USDCAD

Forex Market Review (Asian Session) – Dollar continues to strengthen; euro steady; commodities pressured

Posted on July 10, 2017 at 7:51 am GMT

As the Asian markets were coming to a close, the dollar continued gaining against the yen following a strong boost on Friday. In the meantime, the yen was also weakened by soft data releases, reaching a near two-month low against the dollar. The euro was steady against the dollar while the pound gained ground, to ease some of the Friday’s weakness. The dollar continued building on Friday’s gains against the yen during today’s Asian session. Today’s speech by Bank of [..]

Week Ahead – Bank of Canada could hike rates; US data and Yellen testimony eyed

Posted on July 7, 2017 at 3:31 pm GMT

The Bank of Canada could become the first major central bank other than the Federal Reserve to raise rates next week for the first time since at least 2015. The only other important central bank event next week is Fed Chair Janet Yellen’s testimony in Congress. In terms of data, the US will dominate again with key releases that will include CPI and retail sales figures. China will also publish inflation data, while in the UK, the labour market report [..]

Forex Market Review (European Session) – Dollar makes comeback on NFP gain; sterling slips on weak UK manufacturing

Posted on July 7, 2017 at 2:30 pm GMT

There was a great amount of important economic data releases today. In the US, the key focus was on the non-farm payrolls jobs report, while the unemployment rate and average earnings growth were also of significant interest. Disappointing UK industrial and manufacturing production for May have been dictating sterling movements during the European trading session. The much-anticipated jobs report today showed a gain of 222,000 jobs in the US economy for June, which followed a revised 152,000 expansion in May [..]

FX Daily Outlook | 07-07-17

Posted on July 7, 2017 at 8:44 am GMT

[..]

Technical Analysis – USDCAD pauses downtrend after RSI reaches oversold levels

Posted on July 7, 2017 at 7:09 am GMT

USDCAD has been in a downtrend since the May 5 high of 1.3792. After falling from this more than one-year high, the pair touched a low of 1.2911 on July 4 and made a slight correction higher. However, prices are finding it difficult to enter back into the key 1.3000 handle. The bearish market structure remains intact and there are no signs of a reversal in the trend yet. USDCAD is trading below the 200-day moving average, which asserts a bearish view. [..]

FX Daily Outlook | 03-07-17

Posted on July 3, 2017 at 9:08 am GMT

[..]

Forex Market Review (Asian Session) – Dollar modestly up; euro falls below 1.14

Posted on July 3, 2017 at 7:49 am GMT

Today’s Asian session saw the dollar broadly advancing relative to other majors, though its gains were limited in nature. China’s Caixin manufacturing PMI positively surprised, pushing the yuan higher, while a negative backdrop could potentially form for the yen after Prime Minister Shinzo Abe’s Liberal Democratic Party lost an election in Tokyo. As Asian traders were completing their day, the dollar index was up two-tenths of a percent at 95.79. The index, which gauges the greenback against a basket of [..]

Forex Market Review (European Session) – Dollar on course for worst quarter in 7 years; loonie at 10-month high

Posted on June 30, 2017 at 2:47 pm GMT

Today’s European session was a rather busy one in terms of data releases. Final UK figures on first quarter economic growth confirmed economic activity slowing down in the nation, while inflation figures out of the eurozone surprised to the upside but failed to boost the euro. Out of the US, consumer spending and the reading for the core PCE index were among the releases attracting attention. US consumer spending recorded a slight increase in May, rising by 0.1% month-on-month, in [..]

Week Ahead – US and Canadian jobs data eyed amid rate hike talk; RBA and UK PMIs also in focus

Posted on June 30, 2017 at 10:38 am GMT

Employment reports out of the United States and Canada will be scrutinized as the Fed eyes a third rate hike and the Bank of Canada moves closer to a tightening cycle. Central bank meetings will include the Reserve Bank of Australia and the Riksbank, while PMI data out of the United Kingdom, the Eurozone, China, Canada, and the United States will also be watched. RBA set to maintain neutral stance The Reserve Bank of Australia is expected to hold rates [..]