Animal Spirits Roar Like A Lion To Start The New Month

The US dollar jumped from the three-year low near CAD1.2470 to almost CAD1.2750 ahead of the weekend. It is seeing those gains pared today. The first retracement target is near CAD1.2640. Consolidation is to the point as momentum traders have lost some conviction. The peso has fallen out of favor. The greenback jumped from around MXN20.35 in the middle of last week to almost MXN21.05 ahead of the weekend. It settled last month near MXN20.8550, and after falling to almost MXN20.69, it is back aroundMXN20.8350 in Europe.  

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Read more by Marc on his site Marc to Market.

Disclaimer: Opinions expressed are solely of the author’s, based on current ...

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