{"id":20621,"date":"2011-04-12T07:45:42","date_gmt":"2011-04-12T11:45:42","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20621"},"modified":"2011-04-12T07:45:42","modified_gmt":"2011-04-12T11:45:42","slug":"usd-unlikely-to-extend-gains-with-trade-balance-figure","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/12\/usd-unlikely-to-extend-gains-with-trade-balance-figure\/","title":{"rendered":"USD Unlikely to Extend Gains with Trade Balance Figure"},"content":{"rendered":"

By Dan Eduard<\/strong><\/p>\n

Yesterday saw a mixed trading session for both the USD and CAD. While both recorded gains against the British pound throughout the day, the yen was able to develop serious bullish momentum in overnight trading, and took in well over 100 pips profit on each of the North American currencies. Today, traders will be paying close attention to both Canadian and US trade balance figures, as they are likely to determine the short term trends for both the loonie and greenback.<\/p>\n

Here is a roundup of the day\u2019s main news events:<\/p>\n

12:30 GMT- Canadian Trade Balance<\/p>\n

Analysts are forecasting the Canadian Trade Balance figure to come in at around 0.6B. If true, it would represent a stark increase over last month\u2019s figure of 0.1B. The CAD could see a jump in afternoon and evening trading today as a result of this indicator, in particular against its main currency rivals the euro and US dollar.<\/p>\n

12:30 GMT- US Trade Balance<\/p>\n

The US Trade Balance figure is forecasted to come in slightly better than last month\u2019s result. Analysts are calling for a number around -44.1B, as opposed to March\u2019s figure of -46.3B.<\/p>\n

While the prediction does represent an improvement, it is unlikely to help the dollar as it still shows the US importing significantly more than it exports. Unless the figure comes in well above expectations, the dollar is likely to see a drop following the release of this report.<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><\/span>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday saw a mixed trading session for both the USD and CAD. While both recorded gains against the British pound throughout the day, the yen was able to develop serious bullish momentum in overnight trading…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20621","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20621"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20621\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}