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USD/CAD, AUD/CAD Flows − CAD firm but rally loses momentum

Tue, Nov 3 2009, 22:34 GMT
by FXMarketAlerts Team

FXMarketAlerts


Published at 16:41 (GMT) 03 Nov

USDBRL

CAD rallied across the board while USD was sold to send USD/CAD under the 1.0700 level to lows of 1.0683. The move found technical support in the 1.0680/55 area and has since bounced back above 1.0700. Equities are not giving much direction and either is crude oil, but the bounce in gold gave some support. Still, while CAD is firm across the board there is little at this point to suggest that it will continue to run-away to the upside, athough with AUD losing some vogue as the market pares back agressive bets on the RBA's tightening cycle AUD/CAD is having trouble find a floor. SI

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