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Strong economy helps the Canadian dollar

Posted 03-01-2010 at 08:23 AM by Yohay
USD/CAD is now falling and approaching an important resistance line. This happens as the US dollar is strong, with traders focusing on the collapse of the Pound. The loonie has reasons to rise – a strong economy that is accelerating. The pair is now facing a test:

The dollar is storming through the markets. This is strongly felt in GBP/USD. The Pound totally collapsed, broke through the key level of 1.50 and triggered more stop order. It stopped only at 1.4780, the last line that I mentioned in the GBP/USD forecast.
Also the Euro, the Aussie and others are surrendering to the dollar. But let’s focus on one strong currency: the Canadian dollar.

Read the rest of the article about the Canadian GDP.
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Daily outlook - March 1st

Posted 03-01-2010 at 03:03 AM by Yohay
The first day of March brings a busy calendar which isn’t typical for Mondays. Canadian GDP, European Unemployment Rate and American ISM Manufacturing PMI will stand out today.

As time goes by this week, trading will be more and more influenced by the tension towards the Non-Farm Payrolls. I suggest being careful with this event. OK, let’s start the review:

Australia’s Glenn Stevens might provide final hints to the upcoming rate decision in an early speech. Also in Australia, the AIG Manufacturing Index, Commodity Prices and Current Account will be released, with the latter expected to show a bigger deficit.
Aussie traders have a busy week. For more, read the AUD/USD forecast.

In Europe, German...
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Weekly outlook for GBP/USD

Posted 03-01-2010 at 12:34 AM by Yohay
The Pound lost another technical level and looks down. The upcoming week is very busy, with eight important events, with the rate decision being the climax. Here’s the weekly outlook for the British events, and an updated technical analysis for GBP/USD.

GBP/USD chart with support and resistance lines marked. Click to enlarge:


BOE governor Mervyn King is very dominant in the Pound’s trading. He wants and gets a weak Pound. He’ll have another opportunity this week, but also the numbers will speak. Let’s start:
  1. Halifax HPI: Publication time unknown at the moment. This is one of the more accurate reports out
...
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Weekly outlook for EUR/USD

Posted 03-01-2010 at 12:28 AM by Yohay
EUR/USD finally had a positive week and gained some ground. It’s now facing a very busy week, with the rate decision being the climax. Here’s the outlook for the European events, and an updated technical analysis for EUR/USD.

EUR/USD chart with support and resistance lines marked. Click to enlarge:


Even though this week is crowded with economic indicators, the news about possible resolutions to the Greek crisis and their failures will continue to move the Euro. OK, Let’s start the review:
  1. German Import Prices: Published on Monday at 7:00 GMT. As German prices are “back to normal”, not moving, import prices
...
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