The USD/CAD looks interesting over the next couple of days. We have so far seen a basic retracement, with yesterday’s close very near the 0.382 Fibonacci of the latest rally to 1.0870. Today’s Ivey PMI and tomorrow’s combination of both the Canadian and US employment data for October are likely to tell us whether …
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Chart Analysis: USD/CAD
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The dollar was higher against the euro on Friday but lower versus other major currencies. US GDP rose at a 2.4% annualized pace in Q2 2010. While Q1 GDP was revised higher, estimates back to 2007 were revised lower.
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Rumors from Iran Central bank said that the management had decided to diminish EURO reserves to 20-25 percent from 50 percent and then convert the euro currency into the Dollars and Gold. It is also heard in the market that the sales of the first stage is begin and its target seems to be 15 billion was expected to be finish off …