The Canadian dollar resumes its downfall against the US dollar as USD/CAD crosses the closely watched 1.03 line. This happens as European troubles get worse, especially in Spain. Canadian Dollar Falling - Click image to enlarge Spanish yields continue rising after the ECB rejected a Spanish idea to recapitalize banks in an indirect manner via the ECB. A report that the ESM bailout fund could recapitalize banks provided some relief, but this was only temporary. In Italy, an auction of 10 year bonds resulted in yields topping 6%. This is very high for the euro-zone third largest economy. If the pair confirms this break, the next level of resistance is pretty far, only 1.0423. USD/CAD already rose above 1.03 very briefly on Friday to hit the highest levels since January. The year-to-date high was 1.0319. Crossing this line would send the pair to levels last seen in December, where 1.0423 was stubborn resistance. For more on the loonie, see the Canadian dollar forecast. Also the falling price of oil is weighing on the C$. WTI Crude and Brent are falling. For more about oil, see Trading NRG. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next US Pending Home Sales Plunge by 5.5% Yohay Elam 10 years The Canadian dollar resumes its downfall against the US dollar as USD/CAD crosses the closely watched 1.03 line. This happens as European troubles get worse, especially in Spain. [caption id="attachment_35883" align="alignnone" width="610" caption="Canadian Dollar Falling - Click image to enlarge"][/caption] Spanish yields continue rising after the ECB rejected a Spanish idea to recapitalize banks in an indirect manner via the ECB. A report that the ESM bailout fund could recapitalize banks provided some relief, but this was only temporary. In Italy, an auction of 10 year bonds resulted in yields topping 6%. This is very high for the euro-zone… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
