Intraday Market Thoughts
Archived IMT (2010.04.29)
by
Apr 29, 2010 13:35
USDCAD drops back closer to parity as CAD extends gains on risk bounce following Feds prolonged dovish stance on interest rates. With the risk of another sub-parity print, possible hedges emerge on short AUDCAD, which is likely to call up 0.9270 ahead of next weeks RBA decision. Considering the extent of the VIX spike earlier this week and oils likely struggle at the 85.10 trend line resistance, USDCAD bulls are likely to show more conviction at 0.9970s. Another way to hedge CAD shorts vs USD would be to long CADJPY towards 94.30s.
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