The Forex market is very much paralyzed within a tight range as worries about the US fiscal cliff, Middle-East tensions and Greek debt negotiating seem to be keeping many investors sidelined. EUR/CAD left hand flows have been eating away at the dollar loonie outright, pushing the commodity sensitivity currency towards parity again. A think tank reporting early Friday that the ECB may have to cut certainly has hindered the single units progress as the week draws to a close.
The market chatter that the Canadian government is set to release new foreign investment guidelines, as early next week, clarifying the uncertainty of foreign ownership of energy companies in Canada, is likely to be CAD supportive. The global interest in Canadian asset resources, especially from China, could cap the USD/CAD progress of late. Mind you, the upcoming-shorted US holiday trading week does tend to throw a ‘spanner or two into the works.’
- US CPI Dragged Higher By Rent
- Sandy Pushes US Claims Much Higher
- 12% unemployment in US? Fed ask Bank to test for ‘deep recession’ scenarios
- Fed’s Fisher: Do not expect Fed’s aid on Fiscal Cliff
- Strong USD may prompt Fed to stop stimulus – Citigroup
- Afraid of FC-US Treasuries Yield Converge
- US Oil output to overtake Saudi’s by 2020
WEEK AHEAD
- JPY Bank of Japan Rate Decision
- AUD Reserve Bank Board Minutes
- GBP Bank of England Minutes
- USD U. of Michigan Confidence
- CAD Consumer Price Index
- EUR Euro-Zone Gross Domestic Product
- USD Consumer Price Index
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
