Forex: USD/CAD rejeted by the 1.0165

FXstreet.com (San Francisco) - After rising around 20 pips from 1.0145, the USD/CAD tested the 1.0165 level just at the moment of the FOMC minutes early release but the pair was unable to trade higher and it was rejected down to test the 1.0150 area.

Currently the USD/CAD is trading at 1.0155, 0.10% below opening price. The pair is slightly bullish according to the FXstreet.com trend index with indicators such as CCI and Momentum pointing higher while the MACD and Stochastic going neutral.

Above the 1.0165, next resistances are at 1.0175 and 1.0200. On the downside, supports are at 1.0140, 1.0130 and 1.0125.

Apr 10, 2013

Forex Flash: Cat and Mouse a la Japonaise - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that today will see the release of Japanese securities flows data, including the size of flows and the type of assets bought, but not their allocation per currency or the amount of FX hedging.

Commodities Brief – Gold falls on FOMC leak, crude oil tests 94.00

Gold prices fell to daily lows Wednesday during the beginning of US trading, as the FOMC minutes were apparently leaked to lobbyists – in essence forcing the Feds hand in a move earlier than many expected. The minutes reiterated what many had perhaps already known, a general tapering off of QE by year-end. Perhaps not surprisingly, the yellow metal traded down on the news, falling to the USD $1577.76 per oz. at the time of writing.