6 Sep 2013
Flash: USD/CAD eyes critical data releases – BMO Capital Markets
FXstreet.com (Lisbon) - The USD/CAD still holding within the recent short-term ranges, with good support seen near 1.0440/50, and sellers lined up towards 1.0525, suggests Greg Anderson at BMO Capital Markets.
Key quotes
“We see some System stops higher back through the 1.0545 area, and to the downside general Corporate demand for USD.”
“With both Canadian and US Employment Reports to look forward to today one would have to assume that USD/CAD is ready to break out either side. We have seen some stop loss selling this morning in USD/CAD through 1.0470, so the risk would suggest a better number and USD/CAD to trade lower, as the market generally still looks long USD/CAD.”
“After the recent spate of weak numbers, the market probably expecting another poor Canadian print today. Very quiet morning in other pairs as focus is clearly aimed at the US Employment Report.”
Key quotes
“We see some System stops higher back through the 1.0545 area, and to the downside general Corporate demand for USD.”
“With both Canadian and US Employment Reports to look forward to today one would have to assume that USD/CAD is ready to break out either side. We have seen some stop loss selling this morning in USD/CAD through 1.0470, so the risk would suggest a better number and USD/CAD to trade lower, as the market generally still looks long USD/CAD.”
“After the recent spate of weak numbers, the market probably expecting another poor Canadian print today. Very quiet morning in other pairs as focus is clearly aimed at the US Employment Report.”