The Canadian and Aussie dollars are seeing some improvement today, USD/CAD presently down at 1.2855 from a European opening around 1.2930, while AUD/USD has advanced to .6430 from around .6340. Both currencies are garnering some support from the overnight release of Chinese manufacturing PMI, which rose to 49.0 in February from 45.3 in January, and is leading some (not here though) to voice tentative hopes of an early recovery in the Chinese economy. There is also talk that China is readying another large stimulus package. Indeed it has to be noted that the CRB index has seen a decent recovery from recent lows.
There is market talk of barrier options up at 1.3000 in USD/CAD, with defence of said options expected. Above, at 1.3000 though 1.3025, there is talk of Canadian corporate selling interest lying in wait.
In AUD/USD there is talk of sell interest lying at present .6430 all the way up to .6500.
