Asian Open Commentary by Andrew Taylor
twitter: @ATaylor_GFT
Top Headlines
· ECB stays pat on rates with unexpected hawkish tone
· US mixed economic data provide no determinate to likelihood of stimulus from Fed.
· Oil – WTI down 2.6% on US inventories and growth concerns
· Japanese markets closed for holiday
US equity markets closed slightly lower overnight after a mixed bag of data providing no real direction to hang the hat on. The ECB
08 Apr
Posted by: Joshua Gibb in: Forex Tips
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02 Apr
Posted by: Joshua Gibb in: Forex Tips
We are in the final days of February and markets always have an added tendency of additional volatility on the end of month flow-related activity.
Even though there are expectations that the Bank of Canada could raise interest rates soon, and some indication of improved economic data, the loonie is losing ground in forex trading today, thanks to risk aversion.
Worries about the economic situation in Europe, as well as concerns about China, are weighing on markets today, and affecting currency trading. High beta currencies are losing ground to a US dollar in demand as a safe haven.
Loonie is also losing support as commodities fall. Gold and oil prices are lower today.