XM does not provide services to residents of the United States of America.

XM does not provide services to residents of the United States of America.
U
U

USDCAD

Analysis

Analysis - 9 hours ago

Technical Analysis – USDCAD trades lower, tests key support

USDCAD is in the red today, a tad below 1.3977It is testing the support set by a short-term trendlineMomentum indicators are gradually turning bearishUSDCAD is edging lower today, trading a tad below the October 13, 2022 high at 1.3977. Profit-taking and this week’s stronger Canadian CPI have allowed CAD bulls to record a small correction from the four-year high of 1.4104. With the BoC expected to cut rates again in December, CAD bulls are desperately looking for any additional positive news t
U
Analysis - 3 days ago

Daily Comment – Stocks cautiously edge up amid geopolitical and inflation risks

Softer yields lift stocks despite Ukraine fears and rate cut doubtsGold extends rebound, oil also higher in choppy tradingDollar on the backfoot amid lack of direction as yen firmsStocks rebound but struggle for momentumEquity markets were in a perky mood on Tuesday as a recovery on Wall Street helped Asian stock markets advance, although European shares were more mixed.
G
U
U
U
E
A
G
U
T
O
Analysis - 1 week ago

Week Ahead – Flash PMIs, UK and Canadian CPI data enter the spotlight

Almighty dollar awaits PMIs for more signs of Fed cut delaysEurozone PMIs also on tap amid speculation of bigger cut by ECBPound could benefit from data pointing to rebound in inflationCanadian and Japanese CPI numbers also on the agendaTrump’s election raises bets for a Fed pauseThe US dollar continued flexing its muscles for another week, with the so-called ‘Trump trades’ showing no signs of cooling as the president-elect Republican party will control both chambers of the US Congress, wh
U
E
G
U
Analysis - 1 week ago

Technical Analysis – USDCAD: What’s next after a four-year high?

USDCAD snaps long-term range above 1.4000Bulls may take a breather; overall outlook remains bullishUSDCAD enjoyed a lovely session on Thursday, and it even found fresh buying interest to tick to a new four-year high of 1.4070 on Friday after a four-day nonstop rally.Technically, the pair broke through the trendline resistance zone around 1.4040, now acting as support, sparking renewed optimism that a new bullish cycle is underway.
U
Analysis - 1 week agoBullish

Technical Analysis – USDCAD at the highest since the pandemic

USDCAD resumes bullish outlook; advances to four-year highTechnical signals are positive but key resistance is nearbyUSDCAD shrugged off last week’s pause and shot up to 1.4019 for the first time since May 2020 after meeting its rising 20-day exponential moving average (SMA) within the 1.3800 zone.The technical indicators maintain positive moment
U
Analysis - 2 weeks agoBullish

Technical Analysis – USDCAD retains bullish bias above 20-day SMA

USDCAD posts new 25-month high but currently stands beneath itStochastics and RSI show positive signsUSDCAD has been developing above the 20-day simple moving average (SMA) since the bounce off the 1.3815 support level and is trying to regain ground.Daily oscillators suggest that the upside momentum is still in place, reflecting the pullback in the market.
U
Analysis - 3 weeks ago

Week Ahead – US election draws all eyes, Fed, RBA and BoE meet

Traders lock gaze on Tuesday’s US electionTrump and Harris battle neck and neck in final stretchFed to decide whether to cut interest ratesRBA and BoE decisions are also on next week’s agendaThe US dollar flexed its muscles lately on the back of upbeat data suggesting that there is no need for the Fed to deliver another bold 50bps rate cut at the remaining gatherings of the year, but also due to increasing market bets that Donald Trump will return to the White House.It’s US election time!T
U
E
A
G
N
U
Analysis - 3 weeks agoBullish

Technical Analysis – USDCAD rallies near 22-month peak

USDCAD in massive bullish run this monthMACD and RSI hold in overbought areasUSDCAD added more than 3% so far this month, posting an incredible bullish rally with no notable bearish waves. The price is currently approaching the previous 22-month high of 1.3947 with the next resistance taking place at 1.3975, achieved in October 2022. Steeper bullish run could take the market until the 1.4100 psychological level, registered in February 2016. But traders need to be cautious at the 1.4000 handle fi
U
Analysis - 4 weeks agoBullish

Technical Analysis – USDCAD still near the almost 3-month high

USDCAD adds 3.4% from 1.3420Remains well above the SMAsMACD and RSI indicate overbought levelsUSDCAD has been creating a notable bullish rally since the bounce off the 1.3420 support level, taking the price to an almost three-month high of 1.3868. The pair added 3.4% on this rally, trying to switch the medium-term outlook to positive.Technically, the RSI is moving horizontally near the 70 level, while the MACD oscillator is losing some momentum above its trigger and zero lines.
U
Analysis - 4 weeks ago

Daily Comment – Stocks under pressure amid US election jitters, dollar extends gains

Reduced Fed rate cut bets and growing odds of a Trump win push up yieldsWall Street slips; gold also takes a hit, but only temporarilyDollar climbs to 3-month high, yen and euro struggleWall Street headed for weekly lossesThe rally on Wall Street came to an abrupt end this week as uncertainty about the looming US presidential election as well as about the pace of Fed rate cuts undermined confidence in risk assets.
G
U
E
G
U
U
U
Analysis - 4 weeks ago

