Forex Introducing Brokers News - Loonie On Its Way Up?

April 29, 2010 - PRLog -- Forex introducing brokers - The Canadian dollar extended gains against the dollar on Thursday, reaching a maximum of two days before key data on U.S. jobs and the testimony of the Bank of Canada Governor Mark Carney.

USD / CAD shed 0.72% of 1.0019 hit during the afternoon European trade, its lowest level since Tuesday. The couple were likely to find support in 0993, low of 21 April and the 1.0216 resistance, the high of 19 April.

Rebound loonie against its U.S. counterpart also came as fears over the euro zone sovereign debt decreased slightly, after the EU Economic and Monetary Affairs Commissioner Olli Rehn said the EU should conclude negotiations with Greece "in days" in the aid package for the indebted country.

Also Thursday, the Canadian dollar rose against the yen, with the CAD / JPY 93.87 0.75% at jumping success.

Later, U.S. Department of Labor was established to publish a weekly report on initial claims, an important indicator of overall economic health.

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