Aud/Cad

[babar8487]

The late U.S stock rally left intact other aspects of he bearish market trend that has developed of late, with a weaker U.S dollar and lower oil prices, along with stronger demand for safe-haven government bonds, gold and the Japanese yen.

[babar8487]

The S AND P 500 gained 21.13 points, or 0.86 percents, to 2,488.83 and the Nasdaq Composite added 25.14 points, , or 0.38 percent, to 6,579.49.

MSCI's gauge of stocks across the globe gained 0.58 percent, rising further from near two-year lows hit earlier this week.

[babar8487]

Some traders also cited investors closing out short positions among the reasons for wall street's late rally.
The Dow Jones industrial average rose 260.37 points, or 1.14 percent, to close at 23,138.82,

[babar8487]

Meanwhile, there is no end in sight to the U.S - China trade war or the partial shutdown of the U.S government.
Investors often sell assets that have done well and buy those that have done the worst, including many stocks, at the end of the quarter to "re balance" their portfolios.

[babar8487]

But other news was dismal, including the Conference Board's consumer confidence index dropping to a five-month low in December and earnings at China's industrial firms falling in November for the first time in nearly three years.

[babar8487]

"It really is not about fundamentals. There is nothing in the fundamental picture of the U.S economy that would justify the kind of moves that we've seen."
A report early in the day showed the number of Americans filing applications for jobless benefits fel marginally last week in a sign of labor market strength.

[babar8487]

For the second consecutive session, early weakness in markets turned to strength by time U.S stocks closed as investors shuffled their portfolios.
"We has very wild ride today," said David Kelly, chief global strategist for JP Morgan Chase & co's asset management unit,on a conference call.

[sowati]

today technical analysis of AUD/CAD is below.


Resistance lever one is. 0.96139
Resistance lever two is. 0.96144
Resistance lever three is. 0.96151


Support lever one is . 0.96128
Support lever two is. 0.96121
Support lever three is. 0.96115

[babar8487]

That has led to the European Central Bank maintaining ultra-low interest rates. The euro is on track for a loss of 4.5 percent versus the greenback this year.
A wild Christmas week ride in global markets continued on Thursday as stock rallied from significant losses to post gains for the day.

[babar8487]

said Kathy Lien, managing director of currency strategy at BK Asset Management in a note.
The euro gained 0.2 percent , fetching $1.1452. But the single currency has struggled this year due to weak euro zone data, low inflation and political risks.