FOREX: USD/CAD retraces from highs, around 1.0280

FXstreet.com (Barcelona) - The US dollar is extending its gains against the Canadian dollar on Tuesday, pushing the cross to session highs in the vicinity of 1.0285, although retracing some ground to the current levels around 1.0275 ahead of Canadian retail sales. Prior surveys expect sales to expand at a monthly pace of 0.3% in February and 0.5% excluding the automobile sector.

As of writing, the cross is advancing 0.18% at 1.0276 with the next resistance at 1.0295 (high Apr.17) followed by 1.0315 (high Mar.8) and finally 1.0329 (high Mar.7).
On the downside, a breach of 1.0217 (MA10d) would bring 1.0210 (low Apr.17) and 1.0203 (low Apr.16).

Apr 23, 2013

Forex Flash: Apple earnings capture focus – Deutsche Bank

The main afternoon event for macro watchers today is the March quarter results for Apple. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Tech earnings have disappointed so far this reporting season particularly on the revenue side. Add to this the fact that Apple's share price has shed 25% in the year-to-date, and it's fair to say that markets are bracing for a reasonably poor quarter from the S&P500 heavyweight.”

Forex: EUR/CAD awaits NY opening at 1.3350 after 100-pip fall on Europe

The EUR/CAD may have a ride today as the Canada retail sales comes out at 12:30 GMT and BoC Governor Carney will make a speech. Also, the US economic calendar has plenty to affect the Loonie, with US Markit manufacturing PMI, Richmond Fed manufacturing, retail sales and Redbook Index. For now, the cross is down by -0.37%, held by the 1.3330/40 area after falling 100 pips on the European opening as Markit reported concerning PMI figures for Germany and investors are concerned with the disappointing China HSBC manufacturing PMI posted at 50.5 instead of the 51.5 consensus.