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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
fell to hit 1.0150
extended to 1.01
Rebounded back above 1.0280 retracment --61.8% retracememt. so theres ground half way towards 1.0330 but unlikely to break avove 1.04.
Ashraf
JOB REPORTS FROM CANADA & US due in today. Canada (11:00 GMT) July employment exp +10K from 93K, unemp rate exp unchanged at 7.9%. Considering that the 93K rise was the second highest on record, A rise of 10-20K would be positive for CAD especially if the unemployment rate remains at 7.9%. USDCAD eyes a recovery above 1.02, but any rebound subsequent rebound is seen capped at 1.0250 until the release of the US jobs report, which could alter the risk picture. The 1.01 support remains valid for now, unless both US and CAD reports surprise on the upside.
Ashraf
Is Eur/Gbp still on track to go down - are there any concerns, that you may have with this pair in changing its direction
Thanks
Ashraf
*always meaning certainty in a statistical sense
Ashraf