Wednesday, April 6, 2011

canadian dollar forecast april 2011

canadian dollar forecast april 2011 : Many important events are lined for this week with BOC Business Outlook Survey, Ivey PMI, Building Permits and more. Here is an outlook on the market-movers ahead and an updated technical analysis for USD/CAD, now on lower ground.

The currency had the biggest weekly gain since November as U.S. employers added more jobs in March than forecast and Chinese manufacturing accelerated. Oil and gold gained, and the Canadian dollar strengthened the most versus the yen during a week since 2009. Canada’s employers added jobs for a sixth month, a report next week may show.

Canada Dollar Gains to Strongest Since 2007 on Recovery Outlook
Canada’s dollar rose to a three-year high versus its U.S. counterpart and approached the strongest level since 1950 as speculation the global economic recovery is quickening fueled investor appetite for higher-yielding assets. Read More....

Euro Rallies Before ECB Meeting; Dollar Declines to Record Against Aussie
The 17-nation currency remained higher after Portugal’s Prime Minister Jose Socrates said in a televised address that he has asked the European Union for financial assistance. The greenback dropped to a record against the Australian dollar and the lowest level versus the Canadian currency in more than three years on the view the Federal Reserve will trail other central banks in boosting interest rates. Read More....

Canadian Dollar Strengthens As Oil Hits 30-month High
The Canadian dollar strengthened against its major opponents on Wednesday morning in New York, extending its previous sessions' rally versus the US dollar and the Japanese yen while bouncing back from its early lows against the euro as the price of crude oil is trading a 30-month peak of above the $108.50 level. Read More....

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