Forex: USD/CAD falls to daily lows after Fed projections

FXstreet.com (San Francisco) - The US Dollar has reacted down after the FOMC decision to maintain its interest rate unchanged and the Fed economic projections for the upcoming years. The USD/CAD fell to 1.0280, extending its decline from 1.0270, where the pair found support and it has begun to rise to trade at 1.0250.

With 0.25% losses on the day, the USD/CAD is trading inside a slightly bearish trend according to the Fxstreet.com Forex Studies. MACD, CCI and Momentum indicators are pointing bearish while the Stochastic is neutral in the 1-hour chart.

Next supports are at 1.0335, 1.0225 and 1.0215. On the upside, resistances are at 1.0270, 1.0275 and 1.0280.

Mar 20, 2013

Forex Flash: Cyprus quagmire lingers on – Deutsche Bank

In many ways the recent Cypriot drama and rejection has led everyone back to square one as the fact that the revised version of the bank levy suggests that the "reprofiling" of the levy, which was open to negotiations with the troika, was not the main issue.

Forex Flash: UK economy could benefit from fall in GBP – ANZ

The UK budget at best is neutral for the GBP, however the focus on monetary activism implies further, near-term easing in monetary policy. Indeed, “Sub-trend economic activity and an absence of wage inflation (real wages are actually falling), suggest that any inflation feedback from the exchange rate will prove temporary.” Writes the ANZ Research Team. With inflation expectations broadly stable, sterling's weakness should not be an obstacle to further easing.