20 Aug 2013
Flash: CAD, nervous trading environment - TD Securities
FXstreet.com (Barcelona) - The CAD is opening up a little softer overall amid illiquid and somewhat nervous trading, said research teams at TD Securities.
Key Quotes:
“Developing market tensions remain front and centre but, for the most part, pressure on the likes of the INR and IDR have yet to spill more obviously over into the developed market space”.
“Investors are unsettled though as rising US yields imply Fed tapering expectations are setting more firmly into the market psyche.”
“Assets that have broadly benefitted from excess central bank liquidity such as large current account deficit, developing market currencies face a harder time attracting investment inflows and that trend is spilling over into the high beta FX pairs as well to some degree”.
“USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45”.
“The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.”
Key Quotes:
“Developing market tensions remain front and centre but, for the most part, pressure on the likes of the INR and IDR have yet to spill more obviously over into the developed market space”.
“Investors are unsettled though as rising US yields imply Fed tapering expectations are setting more firmly into the market psyche.”
“Assets that have broadly benefitted from excess central bank liquidity such as large current account deficit, developing market currencies face a harder time attracting investment inflows and that trend is spilling over into the high beta FX pairs as well to some degree”.
“USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45”.
“The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.”