Excerpt from: Forex Analysis
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| August 26, 2010 | | Currency trading with USD/CAD | The U.S. dollar is moving lower against the Canadian dollar in forex trading on the currency market today. Indeed, the U.S. dollar's recent rally attempt has been cut off, as the greenback moves mostly lower against other currencies on the FX market.
News that initial claims for unemployment have dropped is not helping the U.S. dollar, although U.S. stock futures are pointing to a higher open. Instead, it appears that Canada's economy continues to show some strength, while the U.S. economy is still in doubt.
In spite of the latest employment data, there are still concerns about the U.S. economic recovery and the underlying fundamentals of the U.S. dollar. This is not much of a surprise, since the recovery has been rather slow in the U.S., and full of fits and starts.
| Topic Tags: Canadian dollar, currency trading, economy, forex trading, FX market, U.S. dollar, USD/CAD | |
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