Quick Brief – BoC delivers rate cut, points to further easing

BoC cuts rates by 50bps, keeps door open to further movesMarket fully prices in a 25bps rate cut in DecemberLoonie remains under pressure against the dollarThe Bank of Canada confirmed market expectations by delivering a 50bps rate cut at today’s meeting. Despite certain market participants pointing to a smaller move on the back of decent jobs and growth figures, the recent weak inflation report and the bearish move in oil seem to have tipped the scale in favour of a more aggressive rate cut.T
U
Analysis - 4 weeks agoNeutral

Daily Comment – Dollar, gold and US yields continue to rise

Euro is under pressure again as ECB dovish commentary lingersGold makes a new all-time high despite the 10-year US yield riseUS equities trade with low conviction ahead of Tesla earningsBoC to announce another rate cut, loonie could sufferEuro remains on the back footThe euro is desperately trying to show some signs of life and recover against both the US dollar and the pound.
G
U
E
U
E
T
Analysis - 4 weeks agoNeutral

Technical Analysis – USDCAD needs a close above 1.3830

USDCAD prints fresh highs but has tough time closing above 1.3830Technical signals reflect fragile buying sentimentBoC rate decision due on Wednesday at 13:45 GMTUSDCAD reached a new high of 1.3848 on Monday, but it pulled back to end the day just below that crucial 1.3830 level, which aligns with the 78.6% Fibonacci retracement of the August-September downtrend.With the RSI hanging around the 70 overbought mark and the MACD hovering near its October 2023 highs, a significant rally in the short
U
Analysis - 4 weeks agoNeutral

Weekly Technical Outlook – USDCAD, EURUSD, GBPUSD

USDCAD rally may have more room to go as BoC rate decision awaitedEURUSD looks fragile following ECB’s meeting; flash PMIs next in focusGBPUSD is not out of the woods; flash PMIs could provide fresh direction BoC rate decision --> USDCAD  USDCAD is back in the 1.3800 territory and a short distance below October’s high of 1.3837 as investors expect the Bank of Canada (BoC) to slash interest rates by 50bps 3.75% on Wednesday.
E
G
U
Analysis - 1 month ago

Daily Comment – Gold and dollar edge up as markets bet on Trump win

US election risks move to the forefront as Trump narrows gap with HarrisGold begins week with new record as geopolitical tensions add to demandStocks mixed ahead of key earningsTrump trade makes a returnGold extended its record streak at the start of the new trading week as investors increasingly bet on Donald Trump winning the US presidential election on November 5. The precious metal climbed to all-time highs above $2,730/oz amid the growing risk of Trump returning to the White House.
G
U
B
E
G
U
T
A
U
T
Analysis - 1 month agoNeutral

BoC policy meeting: a rate cut and clues for the next one – Preview

BoC is expected to cut rates by 50 bps, the fourth one in a rowPolicymakers may give some hints about the December meetingLoonie looks strongly bearishDecision comes out on Wednesday at 13:45 GMTFall in inflation confirms the rate cutIt is widely expected that the Bank of Canada (BoC) will announce a substantial interest rate cut on Wednesday, particularly in light of the inflation data that was released the previous week.
U
Analysis - 1 month agoNeutral

Week Ahead – BoC to speed up rate cuts; flash PMIs eyed for growth clues

Bank of Canada meets; may opt for bigger 50-bps cutOctober flash PMIs to set the mood amid some growth concernsA relatively quiet week otherwise, with mostly second-tier releasesBoC to likely cut by half a pointExpectations that the Bank of Canada will cut rates by 50 basis points at its October meeting firmed up after the latest CPI data. Nevertheless, markets are not fully convinced of an outsized move, hence, there is a little bit of uncertainty heading into Wednesday’s decision by Canada��
U
E
A
G
U
Analysis - 1 month agoNeutral

Midweek Technical Look – EURJPY, USDCAD, Gold

EURJPY in a wait-and-see mode ahead of ECB's rate decisionUSDCAD looks overbought after fast rally to two-month highGold starts a new bullish wave. Will it hit a new record high?
G
U
E
Analysis - 1 month agoNeutral

Daily Comment – Stocks under pressure by chipmakers, pound slips on CPI drop

Chip stocks hit by selloff after ASML cuts 2025 guidanceDollar stretches gains as pound and kiwi fall on lower inflationOil steadier amid ongoing ME drama, gold heads towards fresh recordChip and AI stocks take a diveEquity markets suffered a setback on Tuesday after Dutch semiconductor giant, ASML, sparked panic about the demand outlook for chips when it accidentally published its earnings report a day early.
G
U
E
G
N
U
N
O
U
A
Analysis - 1 month agoNeutral

Quick Brief – Canadian CPI opens the door for 50 bps rate cut by BoC

Canadian CPI falls to 1.6% y/yBoC is expected to cut rates by 50 bpsLoonie loses significant groundCanada's annual inflation rate decreased to 1.6% in September, down from 2% in the previous month, the lowest since February 2021 and below the market consensus of 1.8%. It was the second consecutive period in which CPI inflation fell on or below the Bank of Canada's target of 2%, endorsing expectations that policymakers will cut rates by 50 bps during the next policy meeting. Infla
U

Conditions

Popular Assets

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.