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16 Aug 2013
USD/CAD is steady
FXstreet.com (Barcelona) - USD/CAD is keeping its positon an has been less of a mover on the charts.
USD/CAD Foreign portfolio investment in Canadian securities came in for (Jun) at -$15.41B vs a consensus of $7.77B and previous $6.74B while Canadian portfolio investment in foreign securities (Jun) at $3.69B against a previous $-1.73B and Manufacturing Shipments (MoM) (Jun) came in -0.5% in line with estimates. Later in the US morning, the U. Michigan confidence survey could also provoke a decent currency market reaction.
USD/CAD calmer on the charts
Research teams at TD Securities notes that, on the charts, "USD/CAD did not avoid the whippy price action that has pervaded the market over the past 24 hours, but its moves were much tamer than many of the other major currencies. The short and medium term charts are still reflective of a consolidation phase for the pair, and the longer-term charts (weekly) suggest the bull trend is still intact. With that in mind, we still favour an ultimate break to the upside of the current neutral range which is defined by 1.0250/1.0445".
USD/CAD Foreign portfolio investment in Canadian securities came in for (Jun) at -$15.41B vs a consensus of $7.77B and previous $6.74B while Canadian portfolio investment in foreign securities (Jun) at $3.69B against a previous $-1.73B and Manufacturing Shipments (MoM) (Jun) came in -0.5% in line with estimates. Later in the US morning, the U. Michigan confidence survey could also provoke a decent currency market reaction.
USD/CAD calmer on the charts
Research teams at TD Securities notes that, on the charts, "USD/CAD did not avoid the whippy price action that has pervaded the market over the past 24 hours, but its moves were much tamer than many of the other major currencies. The short and medium term charts are still reflective of a consolidation phase for the pair, and the longer-term charts (weekly) suggest the bull trend is still intact. With that in mind, we still favour an ultimate break to the upside of the current neutral range which is defined by 1.0250/1.0445".