- March 27, 2018
- Posted by: Joey Benedid
- Category: Market News
The U.S. dollar is broadly higher with month end flows beginning to dominate the landscape as players try to get one step ahead of anticipated thin markets heading into the Easter long weekend. U.S. equity markets bounced back strongly yesterday and global indices are all in positive territory today with the only release of note will be consumer confidence numbers due out at 10 AM EST.
USD/CAD tested the 1.2825 level once again, actually trading slightly lower for a brief moment, and has bounced back towards 1.2900 off month end USD demand as previously noted. Key levels remain 1.2820 and 1.2950 (see chart) with a break of either side signaling another 100-150 points in that direction. With stochastics (bottom panel of chart) turning positive I would anticipate a move higher.
