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Cross-border investment activity strengthened in March, as conditions on global financial markets appeared to be stabilizing. Canadian investors acquired $6.2 billion of foreign securities, led by the continued strong demand for foreign equities so far in 2009. Investment in foreign long-term debt instruments resumed, following several months of net sales.

According to Statistics Canada, wholesale sales declined 0.6% to $40.5 billion in current dollars in March. Declining sales in the building materials and machinery and electronic equipment sectors were important factors contributing to this decrease. In terms of the volume of sales, wholesale sales were down 1.3%.

The number of new claims for unemployment benefits for the week ending May 16 decreased by 12,000 to 631,000, the Labor Department said today. Economists had expected to see 630,000 new claims. The four-week moving average, which aims to smooth volatility in the data, decreased to 628,500 from 632,000 a…

Cable fell sharply post bad Business Investment numbers that shows the markets might be being too optimistic of the revival happening soon. Business Investment has fallen -5.5% q/q as against an expectation of -4.0%. It spiked below the 200-DMA at 1.5540 and has since then bounced towards 1.5690. Till the…

Dollar was under strong pressure yesterday against all basic currencies, due to the rise in the stock markets and commodities. Our first targets at 1,3830 are reached after yesterday’s tops. Next important technical resistance level emerges at the wider area of 1,3900, as the upper part of the basic upward…

The selloff from 1.6828 (10 Nov 2007) is developing into a diagonal triangle with 1:1.6828-1.5340; 2:1.6347 (17 Mar 2008); 3:1.4300; 4: 1.5880 and the last of 5 is under way and would bring weakness to 1.4910 (62% Fibonacci retracement of 1.4577-1.5448), break would encourage for re-test of 1.4577 (6 Mar…

Cable hit our Fibonacci target zone at 1.5720-1.5800 very quickly. The wave count is now signaling for a near-term turning point from the current area, as we can already count a five blue sub-waves in black wave V), which completed the whole red wave C leg. There will definitely need…

Sterling tumbles sharply in European session on news that S&P has lowered outlook of UK from “stable” to “negative” as the governement “debt burden” could appraoch 100% of GDP and “remain near that level” in medium term. Markes are concernred that UK’s AAA rating could be cut by S&P for…

After continuous pressure from the 96.55 resistance level, yesterday Dollar/Yen fell, reaching the 94.69 bottom. Short term signals remain descending for now, but we may witnesses an upward correction first towards 95.65, before returning back downwards toward the nearest support level 93.60, followed by 92.40. Today’s trading range is between…

Intraday outlook remains neutral for the moment as sideway consolidation continues. But after all, as EUR/JPY is still supported by medium term trend line from 112.10, rise from there should still be in progress. Above 131.83 will target 134.82 first. Break will be another indication that medium term rebound is…