Earlier today, data showed that Canadian trade deficit narrowed to C$0.98 billion in February from C$1.48 billion in January, beating analysts’ expectations. In response to these positive numbers Canadian dollar increased against the greenback, which approached USD/CAD to the long-term support line. Will we see a breakdown in the coming days?

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Earlier today, the Markit’s report showed that its manufacturing PMI climbed to a 10-month high of 52.2 in March, while factory input prices rose for the first time in seven months and selling prices were broadly stable. In response to this positive news EUR/USD bounced off session’s lows, but did this increase change anything in the short-term picture of the exchange rate?

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Although today’s data showed that new home sales rose 1.1% in February in Australia, the numbers disappointed market participants as they saw a 1.8% increase the previous month. Additionally, yesterday’s solid data from the U.S. economy continued to support the greenback, which together pushed AUD/USD below its last support line before Mar lows. Double bottom or fresh 2015 lows?

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Earlier today, the U.S. Commerce Department showed that personal spending increased by 0.1% in the previous month, while personal income rose 0.4% in February, beating expectations for a 0.3% gain. Thanks to these positive numbers, the USD Index climbed above 98, approaching the last week’s high. How did this increase affect the short-term pictures of our six currency pairs?

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The lack of major U.S. data later in the day in combination with the Federal Reserve's latest policy statement, which showed that interest rates will rise at a slower pace than market participants’ forecast, weighs on investors’ sentiment. As a result, the USD Index, which tracks the performance of the greenback against the basket of major currencies, extended losses and slipped below 99, erasing over 50% of yesterday’s rebound. How the recent price action in the index affected the short-term pictures of our six currency pairs?

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