Forex: USD/CAD surrenders gains

After reaching a 2-week high of 1.0086, the US dollar gave up earlier gains against the loonie, as it weakened broadly on better risk sentiment.

USD/CAD was rejected once again from the 1.0080/85 area on Tuesday, and slid back toward 1.0045 ahead of the New York open. At time of writing, USD/CAD is trading around 1.0050/55 where it is virtually unchanged on the day.

In terms of technical levels, the Mataf.net analyst team locates next supports at 1.0040 and 1.0005, while they see resistances at 1.0085, 1.0100 and 1.0110.

Feb 12, 2013

Forex Flash: Expect a Japanese export recovery – Nomura

Nomura strategists have taken a look at upcoming events and trends in Japan and suspect that Japan looks set to experience an export recovery in 2013.

Forex Flash: Bunds eye 200-day MA – RBS

The Bund market sustained itself in a range after seeing a gradual recovery and closing the 142.50 bearish gap from 25 January. According to Technical Markets Strategist Dmytro Bondar at RBS, “The move signaled further recovery to 143.20/30 (200-day MA) onto 143.70. Further upside will be likely this week after a minor correction from 200-day MA takes place.”