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- Nov, 20 USD Graphic Rewind
- Nov, 20 Opening Comment
- Nov, 20 Overnight Interest Rate Update 11.19.09
- Nov, 19 Japanese Yen Benefits on Risk Aversion, New Zealand Dollar Falters
- Nov, 19 U.K. Public Budget Posts Highest Short-Fall Since 1993
- Nov, 19 Overnight Interest Rate Update 11.19.09
- Nov, 18 Swiss Franc Strengthens on U.S. Dollar Weakness, British Pound Falters
- Nov, 18 Canadian Consumer Prices Expand for the First Time in 5 Months
- Nov, 18 Opening Comment
- Nov, 18 Overnight Interst Rate Update 11.18.09
- Nov, 17 British Pound Remains Bid, Canadian Dollar Underperforms
- Nov, 17 U.K. Inflation Tops Forecast
- Nov, 17 Overnight Interest Rate Update 11.17.09
- Nov, 17 USD Graphic Rewind
- Nov, 16 Canadian Dollar Outperforms, Japanese Yen Lags Behind
- Nov, 16 Euro-Zone Consumer Prices Weaken For Fifth Month in October
- Nov, 16 Overnight Interest Rate Update 11.16.09
- Nov, 13 US Confidence Falls for Second Month
- Nov, 13 Overnight Interest Rate Update 11.13.09
- Nov, 13 German GDP Posts 2nd Quarterly Advance; Rises to 0.7%
The Canadian dollar rallied nearly 100pips against the greenback to be the best performing currency on Monday, with the USD/CAD trending lower throughout the North American trade following the rebound in oil prices paired with the rise in risk appetite, while the Japanese yen remains the worse performing currency, with the exchange rate pushing 50+pips higher from the open after slipping to a low of 89.20 during the Asia trade.
The Canadian dollar rallied nearly 100pips against the greenback to be the best performing currency on Monday, and the USD/CAD may continue to trend lower throughout the North American trade following the rebound in oil prices paired with the rise in risk appetite. However, the dollar-loonie as moved more than 100% of its daily ATR after slipping to a low of 1.0715 on the day, and the lack of momentum to cross back below the 50-Day SMA at 1.0700 may hold the pair within range ahead of the FOMC interest rate decision on Wednesday at 19:15 GMT. Nevertheless, as risk trends continue to drive price action in the currency market, the weakness in the U.S. dollar may continue to drive the exchange rate low, but as the 30-minute RSI approaches oversold territory, we may see the USD/CAD continue to hold above the 50-Day and hold a narrow range going into the Asia session.
The Japanese yen remains the worse performing currency against the U.S. dollar, with the exchange rate pushing 50+pips higher from the open after slipping to a low of 89.20 during the Asia trade, and the USD/JPY may continue to trend higher in November and retrace the sell-off from August as market sentiment improves. The dollar-yen has move 143% of its average true range and has crossed back above the 20-Day SMA (90.39) to reach a high of 90.69, but as the 30-minute RSI approaches overbought territory, gains are likely to be capped and we may see the pair hold a broad range over the week as investors speculate the Fed to maintain the expansion in monetary policy throughout the second-half of the year. Nevertheless, as market sentiment improves, we may see the dollar-yen push higher over the week to test the 50-Day SMA at 91.11, and a break above would expose the October high at 92.31.
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