There was some talk in support of the USD at the G8 meeting this weekend in Italy. This morning, some players are talking about a drive toward Risk Aversion to start the week. The USD has already gained some momentum this morning as reports of a rise in the sale of US Treasuries for the month of April, over the same numbers in March. Russia’s Finance Minister Alexei Kudrin said that Russia still has faith in the USD as the world's reserve currency. He also went on that is was too early to talk about replacing the USD as the reserve currency. This statement coming, after sometime last week, a colleague of his had suggested otherwise.
Risk Aversion may also see a buying spree on the JPY later in the day also.
Showing posts with label Canadian Dollar. Show all posts
Showing posts with label Canadian Dollar. Show all posts
Monday, June 15, 2009
Wednesday, June 10, 2009
RE: USDCAD
Just a reminder that CAD Trade Balance comes out at 13:30 London time. If you are in GBP trades, UK Trade Balance is out in 20 minutes.
USDCAD
It has made 3 attemps to break below 1.0990. Watch for a break and look for 1.10 to become resistance, and hold, before a move down. Also the tops of the last several candles are coming down, and it could even form a wedge before NY.
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