The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
Forex today: markets have come to life
- The US dollar is under pressure again. The greenback started losing positions yesterday as China had imposed charges on US goods. Moreover, today all markets work in the normal course as Easter holidays ended. The US dollar is near $60.
- The Reserve Bank of Australia announced an interest rate today. As expected, it remains at the same level of 1.50%. However, it did not keep the Aussie from rising. The Australian dollar managed to gain some points. So the AUD/USD pair is trading above 0.7690. The resistance lies at 0.7715. Tomorrow investors will pay attention to the Australian retail sales data. If the actual one is greater than the forecast, the aussie has chances to break the resistance and move further.
- The Canadian dollar is strengthening. Talks that Trump plans to agree on a previous version of the new NAFTA agreement to the middle of April supported the loonie. The USD/CAD pair is consolidating between the March low at 1.2800 and the 50.0 Fibonacci retracement level near 1.2930. Investors will take into consideration countries' jobs report on Friday (15:30 MT time). The data will create risks for both currencies.
- The greenback managed to overcome the yen after the three-day fall. Yesterday the pair rebounded from 61.8 Fibonacci retracements at 105.60 and turned around. The resistance lies at 106.50.
- As there are no important data and events in Europe, the euro is consolidating within 1.2280-1.2340. Investors are anticipating a big amount of US data on Wednesday and Friday. Let’s see if the greenback finds a support.
- The New Zealand dollar is gaining momentum. Today is the day of the Global Dairy Trade auction. NZD/USD is trading within 0.72-0.7295. Let’s see how milk industry will influence the kiwi.
- Bitcoin is climbing to $7,400. Despite worries that bitcoin will not be able to move out the range of $6,400-$7,100, the cryptocurrency broke the resistance at $7,100 and moved further. Many analysts predicted difficult times for bitcoin in March but were sure about its significant rise in April. Let’s see.
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