, but that seems an unlikely catalyst given that M&A deals are usually handled with a bit more delicacy than just bashing the bids," points out Jamie Coleman from FXBeat. "They are usually hedged over time, often with options in case the deal does not close."

Main headlines in the American session

ECB action unlikely next week without inflation slump – RTRS ECB sources

Consolidation day in US stocks; Low volumen

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center