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20 May 2015

USD/CAD off highs, back to 1.12240

FXStreet (Edinburgh) - The greenback continues to advance vs. its Canadian neighbour on Wednesday, with USD/CAD now easing to the 1.2240/35 band.

USD/CAD focus on FOMC

The pair is looking to consolidate yesterday’s break above the psychological 1.2200 handle ahead of the key FOMC minutes due in the European evening. Spot felt supported following Tuesday’s neutral tone from the speech by Governor S.Poloz, who continues to expect the domestic economy to gather pace in the second half of the year, albeit the effects of lower energy prices could take longer to emerge.

In the meantime, the pair is advancing for the fifth consecutive session today prompting markets to believe that a significant low has taken place at 1.1900.

USD/CAD levels to watch

As of writing the pair is up 0.01% at 1.2235 and a breakout of 1.2269 (high Apr.23) would target 1.2287 (high Apr.22) en route to 1.2305 (high Apr.21). On the flip side, the immediate support aligns at 1.2216 (low May 20) ahead of 1.2130 (low May 19) and followed by 1.2000 (psychological level).
May 20, 2015

GBP/USD flattish above 1.55

The British pound erased gains and trades flat against the American dollar in the mid-European session, with GBP/USD holding above 1.55 barrier, as traders continue to digest BPE minutes while preferring to remain on the side-lines ahead FOMC minutes due to be published later in the US session.
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May 20, 2015

EUR/USD upside limited? – Danske Bank

Jens Pedersen, Senior Analyst at Danske Bank, argued that a top could possible be in place in the pair after the recent rejection from levels near 1.1500...
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