Market expectations that a resolution to the budget impasse will soon be reached, and the United States will avert the looming fiscal cliff, has risk confidence supporting demand for the Canadian dollar over the Australian currency.
Signs of progress in budget negotiations between US Congressional leaders and President Obama led to moderate risk taking yesterday, which gave a boost to the euro. That being said, a lack of significant international news resulted in...
The USD/JPY pair rose during the session on Tuesday as the 84 handle continues to offer support. The testing of it for support has gone on for the last 40 hours, and the fact that we could...
The USD/CAD currency pair rose during the session on Tuesday, but remains consolidating between the 0.98 and 0.99 handles. We think this pair will be one of the most sensitive to the so-called “fiscal cliff”, and as...
The GBP/USD pair shot straight up during the Tuesday session as we broke above the 1.62 handle. This area signified a resistance level that finally has given way, and because of this, it does look like we...
The EUR/USD pair shot straight up during the Tuesday session, as the 1.3150 level has been confirmed as a floor. The candle is very bullish, and we did close towards the very highs for the day, always...
The AUD/USD pair fell during the session on Tuesday as the consolidation between 1.05 and 1.06 continues. The market does look healthy overall, and unlike its cousin the New Zealand dollar, the Australian dollar is an overextended.
Market Commentary The US Dollar continued to depreciate across the board; the Dollar Index (DX) continued to fall for continuous sixth session. The Dollar Index is currently trading flat at 79.37 after correcting from intermediate resistance of...
Technical analysis for 18.12
Economic news Today’s Forex market openings continue to be dominated by updates on the US fiscal cliff talks, Japan’s election results as well as the anticipated release of the UK November Consumer Price Index figure later in...
