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Will USD/CAD continue its downtrend?
2007-09-17 16:59:00
USD/CADLong signal Buy a break of resistance level at 1.0380Buy a break of resistance level at 1.0330Buy a bounce of 1.0260Short signal Sell a break of support level at 1.0260Sell a break of support level at 1.0015Sell a failure of breaking 1.0380Technical AnalysisThe US dollar continues the downtrend against the Canadian dollar; according to technical indicators the market has strong supplies. Other indicators as ATR, ROC, and RSI, are giving us bearish signals. The daily chart shows that the USD/CAD recently breaks the support 1.0330 and fails to make higher then 1.0380FundamentalThe U.S. and Canadian dollars, which traded in tandem 94 percent of the time since 2000, decoupled in May and now have diverged for the longest stretch this decade, according to data compiled by Bloomberg.While the worst housing slump in 16 years threatens to slow U.S. growth, record oil prices and rising costs for copper and zinc are boosting Canada's exports and allowing the government to balance its b...
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Sterling fall as Northern Rock Woes Deepen
2007-09-17 16:58:00
Asian and European stocks fell on Monday while sterling hit a one-year low as concerns over financing for banks grew after UK mortgage lender Northern Rock tapped the Bank of England for an emergency loan last week.Safe-haven government bonds rose as a result, while the dollar held near last week's 15-year low against major currencies ahead of an expected U.S. interest rate cut thisweek. The Northern Rock woes are fanning concerns that more financial institutions may have been hit by high interbank lending rates even though money markets have showed signs of stabilizing.The recent rise in interbank lending rates could also squeeze corporate and other borrowers, which would in turn weigh on companies' profits and slow consumer spending.”The current Northern Rock situation will put a renewed focus on a link between consumption and housing. There will be tighter lending standards in the next 12 months at a time when the leverage is at a record high," said Michael Metcalfe, senior s...
More About: Fall , Epen

Link To This blog
2007-09-16 04:33:00
Link To This Blog by copy and paste html code to your website.Blog Banner Look Like Copy and paste my html code below.OR
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Relax Yourself, Later Continue Trading
2007-09-15 07:50:00
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More About: Trading , Relax , Conti