FXstreet.com (Barcelona) - U.S Markets have opened mildly upwards on Tuesday after Monday's sell-off, and the BoC has cut interest rates to the lowest level ever, the USD/JPY has soared through 98.00, while the Euro and Pound remain in range.
Wall Street is going to increases of about a half percentage point on Tuesday after Monday's sell-off, and the Bank of Canada has announced a 0,5% basis points rate cut, which leaves its key interest rate at 0,50% the lowest level ever.
On the macroeconomic domain, Pending home sales have posted a larger than expected decline in January; 7% down instead of the 3% expected by the market.
USD/JPY soared, Euro and Pound back an forth
USD/JPY has been the major mover of the session, the pair has broken through the upper level of the flat trending channel of the last seven days, and has risen through 98.00 and advances towards resistance level at 98.70 (Feb 26 high).
The Euro has moved back and forth between 1.2660 resistance and 1.2580, at the moment the Euro advances aiming towards intra-day low at 1.2540.
For the Pound, resistance level at 1.4135 has proved too strong for the pound and the second attempt to break it has failed and the pair has turned around towards 1.3990 support level.
The USD/CAD moved down from 1.2935 to 1.2800 before the BoC released its monetary policy decission, and it pared losses after the release, but the pair seems to have found resistance at 1.2935 intra-day high and atempts to get through have failed so far.