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22 Apr 2014
CAD under-performing - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained the Canadian dollar is the only major currency that has slipped against the dollar so far today.
Key Quotes
"There is some concern that the delay in the Keystone pipeline has dampened sentiment."
"The US dollar had slipped to about CAD1.0860 on April 9 and has now closed the North American session above CAD1.10 for four sessions coming into today. Our bias remains on the upside though initial resistance is pegged in the CAD1.1070 area."
"The wholesale trade report today is unlikely to elicit much of a market reaction. Tomorrow’s retail sales report is more important. Canadian officials are hoping for a transition from household consumption toward exports and investment. After a 1.3% rise in January retail sales, a 0.5% gain is expected in February’s report."
Key Quotes
"There is some concern that the delay in the Keystone pipeline has dampened sentiment."
"The US dollar had slipped to about CAD1.0860 on April 9 and has now closed the North American session above CAD1.10 for four sessions coming into today. Our bias remains on the upside though initial resistance is pegged in the CAD1.1070 area."
"The wholesale trade report today is unlikely to elicit much of a market reaction. Tomorrow’s retail sales report is more important. Canadian officials are hoping for a transition from household consumption toward exports and investment. After a 1.3% rise in January retail sales, a 0.5% gain is expected in February’s report."