The US dollar continues to grind sideways against the Canadian dollar as we have seen over the last couple of days. I believe that the market breaking down in WTI Crude suggests that the market will eventually go higher.
The USDJPY pair bounced during the day on Friday as the employment numbers came out much stronger than anticipated.
The USDCAD pair went back and forth during the course of the day on Wednesday as we got employment numbers out of both the United States and Canada.
t only took a shift in rhetoric from RBA Gov Glen Stevens to upset the Aussie dollar bears whose best laid plans went sent completely awry.
The GBPUSD pair fell again during the session on Tuesday, and quite frankly is starting to press against some pretty significant support.
– Market optimism fades and suggests more USD strength – Widespread calls for a break lower in Eur/Usd – Key economic data and political risk ahead – Focus for now on monthly US employment data Although we have seen no clear breakouts in most of the major currencies, and although the Euro still remains locked in a very well defined 1.3000-1.3500 consolidation (that has defined trade for much of 2012),
Non-Farm Payrolls rise less than expected.
