The Australian dollar, New Zealand dollar, and Canadian dollar were the weakest of the majors as a lack of demand for carry trades sent the currencies down especially hard versus the US dollar and Japanese yen. The Canadian dollar was the only one to really see any economic releases, as Statistics Canada said that international securities transactions rose to a 3-month high of C$9 billion in April, indicating that foreign investors are still buying Canadian assets, especially bonds. Nevertheless, CADJPY broke below a rising trendline that has served as support since the beginning of the year and USDCAD cleared former support at the psychologically important 1.1500 mark.
Related Articles: Canadian Dollar Weekly Trading Forecast, Australian Dollar Weekly Trading Forecast, NZ Dollar Weekly Trading Forecast
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