USDCAD

Forex Market Review (European Session) – Euro surges to 6-month high after German ZEW and Eurozone GDP data; benefits from weak dollar

Posted on May 16, 2017 at 2:27 pm GMT

The euro was one of the best performing major currencies after surging on upbeat data out of the Eurozone. The single currency benefitted from a weaker dollar which was hurt by negative reports about the US President and his disclosure of sensitive information to Russian officials. The pound was briefly boosted by strong UK inflation data. The euro rallied to its highest level in six months against the dollar to reach $1.1088, as it was driven higher by upbeat data. [..]

Forex Market Review (European Session) – Dollar broadly weaker, Loonie hits 2-week high on stronger oil prices

Posted on May 15, 2017 at 3:02 pm GMT

The dollar was broadly weaker amid softer US Treasury yields in the wake of a series of disappointing US economic data. The Canadian dollar was one of the top performing major currencies today, reflecting firmer crude oil prices. Hopes of extending an OPEC production cut deal helped boost the US oil benchmark by 3%. The dollar index extended losses in the European session, driven lower by weaker US economic data. Following Friday’s soft retail sales and CPI releases, the US Empire [..]

FX Daily Outlook | 15-05-17

Posted on May 15, 2017 at 8:55 am GMT

[..]

Forex Market Review (Asian Session) – Dollar under pressure; oil jumps on hopes of extending OPEC deal

Posted on May 15, 2017 at 7:46 am GMT

The dollar came under pressure against most major counterparts but rose against the yen. Oil prices jumped higher on expectations that oil production cuts will be extended to next year. The yen was only briefly boosted by geopolitical concerns after news of another North Korean missile test over the weekend. On the economic data front, China released industrial production and investment figures for April, which were disappointing. But markets shrugged off the weak numbers to focus on China’s plan to [..]

Week Ahead – Inflation and retail sales data to dominate uneventful week; Japan GDP eyed

Posted on May 12, 2017 at 3:06 pm GMT

Inflation data out of the UK, Canada and the Eurozone will be the market’s main focus next week, as will Japanese GDP figures for the first quarter. Important indicators from China will also attract attention, while Australian employment numbers will be on investor’s watch list too. Chinese economic momentum seen easing in April Data out of China will be the highlight at the start of the week as retail sales, industrial output and urban investment figures are released on Monday. [..]

Forex Market Review (European Session) – Dollar falls after disappointing US CPI and retail sales data

Posted on May 12, 2017 at 2:45 pm GMT

US Treasury yields dropped following disappointing US data releases, which weighed on the dollar. The euro was one of the best performers. US retail sales fell short of analysts’ estimates and consumer price growth slowed in April. The weak data raised concerns that the Fed may not stick to its 3-rate hikes this year, especially since today’s data come after weak first quarter growth. Fed fund futures are now showing a less than 50% probability of the Fed raising rates [..]

FX Daily Outlook | 12-05-17

Posted on May 12, 2017 at 9:25 am GMT

[..]

Technical Analysis – USDCAD consolidates after bullish rally

Posted on May 12, 2017 at 8:19 am GMT

USDCAD is neutral in the near-term and pivoting around the key 1.3700 level. After rallying to a more-than 14-month high of 1.3792 on May 5, the market corrected and edged lower to find support at 1.3638. This support has held since May 5 and could lead to prices rebounding to re-test the 1.3792 high. The medium-term outlook is bullish especially after USDCAD broke above the key 1.3500 level on April 24. The technicals are supporting a bullish picture. MACD is [..]

Forex Market Review (Asian Session) – Kiwi drops to 11-month low after RBNZ; pound steady ahead of BOE

Posted on May 11, 2017 at 7:32 am GMT

The New Zealand dollar under-performed after a neutral RBNZ policy outlook. Sterling was steady ahead of the Bank of England meeting and the release of the BOE quarterly inflation report. The kiwi tumbled to an 11-month low against the greenback as the RBNZ noted a lack of inflation pressure in the economy and indicated it would keep rates low for an extended period of time. The Bank left rates at 1.75%, which was widely expected, but the markets were hoping [..]

Investment Theme – Bearish bets against Canadian dollar surge as oil and trade concerns mount

Posted on May 9, 2017 at 3:25 pm GMT

Investor sentiment has been turning increasingly bearish against the Canadian dollar over the past month as sluggish oil prices and growing concerns of a major trade spat between Canada and the United States weigh on the loonie. The bearish outlook drove the Canadian currency to a more than 14-month low against its US counterpart last week, coming close to breaching the C$1.38 level. The loonie was last trading near such levels in February 2016 when crude oil had just started [..]

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