Forex Analysis

CAD Mid-day Analysis

The path of least resistance is down and a return to the March lows can’t be ruled out

News that inflation in the UK fell to a 5 year low and a push back in UK rate hike timing by a noted analyst has put

In the euro area there will be attention on industrial production for August after asharp drop

German bond yields edged higher yesterday, but the moves were limited and trading volumes were depressed in general due to the US holiday.

The pair ended the NY trading hours at $0.8771 after having traded a $0.8652 to $0.8787 range on the day.

The pair took out the $1.2716 resistance level and stops above in the last hour of NY trading as

The pair closed Monday’s holiday thinned session at $1.6084 after rate had bounced off a session low of $1.6051 to $1.6110 late in the day,

The pair opened weaker this morning at Y106.83 after a thin overnight session due to a holiday in the US.

The trade thinks the ECB is poised to increase QE action ahead and it is also possible that lower oil prices and

The Swiss is catching a lift from short covering and from the quasi recovery action in the Euro.

A quasi gap up move in the Yen overnight seems to be the result of slightly better than expected Chinese export figures and

The Dollar has shown some slight retrenchment overnight in the wake of slightly better than expected Chinese import/export data.