Daily Forex Commentary for July 8, 2009

July 7th, 2009 • Related • Filed Under




July 8, 2009

Spotlight on USD CAD

Lower equity prices and crude oil have been helping to support the USD CAD, but a nearby resistance level is preventing this currency pair from rallying sharply higher. Although it is unclear fundamentally why this market is stalled from rallying up to its main upside target at 1.1922, it is clearly not attracting the buying power that it saw over the past month. One reason could be that the declines in the equity and crude oil markets have already been factored into the price. Another …
Read More …

Post a Response

  • Polls

    How Has The U.S. Recession Affected You?

    View Results

    Loading ... Loading ...
    • Improve the web with Nofollow Reciprocity.