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Tuesday, April 26, 2011

Dollar against the Canadian dollar a modest rebound before Fed meeting market caution

on Tuesday (April 26) in Asia, US dollar/Canadian dollar remained at 0.9530 glimmer of a modest rebound, narrow regional consolidation of the overall maintained at 0.9530-0.9560.

for dollar/Canadian dollar favourable factors include: investors cautious sentiment in the US Federal Reserve (FED) to improve before the meeting; began to decline in commodity prices, spot Gold falls to $ 1500 per ounce mark below; international crude oil prices is blocked at the level $ 113.5/barrel.

however, the market expects Canada Bank (BOC) will raise rates in the months ahead, and the Fed will not exit second round of the light made easing in advance, it makes us dollar/Canadian dollar rebounded restricted.

some analysts pointed out that, US dollar/Canadian dollar daily chart indicators point to varying MACD bearish, and stochastic indicators rising. He predicts that exchange rate of the resistance above is at 0.9563, and then 0.9600; supporting and 0.9500 below.

13:37 ', $ c $/0.9550/54.