Forex Analysis

CAD Mid-day Analysis

The Canadian is showing some impressive action on the charts and is carving out those gains in the face of potential US Dollar adversity.

The Pound has been largely left out of the significant overnight volatility being seen in the Euro,

Wage growth slows in Hungary, feeling finally deflation.

USDJPY extended its move lower to 117.50 on the back of Aso’s comments.

It is a very thin calendar and most focus will be on speeches by Draghi andWeidmann.

Two pieces of bad news came from the Euro area yesterday: Flash PMIs and consumer confidence unexpectedly fell in November.

The pair saw a sharp bounce off European lows of $1.5632 on Thursday after the release of strong UK Retail Sales data,

The pair opened at $0.8629 this morning after a $0.8591 to $0.8641 range during the US hours last night.

The pair started at $1.2545 this morning in the Asia-Pacific after a $1.2509 to $1.2570 range during the US hours last night.

A day of sharp reversals for the Japanese yen this morning after it opened at Y118.01 vs the dollar.

Scheduled data flow from the Euro zone sets the Euro into a downward tilt on the charts early today,

Down trend channel resistance in the December Swiss is seen up at 1.0486 today and