Forex: USD/CAD tests the 1.0200

FXstreet.com (San Francisco) - The US dollar is trading higher today against its Canadian counterpart and after rising around 45 pips from intra-day low at 1.0155 reached in the European session, the pair USD/CAD has broken above the 1.0180 level and tested the 1.0200 frontier.

Currently the pair is trading at 1.0190, 0.14% above opening price. The pair is slightly bullish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bullish while the MACD and Stochastic are neutral.

Above 1.0200, next resistances are at 1.0235 and 1.0260. On the downside, supports are at 1.0155, 1.0125 and 1.0100.

Apr 8, 2013

American equity markets open lower

The US stock market edged lower Monday, stubbornly refusing to bounce back after last weeks risk-off movement that left indices in the negative. Beginning with the indices and composites, the NASDAQ fell –0.02% as it settles in region of 3203.17, down -0.69 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1551.28, descending -2.09 points or -0.13% at the time of writing. Finally, the Dow Jones has edged lower at the opening, trading in the zone of 14523.82, presently -0.28% after a movement of -41.43 points.

Forex Flash: Could JPY revert to worlds key funding currency? – UBS

The BoJ's role in monetary easing cannot be understated. As it will be the main source of liquidity provision (OMT pending) when/if the Fed steps back, the JPY could even revert to the status of the world's key funding currency. According to Research Analyst Gareth Berry at UBS, “This could happen in two forms: firstly, Japanese investment flows would once again head overseas in size - shifts global markets are already heavily anticipating.”