• Financial Institutions
  • Corporations
  • Travelers
  • Foreign Bank Note Exchange
  • International Drafts
  • International Wire Transfers
  • Global EFT
  • Foreign Check Clearing
  • Foreign Draft Issuance
  • Travel
  • Technology Companies
  • Payroll
  • Healthcare
  • Nonprofit
  • Partnerships

USD trading mixed into NY trade

Ryan March 26th, 2019
USD trading mixed into NY trade



  • USDCAD: Dollar/CAD is trading with a neutral to bid tone this morning as the broader USD bounces off its overnight lows.  There’s still not much to write home about so far this week as the headlines have been few and far between.  The US Housing Starts figures for February just missed expectations, coming in 8.7% lower MoM versus -1.6%.  We think the market can drift higher here so long as chart support holds in the 1.3390s, however a gallop higher in May crude oil prices above the 59.20s this morning might make it difficult.

  • EURUSD: There’s a whole lot of nothing going on in EURUSD as well this morning, with a lack of data catalysts seemingly leaving traders content to hold the 1.1300 support level for now.  USDCNH is trading steady this morning, but is creeping up on trend-line resistance at 6.72.  We think a break above this level would be EURUSD negative.

  • GBPUSD: Sterling is trading bid this morning, but within yesterday’s price range.  The major Brexit headline so far today has been an apparent softening in stance from influential UK lawmaker Rees-Mogg.  More here.  This is faint glimmer of light for Theresa May, who formally lost control to negotiate Brexit alternatives yesterday in UK parliament.  Theresa May is now expected to address Tory lawmakers at 1pmET tomorrow, where some are speculating that she will announce her resignation date.  GBPUSD is trading just shy of chart resistance at the 1.3240s this morning.  A move above will invite further buying to the 1.3290-1.3300 area in our opinion.

  • AUDUSD: The Aussie drifted higher in overnight trade and has now tested the upper bound of the near term range we talked about yesterday (0.7130).  We think the market stalls here as EURUSD is lacking momentum at this hour, but we’d be on the lookout for potentially volatility tonight at 9pmET when the Reserve Bank of New Zealand announces it latest decision on interest rates.  The AUD can at times correlate with significant movements in the NZD (its antipodean cousin).

  • USDJPY: The dollar/yen longs are fighting back this morning as the S&P futures and US bond yields drift higher.  Chart support in the 110.10s has been regained, and near term chart resistance in the 110.20-30s has been breached.  We think this opens up the possibility for further bounce up to 111.00 level.

Tune in @EBCTradeDesk for more real-time market coverage.


Market Analysis Charts

USD/CAD Daily Chart

USD/CAD Hourly Chart

May Crude Oil Daily Chart

EUR/USD Daily Chart

EUR/USD Hourly Chart

USD/CNH Daily Chart

GBP/USD Daily Chart

GBP/USD Hourly Chart

EUR/GBP Daily Chart

AUD/USD Daily Chart

AUD/USD Hourly Chart

May Copper Daily Chart

USD/JPY Daily Chart

USD/JPY Hourly Chart

June S&P 500 Daily

Charts: TWS Workspace

About the Author

Erik Bregar

Erik Bregar - Director, FX Trading

linkedin twitter

Erik works with corporations and institutions to help them better navigate the currency markets. His desk provides fast, transparent, and low cost trade execution; up to the minute fundamental and technical market analysis; custom strategy development; and post-trade services -- all in an effort to add value to your firm’s bottom line. Erik has been trading currencies professionally and independently for more than 12 years. Prior to leading the trading desk at EBC, Erik was in charge of managing the foreign exchange risk for one of Canada’s largest independent broker-dealers.

Interested in creating a custom foreign exchange trading plan? Contact Us or call CXI's trading desk directly at 1-833-572-8933.

About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 90 foreign currencies, multi-currency cash passports, traveler's cheques and gold bullion coins and bars. For financial institutions and corporations, our services include the exchange of foreign currencies, international wire transfers, global EFT, the purchase and sale of foreign bank drafts, international traveler's cheques, and foreign cheque clearing through the use of CXI's innovative CEIFX web-based FX software www.ceifx.com


Disclaimer: All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.



This publication has been prepared by Currency Exchange International for informational and marketing purposes only. Opinions, estimates and projections contained herein are our own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed reliable, but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which Currency Exchange International, its affiliates or any of their employees incur any responsibility. Neither Currency Exchange International nor its affiliates accept any liability whatsoever for any loss arising from any use of this information. This publication is not, and is not constructed as, an offer to sell or solicitation of any offer to buy any of the currencies referred to herein, nor shall this publication be construed as an opinion as to whether you should enter into any swap or trading strategy involving a swap or any other transaction. The general transaction, financial, educational and market information contained herein is not intended to be, and does not constitute, a recommendation of a swap or trading strategy involving a swap within the meaning of U.S. Commodity Futures Trading Commission Regulation 23.434 and Appendix A thereto. This material is not intended to be individually tailored to your needs or characteristics and should not be viewed as a "call to action" or suggestion that you enter into a swap or trading strategy involving a swap or any other transaction. You should note that the manner in which you implement any of the strategies set out in this publication may expose you to significant risk and you should carefully consider your ability to bear such risks through consultation with your own independent financial, legal, accounting, tax and other professional advisors. All Currency Exchange International products and services are subject to the terms of applicable agreements and local regulations. This publication and all information, opinions and conclusions contained in it are protected by copyright. This information may not be reproduced in whole or in part, or referred to in any manner whatsoever nor may the information, opinions and conclusions contained in it be referred to without the prior express written consent of Currency Exchange International.