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Forex Flash: USD/CAD targets 1.0185/1.02 near-term – TD Securities

The CAD is driven more by the “usual suspects” of commodity prices and interest rate differentials than risk appetite, and USD/CAD gains on Friday were mainly moved by weak employment data. Tomorrow, BoC’s Carney & Macklem will testify in Ottawa while President Obama delivers the State of the Union.

"Three days’ worth of gains (Wed-Fri) confer a positive feel to the longer-term charts and support the impression that we have had for some time now that the broader trend here is higher", wrote analysts Shaun Osborne and Greg Moore. "The trend up looks well-entrenched on the charts and we expect limited downside for the market from here", they added, pointing to support at 0.9990/10 (200-day MA), while targeting 1.0185/1.02 near-term, then 1.03.

American equity markets open negatively Monday

The US Stock market experienced a slightly positive opening Monday amidst a respite of economic data in the United States. Beginning with the indices and composites, the NASDAQ fell -0.19% as it settles in region of 3187.57, up -5.98 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1515.72, descending -2.23 points or -0.15% at the time of writing. Finally, the Dow Jones has moved lower at the opening as well, trading in the zone of 13951.31, presently -0.30% after a decline of -41.66 points.
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Cyprus rejects possibility of imposing losses on bank depositors

Propositions of alternatives to the full bailout for Cyprus, which were included in the European Commission’s confidential memorandum mentioned by the FT in the European morning, were rejected by the country’s government which said that imposing losses on bank depositors would be against its law and constitution.
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