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Forex

Forex Markets Tread Water, Canadian Dollar Firm as Supported by Recovery in Oil Price

Forex Markets

The forex markets are treading water in a rather dull start to the week, staying mostly in ranges.

Other financial markets are mixed too. NASDAQ hit record high overnight and closed up 0.36% at 6410.81. But DOW and S&P 500 closed down by -0.31% at 21513.17 and -0.11% at 2469.91 respectively.

Treasury yield staged a mild recovery with 10 year yield closed up 0.022 at 2.254. Asian markets are trading in tight range with mild loss in Nikkei as it struggles to regain 20,000 handle.

In other markets, Gold is losing some upside momentum ahead of 1260 but is staying near term bullish. WTI crude oil is back above 46.6 on recovery and helped keeping USD/CAD below 1.25 handle.

Risk Warning:

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul