We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • LIVE NOW: Join Senior Strategist @JWagnerFXTrader as he identifies current trading opportunities using several tools including Elliot Wave and support/resistance. Register here: https://www.dailyfx.com/webinars/963207267?CHID=9&QPID=917720
  • The latest US-China trade talk news seems to have had a negative impact on the Aussie as well, though $AUDUSD is still finding support at the 0.6800 handle so far https://t.co/iIq8dXWd8X
  • $USDCNH jumping as you'd expect https://t.co/Jxx1zAhTwk
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.07% US 500: -0.09% France 40: -0.49% Germany 30: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/D7ld6wtiXN
  • Spooz coming under pressure as well headed into the NY open $ES_F https://t.co/2qUl8lreQc
  • Gold surging while Treasury yields plunging in response to latest US-China trade talk headlines sending a sour tone $XAUUSD $TNX $GLD #US10YR https://t.co/ruEsKggEAs
  • Sterling continues to price in the good news with $GBPUSD nearing 1.3000 and looking to test highs last seen in early May. Get your market update from @nickcawley1 here: https://t.co/5LGANmVyT7 https://t.co/HAFfl0wld2
  • Gold and JPY continuing to head higher since pessimistic US-China trade reports https://t.co/05fyOCPByM
  • LIVE IN 30 MIN: Join Senior Strategist @JWagnerFXTrader as he identifies current trading opportunities using several tools including Elliot Wave and support/resistance. Register here: https://www.dailyfx.com/webinars/963207267?CHID=9&QPID=917720
  • RT @onlyyoontv: #China surprises by cutting short term funding rate for 1st time since 2015. It’s only 5 basis points (reverse repo rate fr…
Euro Cross Pick 05.30.2011

Euro Cross Pick 05.30.2011

2011-05-30 14:07:00
David Song, Currency Strategist
Share:

Keeping up with the long EUR/CAD trade taken from 1.3762, I added to my position as the 1Q GDP report for Canada missed market expectations. I bought the pair again at 1.3954 following the release and we may see the Canadian dollar face increased selling pressures over the next 24 hours of trading as the Bank of Canada is widely expected to keep the benchmark interest rate at 1.00% in May. In light of the recent comments from the BoC, it appears as though the central bank will carry its wait-and-see approach into the second-half of the year, and Governor Mark Carney is likely to retain his pledge to ‘carefully consider’ future rate hikes as the expansion in economic activity cools. In turn, the Canadian dollar remains at risk of facing additional headwinds over the near-term, and I will maintain a soft target at 1.4102, the 4/28 high, with the stop at 1.3641.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.