{"id":8428,"date":"2010-04-09T08:53:18","date_gmt":"2010-04-09T12:53:18","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8428"},"modified":"2010-04-09T08:53:18","modified_gmt":"2010-04-09T12:53:18","slug":"usdcad-in-focus-for-todays-forex-trading","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/09\/usdcad-in-focus-for-todays-forex-trading\/","title":{"rendered":"USD\/CAD in Focus for Today\u2019s Forex Trading"},"content":{"rendered":"

By Greg Holden<\/strong> – Going into this week\u2019s closing there are 2 pieces of vital information traders can focus on. The first are the news releases outlined below. The second is the recent upswing by the EUR, which some analysts consider hollow.<\/p>\n

The Canadian news releases detailed below are much more important in today\u2019s trading than they otherwise would be simply because the other major world economies will be relatively silent. The economic calendar is moderately empty today and this makes Canadian employment data the largest market-mover we\u2019ll see.<\/p>\n

The EUR\u2019s recent upswing, which has helped it to exit out of its downtrend with the USD, is considered hollow due to the fact that currencies such as the GBP have already pared the EUR\u2019s gains. It stands to show that this support may not sustain itself despite the surge in optimism following Jean-Claude Trichet\u2019s statements yesterday.<\/p>\n

Today\u2019s leading events:<\/p>\n

11:00 GMT: CAD \u2013 Employment Change\/ Unemployment Rate<\/p>\n

– Canadian employment figures don\u2019t tend to have a large impact on other world economies. However, there is a possibility that today\u2019s releases will indeed have a large impact since other economies will be absent from today\u2019s calendar.<\/p>\n

– Even though the USD\/CAD\u2019s bearish channel was broken recently, the pair seems to have re-entered this trend. Should today\u2019s employment figures come in as expected, or better, there is a strong chance that a new bearish channel will form.<\/p>\n

Crude Oil Tips:<\/p>\n

– Given that the USD and Crude Oil are going to be absent from today\u2019s calendar, traders are advised to watch the price of Crude Oil simply because it has little reason to exit its current trend.<\/p>\n

– While it is true that Crude Oil prices have met resistance and turned downwards recently, yesterday\u2019s Dollar weakness has helped push oil prices back up. Since little news is going to be released which will adversely affect this trend, it is relatively safe to say that oil is a good asset to buy into for the short-term in today\u2019s trading.<\/p>\n

Forex Market Analysis<\/strong><\/em> provided by\u00a0Forex Yard.<\/strong><\/a><\/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":"

By Greg Holden – Going into this week\u2019s closing there are 2 pieces of vital information traders can focus on. The first are the news releases outlined below. The second is the recent upswing by the EUR, which some analysts consider hollow. The Canadian news releases detailed below are much more important in today\u2019s trading … <\/p>\n

Continue reading “USD\/CAD in Focus for Today\u2019s Forex Trading”<\/span><\/a><\/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-8428","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8428","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=8428"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8428\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}