18 Feb 2015
USD/CAD better bid ahead of FOMC
FXStreet (Guatemala) - USD/CAD is currently trading at 1.2448 with a high of 1.2467 and a low of 1.2379.
USD/CAD is moving along on the bid since the european opening and on through the US day so far with a minor set back form the highs where supply came in to test the 1.2420 support that subsequently held.
We await the FOMC minutes This afternoon, we will be looking for wording around the release of the January statement were where the insertion of the word “international” brought about a fair bit of reaction and therefor attention will most likely be here today.
Analysts at TD Securities said, "Better intraday resistance is 1.2475/85...We do not have a high conviction view of the USD/CAD outlook here one way or the other in the very short-term but we do think the recent consolidation in spot is likely to extend a little more in the next few weeks before the USD bull trend resumes. 1.2350/1.25 might cover the range for now."
USD/CAD is moving along on the bid since the european opening and on through the US day so far with a minor set back form the highs where supply came in to test the 1.2420 support that subsequently held.
We await the FOMC minutes This afternoon, we will be looking for wording around the release of the January statement were where the insertion of the word “international” brought about a fair bit of reaction and therefor attention will most likely be here today.
Analysts at TD Securities said, "Better intraday resistance is 1.2475/85...We do not have a high conviction view of the USD/CAD outlook here one way or the other in the very short-term but we do think the recent consolidation in spot is likely to extend a little more in the next few weeks before the USD bull trend resumes. 1.2350/1.25 might cover the range for now."