ASIA: Coming Up In Asia Pac Markets On Thursday
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US: President Trump To Speak At White House Event Shortly
US President Donald Trump is shortly due to deliver remarks at a White House event on health care affordability. LIVESTREAM The event will be Trump's first formal public remarks since he returned from his State Visit to China on Friday.
MNI: US TSY TICS NET FLOWS IN MAR +$150.7B
- MNI: US TSY TICS NET FLOWS IN MAR +$150.7B
- US TSY TICS NET L-T FLOWS IN MAR +$81.3B
USDCAD TECHS: Corrective Bull Phase Extends
- RES 4: 1.3899 High Apr 8
- RES 3: 1.3869 76.4% retracement of the Mar 31 - May 1 bear leg
- RES 2: 1.3808 61.8% retracement of the Mar 31 - May 1 bear leg
- RES 1: 1.3793 High Apr 14
- PRICE: 1.3747 @ 16:30 BST May 18
- SUP 1: 1.3643 Low May 8
- SUP 2: 1.3550 Low May 1
- SUP 3: 1.3526 Low Mar 9
- SUP 4: 1.3482 Low Jan 30 and key support
A corrective cycle in USDCAD remains in play and last week’s climb reinforces this condition. The pair has traded through 1.3712, the 50-day EMA. This highlights a stronger S/T reversal and opens 1.3808, a Fibonacci retracement point. For bears, a reversal would mark the end of the correction and pave the way for a move towards 1.3550, the Mar 9 low and a key support. A clear break of this level would open 1.3482, the Jan 30 low.
