Today the dollar / Canada has demonstrated outstanding performance - first pair soared to a sessional maximum on the level of 1.0950, followed in early U.S. session more quickly sank to a low of 1.0790. Nevertheless, in a broader perspective view of currency strategists, TD Securities remains the same - they are still considering the growth of the U.S. dollar as a good opportunity to sell a pair. Today's jump in the dollar / Canadian area of 1.09 above yesterday's slightly exceeded analysts' expectations of the bank. Nevertheless, the bank noted that the chances of the U.S. dollar growth continues to remain weak. Bank analysts believe that in the next few days, volatility in the pair will remain, but, in general, adhere to the bearish forecast. The bank still prefer to sell dollar / Canada on the growth, thus, believe in the bank, the couple may well be a while to grow on the upper end of the range of 1.10/1.11. At the moment pair dollar / franc traded at 1.0832.
Friday, October 2, 2009
Societe Generale expects growth in the euro / dollar after the correction
Analysts said Societe Generale, correctional reduction pair euro / dollar, which began last week with the level of 1.4845 to wane near the growing line of support in the 1.4255/1.4260 area. The bank believes that if the couple still make a certain breakthrough level of the Fibonacci Retracement 1.4510, the fall will be stopped on the above, then the euro / dollar return to 1.4845/65 resistance in the area. Levels of resistance in the bank put 1.4680, 1.4845/1.4865 and 1.5015, support are at 1.4510, 1.4250/1.4260 and 1.4175. Euro / dollar is now trading at 1.4575.
The data on employment in the U.S. was disappointed
The disappointing data on employment in the U.S. in September led to a lower level of acceptable risk in the currency markets - as a result of currency-haven dollar and the yen began to rise and demand for higher-yielding currencies fell sharply. Euro / dollar fell below $ 1.4500, as the foot outweighed marked in this area demand. Below foot spotted near the level of $ 1.4470. According to traders, to continue the downward movement of the pair need to break the level of $ 1.4450. Couple pound / dollar also came under pressure, falling below $ 1.5860 to the sessional minimum around $ 1.5800 - at this level, an insignificant demand more bids are near the lows of the week at $ 1.5770. Dollar / yen against the backdrop of yield data down from Y89.45 below Y89.00. Ofer is located near the level of Y89.25. Euro / yen after the data has fallen from a mark Y130.00 below 200-day moving average - is the first time since May this year, the couple can close below this level.
Barclays Capital maintains bullish forecast of the euro / dollar
Euro / dollar all closer to the level of a breakthrough in the field of 1.4450/00, while currency analysts at Barclays Capital is increasingly leaning toward the bullish forecast for the pair. Taking into account the fact that the momentum is approaching oversold, the bank expects early next couple weeks will form a foundation for future growth to the recent highs of 1.48. As a strategy at Barclays Capital recommend buying euro / dollar to decline in the 1.4450/00 area with a stop below 1.4340. At the moment, the euro / dollar is trading near the high of $ 1.4540, having fallen from the highs reached earlier above $ 1.4560 - the eve of the publication of data on the labor market in the U.S. the pair are unlikely to be significant. Offer are in the region $ $ 1.4565/70 and 1.4600/10, bids are marked near the level of $ 1.4500 with stops below.
Commerzbank expects further decline of the euro / dollar
Ever since its peak at 1.4845 (September 23), the euro / dollar moves in a downward trend and today during the Asian session, reached a low of 1.4500. Despite the rollback pairs observed in the moment, currency strategist at Commerzbank consider it quite likely continued decline of the euro / dollar to 1.4400 area. As noted in the bank, the couple is now trying to break through the 1.4551/38 area - her breakthrough increase downward pressure and cause a deeper correction in the short term couples. The bank believes that the intraday rise in the euro / dollar obstacles encountered in the field of 1.4640/75. The initial aim of ways to reduce the pair, analysts said the bank will be the level of 1.4440 - in the event of breakthrough movement may continue until the 1.4381/16 area, where the 55-day moving average. Currently, the euro / dollar is trading at around 1.4544.
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