concrete explanations inthe dramatic moves, apart from position-squaring.
At 3:29 p.m. (1929 GMT), the Canadian dollar CAD=D4 wasat C$0.9629 to the U.S. dollar, or $1.0385, well off the day'slows, but still down from C$0.9611 to the U.S. dollar, or$1.0405
my blog , at Wednesday's North American session close.
Analysts cited a combination of factors for the broaderrebound in riskier assets
my blog , including a bounce in the euro andsignals that the White House and Congressional Republicans weremoving closer to an agreement on raising the national debtceiling.
Askari said that uncertainty over the Bank of Canada's nextpolicy move is a factor weighing on the currency, as investorseagerly await crucial inflation numbers next week. ECONCA
The recent collapse in commodity prices has raisedquestions about how high the Bank of Canada, which targetsinflation
my blog , is likely to raise interest rates over the rest ofthe year. BOCWATCH
Still
my blog , Askari noted a lot of interest from long-term assetmanager to buy Canadian dollars between C$0.9675 and C$0.9725.
Jack Spitz, managing director of foreign exchange atNational Bank Financial said the next important resistancelevel for the currency pair lies around C$0.97-C$0.9720,followed by the 90-day moving average of C$0.9765 and a biggertrendline at C$0.9800.
"The market continues to be biased for an outperformance bythe Canadian dollar against the U.S. dollar," he said, notingthe domestic currency will likely need to fall back throughparity in order for the market to start thinking aboutreversing its net long positions.
Boosting the currency in recent days has been talk ofpositive flows on the back of foreign acquisitions and buyingfrom Asian central banks.
Finance Minister Jim Flaherty has also signaled that whilecurrency volatility is unwelcome
christian louboutin sale authentic nuclear crisis, there's are advantages tohaving a strong currency. [ID:nN10140882]
Canadian bond prices retreated as they tracked their U.S.counterparts, which were hurt by the lackluster 30-yearTreasury bond auction and renewed appetite for stocks andcommodities after recent sell-offs