Forex: USD/CAD stalls ahead of 1.0100

FXstreet.com (Córdoba) - Given that the latest string of US data came in rather disappointing triggering risk aversion, the US dollar strengthened versus commodity currencies.

USD/CAD bounced from an 11-week low of 1.0050 scored during the European session and climbed to fresh daily highs, stalling just shy of 1.0100. USD/CAD is currently trading around 1.0090, 0.2% above its opening price, having peaked at 1.0099.

In terms of technical levels, above 1.0100 next resistances cold be found at 1.0170 (high Apr 29) and 1.0190 (21-day SMA). On the other hand, supports are seen at 1.0050 (daily low) and 1.0000 (psychological level).

May 1, 2013

Forex: EUR/USD relaxes to 1.3190 after US ISM manufacturing PMI

The EUR/USD printed its highest price just after the publication of disappointing US ADP data, ,at 119K in April instead of the 150K expected (also with the March figure being revised lower from 158K to 131K), and jumped to 1.3242 high. Then, profit taking happened and the pair erased its gains progressively back to the 1.3200 mark. With the release of US ISM data, the market tumbled below the psychological level and is now trading around 1.3190, as of writing.

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May 1, 2013

Forex: AUD/USD falls 100 pips and erases weekly gains, at 1.0282

The AUD/USD is plunging since the publication of US weak ADP employment, from 1.0350, and as went as low as 1.0275 low, falling by 100 pips on the day. The cross is currently trading at 1.0282, Friday’s close, which means it has fully retraced this week’s gains. The US ADP employment report came in lower than expected, at 119K in April instead of the 150K expected, also with the March figure being revised lower from 158K to 131K. Investors will now be eyeing the FOMC meeting.

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