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US Dollar Strength Tentative, Selective at Best

US Dollar Strength Tentative, Selective at Best

2015-03-03 12:10:00
Christopher Vecchio, CFA, Senior Strategist
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Talking Points:

- EUR strength post-CPI lost; GBPUSD nears key EMA support.

- USDCAD triangle breakout contingent on Canadian GDP today.

- See the DailyFX Economic Calendar for Tuesday, March 3, 2015.

Event risk is heavy the next few days, although today may be a lull in the storm. Data flow out of Europe was light this morning, and the only significant event on the calendar for the North American trading session is the December and Q4'14 Canadian GDP report. If they're not operating in the CAD-crosses, traders most likely have an eye turned to Thursday and Friday for cues for direction in the Euro, Sterling, and US Dollar.

See the above video for technical considerations in EURUSD, GBPUSD, AUDUSD, and USDCAD.

Read more: Too Early to Call a Bottom in EUR-crosses Despite CPI Data

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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

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