USDCAD

US Open Preview – Dollar pressured ahead of Fed rate decision; European stocks rebound

Posted on January 31, 2018 at 12:38 pm GMT

Here are the latest developments in global markets: FOREX: Kiwi/dollar remained the biggest winner in early European trading, approaching fresh one-week highs at 0.7400 (+0.94%), while aussie/dollar reached an intra-day high at 0.8109. Dollar/yen inched up to 108.76 but was unable to recover earlier losses despite the BOJ increasing its medium-term Japanese government bonds. Trump’s State of Union speech also failed to feed dollar bulls, giving few details on US policies. The dollar index was moving sideways around three-year lows [..]

European Open Preview – Dollar on the defensive ahead of FOMC; eurozone inflation on the horizon

Posted on January 31, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued to retreat on Wednesday, trading 0.2% lower ahead of the FOMC policy decision later in the day. STOCKS: Japanese markets were on the defensive, with the Nikkei 225 and the Topix indices falling 0.8% and 1.2% respectively, as the recent surge in bond yields continued to undermine investors’ sentiment towards equities. This was also evident by the underperformance of US indices yesterday, with the S&P 500, Dow Jones [..]

European Open Preview – Yen gains on Kuroda’s comments; US consumption and PCE data due

Posted on January 29, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded marginally higher on Monday, recouping some of the losses it posted on Friday. Meanwhile, the yen remained relatively elevated after shooting up on Friday, following some remarks from BoJ Governor Kuroda. STOCKS: Asian markets were mixed. In Japan, the Nikkei 225 closed marginally lower, while the Topix was less than 0.1% higher. In Hong Kong, the Hang Seng declined 0.3%, though the index still lies very close to all-time high [..]

US Open Preview: Dollar surrenders Trump-related gains ahead of key data and speeches

Posted on January 26, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: The dollar has remained on the back foot, with the dollar index being almost 0.6% lower, giving back nearly all the gains it posted yesterday following President Trump’s comments. The biggest beneficiaries of the greenback’s weakness were the Swiss franc and the British pound, both trading 0.8% higher against the USD. The Australian dollar followed closely, with aussie/dollar up 0.7%. Dollar/loonie was down more than 0.5%, weighed on by a weaker greenback [..]

Technical Analysis – USDCAD has more room to fall; struggles below 61.8% Fibonacci level

Posted on January 26, 2018 at 7:27 am GMT

USDCAD has been underperforming over the last sessions, breaking back below the 61.8% Fibonacci retracement level around 1.2385 of the up-leg with the low of 1.2060 and the high of 1.2915. When looking at the bigger picture the pair holds the bearish structure and has been trading lower on the back of US dollar weakness. Short-term momentum indicators are also pointing to a continuation of the bearish bias. The RSI indicator stands in the negative territory and is pointing south, [..]

US Open Preview– Euro stalls ahead of ECB policy meeting; oil hits fresh 3-year highs

Posted on January 25, 2018 at 12:38 pm GMT

Here are the latest developments in global markets: FOREX: The dollar stalled its downtrend near today’s 4 ½ -month lows versus the yen, last seen at 108.97 (-0.16%), and remained flat close to 3-year lows of 89.06 against a basket of currencies as traders continued to digest the comments made by the US Treasury Secretary who said that a weaker dollar is more attractive for trade purposes. Pound/dollar slipped to 1.4252 (+0.08%) during early European trading hours after breaking 1.4327 – [..]

Canadian retail sales and inflation data likely market movers for loonie – Forex News Preview

Posted on January 24, 2018 at 3:30 pm GMT

Canadian retail sales for the month of November are due on Thursday at 1330 GMT. The pace of growth in sales is forecast to slow down after comfortably beating expectations in October. Should another beat be delivered – maintaining positive momentum – then the loonie is expected to receive a boost. On Friday, Canada will also see the release of inflation figures for the month of December. Retail sales are anticipated to expand by 0.7% m/m in November. This compares [..]

European Open Preview – Dollar losing streak continues; UK employment and wage growth data due

Posted on January 24, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded nearly 0.2% lower on Wednesday, extending the losses it posted yesterday amid concerns of a potential escalation in trade tensions with China. STOCKS: Japanese equities corrected lower, with the Nikkei 225 and the Topix indices closing down by 0.8% and 0.5% respectively, as the latest surge in the yen took its toll on the nation’s markets. That said, both indices still stand near their corresponding 27-year highs. In [..]

US Open Preview– Dollar pressured as government shutdown weighs; European stocks flat

Posted on January 22, 2018 at 12:43 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained under pressure against its major counterparts during the European afternoon as the government shutdown on Friday limited any buying interest for the currency, driving the dollar index down to 90.43 (-0.13%). Dollar/yen edged down to 110.68 after attempting to break above the 111 key-level, with the focus being on the BOJ’s policy decision on Tuesday. Euro/dollar reversed earlier losses, rising to 1.2253 (+0.27%) as political concerns in Germany faded, while pound/dollar managed to crawl back to [..]

European Open Preview – Markets largely unfazed by US government shutdown; German politics in focus

Posted on January 22, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index opened with a small negative gap on Monday after news that the US government shut down on Friday, but managed to recover its losses to trade marginally higher in the following hours. STOCKS: Japanese markets were in the green today, albeit not by much. The Nikkei 225 and the Topix indices closed up by 0.03% and 0.1% respectively. In Hong Kong, the Hang Seng is 0.4% higher, rising to a [..]

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