Canadian Finance Minister Flaherty says that he is always concerned about volatility in the CAD.

Very close to median forecast of +20k.  Unemployment fell to 8.2% from 8.3% in January.

USD/CAD down at 1.0165 with stops through 1.0200 tripped.

This latest report on FX market speculative positioning is for the week to March 2nd:

• Long USD positions were smashed by over 75%
• This was primarily achieved through a big increase in JPY longs ie USD/JPY selling
• AUD and CAD buying continues, though still in moderation
• The record EUR shorts from previous week were reduced by a little over 5%

It looks like the market decided to transfer a significant portion of it’s short EUR/USD positions into EUR/JPY positions through the selling of USD/JPY. These look to have been spooked by the ‘war-chest’ proposal from the Japanese government and therefore we had the big spike in USD/JPY and in the JPY crosses on Friday. Short term speccies forced to cover, as usual the biggest driver in the FX market.

USD/CAD is moving lower, presently at 1.0390 from early 1.0425 amidst reports of model funds selling. Maybe the hedge funds in question are following the Solange model.

Greece teeters on the edge as the time to refinance maturing debt draws close. The pound shudders at the prospects of a hung parliament and huge out-bound M&A flows swamp the market. Where do you hide?

At least for today, the commodities currencies have made a compelling place to stick your cash. I’m not sure that will remain the case as equity markets are getting a seasonal lift as fresh cash is put to work at the beginning of the month. I’m not sure risk appetites will be quite as robust amidst so much uncertainty over whether the expected Greece debt guarantees will assuage Mr. Market.

An expected rate hike from the RBA tonight coupled with firm GDP from Canada are helping underpin the the currencies. Also helping is a disruption in Chilean copper supplies after the massive earthquake over the weekend.

AUD/USD offers extend up to the 0.9020 level (0.9011 is the intraday high so far). Stops sit above the 0.9070 high last Tuesday.

USD/CAD briefly probed below 1.0425 support. 1.0380 is the next downside target if gains are sustained for the Loonie.

That’s what I’ve just been told. The entire Canadian nation is gathered around it’s TV screens. Update; the US were leading Canada 1:0 early in the game but Canada have equalised as I write. 1:1 the score now. USD/CAD unchanged.

I’m hearing of some good buying interest in the AUD/USD towards .8920 and that the stops above .9050 are getting particularly big also. Not sure what is behind this but the market seems to be short. Also hearing of good selling interest in USD/CAD.

Canadian January employment has come in at +43k, better than median forecast +15k.

Unemployment rate declined to 8.3% from 8.4% in December, better than median forecast 8.5%.

loonie has firmed, USD/CAD down at 1.0720 from around 1.0750 post release.

Oil has dipped below $74; gold is around $1086 and the CRB is down 1%, showing that commodity prices are soft across the board this morning. China’s moves to tighten liquidity (raising reserve requirements and limiting lending via monthly quotas) are helping cool the market’s ardor for the reflation trade.

AUD/USD is near its lows for 2010, down to 0.8940 before a tiny bounce. USD/CAD is breaking out to the topside, trading now at 1.6665. Very formidable resistance at 1.0750 is the topside target for USD/CAD.

Traders say Goldman Sachs has put out a bearish report on the Canadian dollar and on Gold. Their target for USD/CAD is 1.15. I’ve not been able to dig up the gold target yet.

USD/CAD trades at trend highs of 1.0540/50, with weak Canadian retail sales contributing to the slide in the Loonie.

• 1
• 2
• 3
• 4
• 5
• ...
• 35
• >