USDCAD

US Open Preview – Swedish krona gains following central bank meeting; kiwi eyed ahead of GDP data

Posted on December 20, 2017 at 11:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar was not much changed versus other major currencies as trading is getting thinner ahead of the Christmas holidays and as the House of Representatives is anticipated to cast a final vote in favor of tax reforms later in the day. STOCKS: European equities were heading lower, though losses were limited for the most part. At 1120 GMT, the pan-European Stoxx 600 was down by 0.2% and the blue-chip Euro [..]

Week Ahead – BoJ meets amid normalization talk; US tax vote the main focal point

Posted on December 15, 2017 at 4:25 pm GMT

Central bank activity will continue next week with policy meetings of the Bank of Japan and Sweden’s Riksbank. It will be a relatively quieter one though for economic indicators, except in the United States, which will see several big data releases, including personal consumption expenditure figures, housing numbers and durable goods. But happenings in Capitol Hill could once again attract more attention as Congress votes on the final version of the tax bill. No change expected from Bank of Japan [..]

US Open Preview– Brexit clock ticks down but pound steady; H&M drags stocks

Posted on December 15, 2017 at 11:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar continued to trade near yesterday’s lows versus its major peers as tax risks kept weighing on the currency after another US Senate Republican warned to give a “no-vote” on the promised tax cuts. Dollar/yen was weaker at 112.18 (-0.18%). Euro/dollar posted moderate gains, rising marginally above the 1.1800 key-level (+0.20%) as yesterday’s dovish ECB signals on eurozone’s inflation restricted larger gains. The pound was steady at $1.3418, while the kiwi remained the best performer, [..]

Technical Analysis – USDCAD remains neutral in medium-term; near-term risk is to the downside

Posted on December 15, 2017 at 7:17 am GMT

USDCAD remains neutral as it continues to trade in a range from late October. Near-term risk is tilted to the downside. The retracement of the longer-term downtrend from 1.3793 to 1.2061 has not reversed yet. However, the market is capped at the 200-day moving average. The bounce off the more than a 2-year low from 1.2061 in September to October has moved into a consolidation phase between two key Fibonacci retracement levels of the 1.3793 to 1.2061 downleg. The 38.2% [..]

Week Ahead – Fed to raise rates in busy week for central banks; EU summit decides on Brexit

Posted on December 8, 2017 at 3:41 pm GMT

Numerous central banks are scheduled to meet to set monetary policy next week. This includes the Federal Reserve, probably the world’s most closely watched central bank. It is also the one expected to make a move in the direction of policy normalization. Beyond this, major economies will see the release of important data, the UK being one of them with releases on inflation, wage growth and retail sales being eagerly awaited. In politics, the US tax story and the EU’s [..]

European Open Preview – Eyes on US jobs report and Brexit developments; Asian equities rally

Posted on December 8, 2017 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar rallied overnight against its counterparts on news that US lawmakers agreed to temporarily extend the government spending bill, a day before the deadline on Friday. The pound was on track to post a second day of gains as concerns over a hard-Brexit calmed after the UK and the EU appeared to be reaching a preliminary deal on key elements of the divorce. On the other hand, the euro was heading [..]

US Open Preview – Dollar gains on tax reforms momentum; stocks climb on tech recovery

Posted on December 7, 2017 at 12:29 pm GMT

Here are the latest developments in global markets: Forex: The dollar index moved higher to a fresh two-week high of 93.73 (+0.13%) as a layer of uncertainty was removed after the US Senate Republicans and the House of Representatives agreed yesterday to continue talks on tax reforms. However, risks remain on the side of the government budget which expires on Friday midnight. Dollar/yen was last seen at 112.70 (+0.37%), dollar/swissie was trading at a two-week high of 0.9922, while dollar/loonie [..]

US Open Preview – Dollar gains as tax reforms wave on the horizon; stocks climb on tech recovery

Posted on December 7, 2017 at 12:13 pm GMT

European Open Preview – Dollar at 2-week highs; Nikkei rebounds

Posted on December 7, 2017 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar hit a two-week high against a basket of currencies as optimism on US tax reform continued to support the currency, though concerns over a possible government shutdown restricted steeper upside movement. The euro and the pound were on track to post the third day of consecutive losses versus the greenback, while the loonie tumbled to a one-week low after the BOC expressed caution for further rate hikes. The aussie [..]

US Open Preview – Brexit bears lead pound; stocks continue declining; BOC rate decision pending

Posted on December 6, 2017 at 12:27 pm GMT

Here are the latest developments in global markets: Forex: Sterling stretched toward a fresh one-week low of 1.3360 (-0.61%) as fears over a potential impasse in Brexit talks, which could postpone negotiations until February and therefore scale back business investments, lingered in the background. The dollar steadied versus the yen near one-week lows as concerns over a government shutdown offset positive sentiment related to the delivery of tax reforms. The euro was trading flat against the greenback at 1.1824, while versus sterling it managed to [..]

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