News Headline Summary

Technical resistance in USD/CAD seen at the 200DMA line at 0.9993, trades 0.9969 (+2pips) last ahead of BoC's Carney speech later on in the session

Analysis details (12:18)

- Market talk of offers in USD/CAD at 1.0000 and then at 1.0020.
- Earlier in the week, Bank of Canada governor Carney repeats that the strength of CAD is creating a headwind for economic growth in Canada.
- Back in October, the BoC kept the benchmark borrowing rate unchanged at 1.00%, but the statement highlighted concern over household debt and that higher rates will likely be required over time.

‘Market talk’ – Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.

08 Nov 2012 - 12:18 - Forex Bank Speaker - Source: RANsquawk

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