FX Highlights

  • The USD/JYP continues channel type trading range, caught between 94.50 - 95.28, Japanese exporter sales helped push the YEN complex lower, head and shoulder pattern could extend that move
  • The EUR/USD spiked higher following an overnight low of 1.4190 on the heels of better than expected German business confidence data
  • The GBP weakened vs. EUR after a report yielded UK economy shrank more than double expectations
  • The CAD bolts to a seven week high as firm crude oil and commodity pricing coupled with BOC enthusiasm hinting that the country's recession is ending, BOC continues to investigate possible leaks of economic data, security review by Statistics Canada in the works
  • AUD/USD benefits from better stocks and gold as volatility falls, new highs in sight as positive tech pattern supports bulls
  • Pre-open US stocks point higher again, S&P futures were mixed early but have firmed
  • OIL prices mixed

Upcoming Events

  • US- University of Michigan Confidence, expected 65 vs. June 64.6
  • CAN- No key economic data due out