Forex Updates- USD/CAD and USD/JPY Updates
Saturday, May 9, 2009
Most of the countries around the world are involved in the Forex Trading market, where money is bought and sold, freely between buyers and sellers. Forex today, provides a great substitute to the stock market trading for the traders and investors.
Updates
On Friday the CAD (USD/CAD) loses approximately 200 pips since positive Canadian employment data coupled with better than expected U.S. employment data and increasing equity markets led to the Canadian Dollar escalation against the greenback. The couple closed the week testing the 1.1500 level as sustain and trading below all of the major daily easy moving averages. The Canadian unemployment rate stayed at 8.0% in April and the economy added 36,000 jobs in April.
The Yen (USD/JPY) dropped 70 pips despite equity markets moving much higher. The USD weakened across the board and it was reflected in the swissy. The pair lost almost 250 pips, on Friday, testing the 1.1050 level at the close. For the week, the pair dropped almost 300 pips. The Swiss unemployment rate rises to 3.4% in April from 3.3% in March.
Updates
On Friday the CAD (USD/CAD) loses approximately 200 pips since positive Canadian employment data coupled with better than expected U.S. employment data and increasing equity markets led to the Canadian Dollar escalation against the greenback. The couple closed the week testing the 1.1500 level as sustain and trading below all of the major daily easy moving averages. The Canadian unemployment rate stayed at 8.0% in April and the economy added 36,000 jobs in April.
The Yen (USD/JPY) dropped 70 pips despite equity markets moving much higher. The USD weakened across the board and it was reflected in the swissy. The pair lost almost 250 pips, on Friday, testing the 1.1050 level at the close. For the week, the pair dropped almost 300 pips. The Swiss unemployment rate rises to 3.4% in April from 3.3% in March.
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