The US Dollar started this morning weaker and with a lack of any scheduled major releases today it had a lackluster morning. The US Dollar continues to be driven by volatility in the Yen, Aussie,
and Kiwi which have all been strengthening, pulling the US Dollar down. The Aussie and Kiwi have been
strengthened by higher gold prices which rose sharply at the beginning of the
day, the Yen fell back today as traders view it as overbought. The Euro is stronger and was able to make some gains again
today with EURO.CAD trading back near 1.3600
The Canadian Dollar continues
to trade in a back and forth motion near 1.0200 with little short-term
direction.
Tonight will see the release of the New
Zealand Interest Rate
announcement from the Reserve Bank of New Zealand which is projected to remain unchanged, if there is a decision to raise the interest rate then we will see
some volatility in overnight trading. From Japan there will be the release of
the level of foreign investment in Japanese securities
which could cause some volatility if we see investment in Japan falling off
Have a great evening
Yonah
No comments:
Post a Comment