USDCAD

US Open Preview– Eurozone data push euro and stocks higher; ADP employment report in focus

Posted on January 4, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: Upbeat data on December’s composite PMI for the Eurozone published on Thursday lifted euro/dollar towards 1.2052 (+0.32%), reversing most of yesterday’s losses as the figures suggested a faster Q4 growth for the region. Pound/dollar also gained from better-than-expected survey data, rising to 1.3554 (+0.24%). The dollar, on the other hand, was in the backfoot against six major currencies at 91.95 (-0.23%) unable to gain further from Wednesday’s economic numbers and Fed meeting [..]

European Open Preview – Greenback regains some composure while US stock indices close at records; US ADP employment due

Posted on January 4, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of major currencies during the Asian trading session Thursday, after posting gains on Wednesday. STOCKS: All three major US equity indices (Dow Jones, S&P 500, Nasdaq Composite) closed at fresh record highs yesterday, buoyed by optimism around the US economy following strong data releases and a cheerful tone in the FOMC minutes. Futures tracking the Dow, S&P and Nasdaq 100 are currently [..]

Technical Analysis – USDCAD holds slightly above its 14-week low at 1.2500

Posted on January 3, 2018 at 1:31 pm GMT

USDCAD had a strong sell-off in the previous days following the downward retracement of the 1.2915 resistance level. The pair plunged to a new 14-week low near the 1.2500 strong psychological level during Tuesday’s session. It’s losing some downside momentum in oversold conditions in the 4-hour chart on the RSI and MACD indicators, but intraday bias remains bearish as long as the 1.2588 minor resistance holds. Moreover, the 100-simple moving average is ready to post a bearish crossover with the 50-SMA indicating for further losses in the [..]

US Open Preview – Euro loses ground but remains above $1.20; FOMC minutes awaited

Posted on January 3, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The dollar posted some gains to climb further above a 3½-month low versus a basket of currencies hit on Tuesday. The euro eased versus the greenback despite the release of positive jobs data out of Germany, while pound/dollar lost some ground following the release of construction PMI figures that came in below analysts’ expectations; the pair previously crossed above the 1.36 handle to record its highest since late September. STOCKS: European [..]

European Open Preview – Dollar slightly above 3½-month lows ahead of Fed minutes; sterling flirts with $1.36

Posted on January 3, 2018 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies after yesterday reaching its lowest since late September. The euro retreated a bit versus the dollar after trading around three-year high levels on Tuesday. STOCKS: Hong Kong’s Hang Seng was 0.1% higher, trading at its highest in a decade. Other major Asian indices were in the green, while Japanese markets were closed for a holiday. Euro Stoxx 50 futures were up [..]

European Open Preview– Dollar continues to tumble as commodities extend gains; Manufacturing PMIs in focus

Posted on January 2, 2018 at 8:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded lower against a basket of major currencies, with the dollar index touching a 3-month low. STOCKS: Asian markets started the year on a strong footing, with Hong Kong’s Hang Seng being up nearly 1.9%, while China’s CSI 300 was 1.40% higher, possibly boosted by the better-than-expected Chinese Caixin manufacturing PMI for December released earlier. In Japan, equity markets (Nikkei 225, Topix) will remain closed until Thursday. At 0732 [..]

US Open Preview– Dollar index tumbles to 3-month low; FTSE at fresh record highs

Posted on December 29, 2017 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The dollar index stretched its downtrend toward a fresh three-month low of 92.34 (-0.26%) as investors stood less confident on the outlook of the US economy, while gains in the euro and the pound pressured the index even further. Euro/dollar hit a three-month high of 1.1986 (+0.33%) and pound/dollar (+0.41%) surged to a three-week high of 1.3511. The kiwi, the aussie and the loonie drifted higher relative to the greenback to levels last seen in October. STOCKS: [..]

Special Report – Canadian dollar: As good as it gets?

Posted on December 29, 2017 at 10:02 am GMT

The Canadian currency outperformed most of its major peers in 2017. Whether that will continue or reverse in 2018 is likely to depend on monetary policy, the evolution of oil prices, and developments in the NAFTA negotiations. With the market having already priced in a significant degree of monetary tightening, and with oil prices likely to struggle to advance much further from current levels, the loonie may require a fresh positive catalyst to draw support from in order to continue [..]

European Open Preview – Dollar hits fresh one-month low; oil rises to highest since mid-2015

Posted on December 29, 2017 at 8:33 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded marginally lower against a basket of major currencies, touching its lowest level since late November. STOCKS: Japan’s Nikkei 225 closed lower, albeit by less than 0.1%, while Hong Kong’s Hang Seng was up by nearly 0.3%. Futures tracking the Euro Stoxx 50 were up 0.2%, while those tracking the Dow Jones, S&P 500 and Nasdaq were all higher by roughly 0.1%. The Dow yesterday finished at an all-time [..]

Week Ahead – Beleaguered dollar eyes first US jobs report of 2018; December PMIs in focus

Posted on December 28, 2017 at 4:32 pm GMT

Markets will begin to get back to normal in the first week of 2018 following the Christmas and New Year breaks. PMI surveys will dominate the economic calendar, but traders will likely be most looking forward to the US nonfarm payrolls report to inject much needed life into the lacklustre US dollar. The coming week will start a little early, on Sunday, as China releases the official manufacturing and non-manufacturing PMIs. The manufacturing PMI is forecast to ease slightly to [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms