FED: Reserves Drop Sharply On TGA Tax Collection Rebuild
Apr-17 21:19
Bank reserves dropped by $203B in the week to Wednesday, per the Fed's weekly H.4.1 release. The cur...
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ASIA: Coming Up In Asian Markets On Wednesday
Mar-18 21:13
| 0720GMT | 1520HKT | 1820AEDT | Indonesia BI Decision |
| Philippines Feb BoP |
ASIA: Coming Up In Asia Pac Markets Today
Mar-18 21:08
| 2145GMT | 0545HKT | 0845AEDT | New Zealand Q4 Current Account |
| 2330GMT | 0730HKT | 1030AEDT | Australia Feb Westpac Leading Index |
| 2350GMT | 0750HKT | 1050AEDT | Japan Feb Trade Balance |
| 2350GMT | 0750HKT | 1050AEDT | Japan Jan Core Machine Orders |
| 0000GMT | 0800HKT | 1100AEDT | Australia 2035 Bond Sale |
| 0430GMT | 1230HKT | 1530AEDT | Japan Jan F Industrial Production |
| 0600GMT | 1400HKT | 1700AEDT | Japan Feb F Machine Tool Orders |
| BoJ Decision |
USDCAD TECHS: Approaching A Key Near-Term Support
Mar-18 21:00
- RES 4: 1.4793 High Feb 3 and key resistance
- RES 3: 1.4700 Round number resistance
- RES 2: 1.4641 76.4% retracement of the Feb 3 - 14 bear leg
- RES 1: 1.4452/4543 High Mar 13 / 4 and a bull trigger
- PRICE: 1.4308 @ 16:42 GMT Mar 18
- SUP 1: 1.4242 Low Mar 6 and a key near-term support
- SUP 2: 1.4151/4107 Low Feb 14 / 50.0% of Sep 25 - Feb 3 bull run
- SUP 3: 1.4011 Low Dec 5 ‘24
- SUP 4: 1.3944 61.8% retracement of the Sep 25 ‘24 - Feb 3 bull cycle
The bull cycle in USDCAD that started Feb 14 remains intact, and moving average studies reinforce this condition - they remain in a bull-mode position. However, the latest pullback has exposed a near-term key support at 1.4242, the Mar 6 low. A clear break of this level would undermine a bullish theme and instead highlight potential for a test of 1.4151, the Feb 14 low and a bear trigger. Key resistance and the bull trigger, is at 1.4543, the Mar 4 high.
