* The dollar traded mixed on Thursday, having tested important technical levels in the crosses. The dollar index tested its 76.00 support before closing little changed at 76.24. US economic figures were mixed. Housing data was slightly weaker than expected while numbers on initial jobless claims and Philadelphia manufacturing were better than expected. The S&P 500 declined 3.28 points to 1,065.48. The yen fell modestly. The Bank of Japan maintained its key interest rate at 0.10% and upgraded its assessment of the Japanese economy. BOJ Governor Masaaki Shirakawa echoed the new government’s view that a strong yen could be beneficial in the long run. The euro rose for a 10th consecutive day. Sterling fell, testing the 1.64-area support as UK retail sales were flat. The Australian dollar was unable to penetrate the 0.88 resistance, pressured by a report on RBA intervention to slow the appreciation. The Swiss franc rose, even against the euro, despite new promise from the Swiss National Bank to counter any gains against the euro.
* The USD/CAD fell for a third day but did not penetrate the 1.06 support. Canada’s August LEI climbed the most since April 2002. The Bank of Canada has committed to keep its key interest rate at 0.25% until mid 1010. The LEI indicates the recovery should be well under way before then. Today’s Canadian inflation report showed modest inflation pressure, so the inflation targeting BOC may continue its easy monetary policy, which could start to support the USD/CAD. There is also the risk of a direct BOC intervention to support the pair. Still, the direction is going to be inversely related with stocks and commodity prices.
See more Click
ไม่มีความคิดเห็น:
แสดงความคิดเห็น