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USDCAD TECHS

Watching The 50-Day EMA

AUDUSD TECHS

Bearish Focus

MONTH-END EXTENSIONS

Updated Barclays/Bbg Extension Estimates for US

US TSYS

Late Session Selling

FOREX
FOREX: Commodity currency pairs reverse European morning losses with added
support from firmer oil prices. Aud/Usd touched recovery highs of $0.7775, there
is a flurry of resistance ahead through $0.7790-0.7820 ($0.7796
100-dma/$0.7810/12 Apr13 high/61.8% $0.7917-0.7643). Usd/Cad eased to C$1.2556
before stalling ahead of support from the Asia low (C$1.2549). Main focus turns
to the BoC rate decision at the top of the hour, although no change is expected
in rates focus will be on the language going forward. RBC analysts think the BoC
will opt for a hawkish hold as opposed to the dovish hike in January, with
market pricing 50% for a move in May.