For the first time in a long time, there is a long USDCAD opportunity.  ’Risk’ may take a beating.

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Though risk appetite wasn’t pitched into a boundless recovery, the rebound from the shock this past Tuesday that Greece was downgraded to junk status has helped lift an already buoyant energy market. Furthermore, with the dollar on the retreat and encouraging growth numbers coming off the US economic docket, there was enough fundamental fodder for oil trades to push the market out of a three-month congestion pattern and on toward the 18-month swing high set at the beginning of the month.

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Despite another SP downgrade in the EU during the US hours - this time a one notch move on Spain to AA - the risk trade is holding up slightly better relative to the freefall of the prior session. US markets finished slightly higher by 0.5%, boosted by t…
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The Pound has continues to trade sideways against most currencies as the upcoming political elections in the U.K. will have a major impact on how the future course of fiscal and monetary policy. Different opinions from the various political parties on how to tackle the country’s bulging budget deficit and maintain the current recovery has led to a great deal of uncertainty over the future course of action. Therefore, we may see the GBP/JPY continue to trade in its current range, creating an ideal scalping environment.

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The Euro-Zone CPI –estimate for April rose to 1.5% from 1.4% as expected which was the highest in more than a year. Increasing energy costs have started to put upward pressure on inflation, but existing slack in the region is expected to limit potential appreciation.

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Equities: European equities opened Friday mostly higher on hopes that a rescue plan for Greece could be revealed by as soon as this weekend, as evidenced by the sharp rally being seen in Greek banking shares. As of 5:50 EST, indices have moved off of thei…
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The Euro rallied for the third day to reach a high of 1.3333 during the overnight trade, and the single-currency may continue to trend higher going into the North American session as market participants raised their appetite for risk.

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The Czech koruna firmed slightly as pressure on Greece (and Portugal) eased finally yesterday. The mildly positive price action for the koruna was primarily a result of foreign events, rather than the fact that the Czech MinFin upgraded its forecast for t…
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EURUSD As the support at 1.3210 was strongly defended with a correction rebound toward 1.3300 We accounting for that the current quite flat movement may slide not deeper than at 1.3280 and then jump 50 pips at least. Exactly the resistance at 1.3380 is p…
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Currencies have received and added boost into Friday trade with the gains coming from the reported agreement by Greece to a Eur24B austerity plan.

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