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Daily Forex Commentary
Thursday, 11 March 2010 - Market Commentary:: US Dollar vs Canadian Dollar: Once again the overnight session has proven to be relatively uneventful as most currencies are unchanged or not far from yesterday’s closing levels. Today the market will focus on Canadian & U.S. trade balance figures along with U.S. unemployment claims due to be released at 8:30 AM EST.
- We expect a trading range of 1.0235 and 1.0325.
:: Canadian Dollar vs Euro and Japanese Yen: The Euro has lifted slightly to 1.4025 as markets look to invest in the GBP and Euro. The Japanese Yen followed the lead of the USD remaining very quite at 88.25.
- We expect a range today in the EUR/CAD rate of 1.3950 and 1.4050.
:: Canadian Dollar vs British Pound, Australian Dollar and New Zealand Dollar: The British Pound climbed to 1.5450 this morning as Traders buy up the Pound. The GBP unit is still susceptible to any negative data or political change in the future. The Australian Dollar had an uneventful session remaining at yesterdays close of 0.9400. The New Zealand Dollar slipped 60 points to 0.7200 as Dovish comments from the RBNZ pushed the Kiwi lower.
:: Data Releases:
- AUD: No data expected today.
- CAD: International Merchandise Trade, New Housing Price Index.
- EUR: French Government Balance.
- GBP: No data expected today.
- JPY: Industrial Production.
- NZD: Retail Sales, REINZ Housing Price Index.
- USD: Fed’s Dudley Speaks to London Economists.
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