USDCAD

European Open Preview – Euro jumps on ECB minutes; US CPI & retail sales on the horizon

Posted on January 12, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded marginally lower on Friday, extending the notable losses it posted on Thursday on the back of weaker-than-expected US producer price data and a stronger euro. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix indices traded lower by 0.2% and 0.6% respectively, but Hong Kong’s Hang Seng index climbed 0.8%, trading at its highest since late 2007. In Europe, futures tracking the Euro Stoxx 50 were 0.3% up. [..]

Technical Analysis – USDCAD tests key 1.25 level; neutral in short-term

Posted on January 12, 2018 at 7:13 am GMT

USDCAD remains weak following a drop below the key 1.2700 level and out of a 2-month range. In the near-term, the pair has a firmer undertone after making a recovery off 3-month lows and is now testing 1.2500 which is seen as a strong support level. The odds for a sustained rebound are low at the moment. RSI is still in bearish territory below 50 and USDCAD is capped by the 100-day moving average at 1.2590. The recovery back above [..]

US Open Preview – Excluding antipodeans, greenback remains in the green; US jobless claims & producer prices in focus

Posted on January 11, 2018 at 12:19 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained in the green relative to most majors though it – for the most part – gave up on a portion of gains made earlier in the day. The dollar index traded 0.1% higher at 92.45. The antipodean currencies were the ones advancing notably relative to the greenback, tracking fresh multiweek highs versus the US currency. Aussie/dollar was 0.3% up, after previously touching 0.7886, a level last reached [..]

European Open Preview – Dollar trips on China-related reports but recovers; eurozone IP and ECB minutes eyed

Posted on January 11, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher during the Asian trading session Thursday, after experiencing heightened volatility on Wednesday. The index initially took a dive on reports that China is considering to slow or cut its US bond purchases, but managed to recover its losses to trade virtually unchanged in the following hours. STOCKS: Asian markets were mostly in the red today, with Japan’s Nikkei 225 and Topix indices closing 0.3% and [..]

Technical Analysis – USDCAD drops to 3-month low; eases after strong sell-off

Posted on January 8, 2018 at 11:09 am GMT

USDCAD plummeted almost 1% in the previous two trading days and this weakness has taken the price to a fresh three-month low of 1.2354. The pair has seen a strong sell-off since the aggressive bearish run started on December 19. In the daily timeframe, significant obstacles have been broken, such as the consolidation area of 1.2590 – 1.2915, the 38.2% and 50.0% Fibonacci retracement levels of the last big up-leg with the low at 1.2060 and the high at 1.2915, as well as the 1.2450 barrier, which was acting [..]

European Open Preview – Dollar recovers following decline caused by NFP; eurozone retail sales due

Posted on January 8, 2018 at 8:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded 0.2% higher during the Asian trading session Monday, recovering the losses it posted on Friday following the slightly softer-than-anticipated US employment report. STOCKS: In Asia, Hong Kong’s Hang Seng was up 0.2% while China’s CSI 300 was 0.5% higher. Meanwhile, Japanese equity markets remained closed today for the Coming of Age holiday. In Europe, futures tracking the Euro Stoxx 50 are currently up by 0.4%. The three major [..]

Week Ahead – US inflation & retail sales and Chinese trade numbers among next week’s highlights

Posted on January 5, 2018 at 1:56 pm GMT

The coming week will feature numerous important releases that definitely have the potential to lead to notable movements in forex markets, though it will lack a release of the magnitude of the US nonfarm payrolls report that hit markets during this past week. Among the highlights in the coming days will be Chinese trade data, eurozone unemployment figures, UK manufacturing output and US inflation and retail sales. Quiet week in Australia with building approvals and retail sales gathering attention The [..]

US Open Preview – Dollar stronger ahead of NFP report; European stocks drift higher

Posted on January 5, 2018 at 12:22 pm GMT

Here are the latest developments in global markets: FOREX: December’s preliminary inflation figures out of the Eurozone offered little to the euro as the price measures came in line with expectations on a yearly basis and slightly weaker relative to the month before. However, the region’s producer prices surprised to the upside, providing some support to the common currency, which consolidated near four-week highs versus the greenback. Euro/dollar parked at 1.2048 (-0.16%), while euro/yen climbed to a two-year high of 136.51 (+0.30%). Pound/dollar reversed gains from earlier in the day, retreating to 1.3540, with investors looking [..]

European Open Preview – Dollar subdued as US equities hit new highs; US jobs report dominates attention

Posted on January 5, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.1% higher during the Asian trading session Friday, after posting notable losses on Thursday. STOCKS: The three major US equity indices – Dow Jones, S&P 500, and Nasdaq Composite – closed at fresh records again yesterday, with the Dow finishing above the 25,000 milestone for the first time. Futures tracking the Dow, S&P, and Nasdaq 100 are currently in the green as well. This positive sentiment rolled over [..]

Technical Analysis – USDCAD turns more bearish after falling out of 2-month range

Posted on January 5, 2018 at 7:22 am GMT

USDCAD is looking weak after falling out of a 2-month range. Prices broke below key support at 1.2500 although appear to have stabilized for now just below this level. The daily RSI is in bearish territory but has turned neutral in the short term, very close to oversold levels. Looking at the bigger picture, USDCAD was trading in a range between 1.2680 and 1.2900 from late October to late December. Strong resistance was found at the Fibonacci retracement level at [..]

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