USDCAD

Week Ahead – All eyes on BoJ and ECB; First glimpse of UK and US Q4 GDP

Posted on January 19, 2018 at 3:48 pm GMT

The Bank of Japan and the European Central Bank will follow in the footsteps of the Bank of Canada to hold their first policy meetings of 2018 in the next seven days. With speculative trade on the timing of the eventual stimulus withdrawal by both central banks driving the euro and the yen higher over the past couple of weeks, markets will be ultra-sensitive to the language spoken by policymakers. Economic data will also be at the forefront next week [..]

European Open Preview – Dollar retreats again while oil pulls back from highs; UK retail sales in focus

Posted on January 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was marginally lower on Friday, after also trading lower yesterday, even though yields on longer-term US Treasuries were on the rise. STOCKS: Asian markets were in a sea of green today. Japan’s Nikkei 225 and Topix indices were up by 0.2% and 0.7% respectively, both hovering near multi-decade highs. In Hong Kong, the Hang Seng index was up 0.1% – touching its highest on record – while in [..]

Technical Analysis – USDCAD remains neutral after failing to regain 1.25 handle

Posted on January 19, 2018 at 7:15 am GMT

USDCAD remains neutral on the daily chart, pivoting around the key 1.2500 level since the start of January. The pair has been unable to sustain gains after a break of this level last week and consequently, the market has been stuck in a multi-week range roughly between 1.2350 and 1.2600. Technical indicators that were strongly bearish are now turning neutral, suggesting that downside momentum is fading at least in the near term. The 50, 100 and 200-day moving averages are [..]

European Open Preview – Loonie undecided after rate hike while dollar rebounds

Posted on January 18, 2018 at 8:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index continued to recover on Thursday, trading nearly 0.4% higher and extending the gains it posted on Wednesday on the back of rising US treasury yields. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix indices fell by 0.4% and 0.7% respectively, while Hong Kong’s Hang Seng index was up 0.4%. In Europe, futures tracking the Euro Stoxx 50 are in positive territory, suggesting the index could open higher. Over [..]

US Open Preview – Dollar remains in green; Bank of Canada decision the session’s highlight

Posted on January 17, 2018 at 12:23 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained in the green versus a basket of currencies, while it is of note it managed to rebound after touching its lowest since December 2014 earlier on Wednesday. The dollar index was last up by 0.35% at 90.70. STOCKS: Most European bourses were in the red around midday on the back of updates on earnings that, for the most part, disappointed investors. The pan-European Stoxx 600 was marginally [..]

European Open Preview – Euro retreats after breaking above $1.23; Bank of Canada eyed

Posted on January 17, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar – as gauged relative to six other currencies – is on the rise after recording its lowest since late 2014 earlier on Wednesday. The euro retreated after climbing above $1.23. STOCKS: The Japanese Nikkei 225 and Topix indices lost 0.35% and 0.2% respectively after yesterday tracking multidecade highs. Hong Kong’s Hang Seng was little changed at decade high levels. Euro Stoxx 50 futures traded lower by 0.3% at 0727 [..]

Bank of Canada said to deliver a rate hike but risks hang – Forex News Preview

Posted on January 16, 2018 at 4:57 pm GMT

Just two weeks after the start of the new year, the Bank of Canada will be the first in line to decide on monetary policy and as forecasts suggest the central bank will likely go with another rate hike. Some could say, though, that now is not the best time for Canada to welcome higher rates given the complicated situation of the NAFTA talks and the country’s overloaded household debt. But this is not the big question. Instead, investors wonder [..]

European Open Preview – Dollar in recovery mode; UK inflation in the spotlight

Posted on January 16, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar managed to recover a part of the previous days’ losses against a basket of currencies that saw it eventually fall to a three-year low during Monday’s trading. STOCKS: The Japanese Nikkei 225 and Topix indices added 1.0% and 0.55% to close at their highest since 1991. Hong Kong’s Hang Seng was up by 1.3%, trading at decade-high levels. Euro Stoxx 50 futures were flat at 0731 GMT, with Dow, [..]

European Open Preview – Dollar remains on defensive; euro exceeds $1.22 on ECB tightening expectations

Posted on January 15, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The US currency was on its fourth straight day of declines, with the dollar index falling to its lowest in three years as other majors were boosted on hopes of policy normalization on behalf of their respective central banks. The Chinese currency recorded a two-year high versus the greenback as the PBOC altered its rate fixing to the dollar. STOCKS: The Japanese Nikkei 225 closed 0.3% higher even as the yen [..]

Week Ahead – Bank of Canada ponders raising rates again; Aussie eyes jobs data and China GDP

Posted on January 12, 2018 at 5:08 pm GMT

The Canadian and Australian dollars will be in focus next week as the Bank of Canada holds its first monetary policy meeting of the year, while Australian employment and Chinese growth figures will test the aussie’s recent bull run. Other highlights will include inflation data out of the UK and the Eurozone. But the US will see a quieter week in terms of economic releases. China’s economy likely slowed in Q4 China will be the first major economy to report [..]

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