Wednesday, 7 Apr 2010

USD/CAD Breaches Parity

Recent surges in the value of the Canadian Dollar (CAD) have helped to push the currency beyond parity with the US Dollar. Losses suffered by the greenback from the past month's employment figures have also had a positive effect on the Loonie. Despite this pair climbing back above 1.0000 in today's mid-day trading, there is the possibility that the USD/CAD's trend will remain down in the short-term.

Climbing commodity prices are also feeding the recent sell-off of US Dollars. It seems Gold, Silver, and Platinum have each shot above major resistance levels and are only now beginning to see technical indicators calling for downward pressure in the near future.

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