USDCAD

Forex Market Review (European Session) – Dollar hits 8-week high versus yen, boosted by strong JOLTS data; aussie falls further after budget

Posted on May 9, 2017 at 3:01 pm GMT

The Australian dollar and the yen were some of the worst-performing major currencies today on improving risk appetite in the markets. The US dollar gained for a second day relative to a basket of major currencies on rising expectations for a June Fed rate hike and solid JOLTS data. The greenback rose for the third day against the yen to hit an eight-week high of 114.21 yen during the European session. Rising US bond yields have had an impact on [..]

Forex Market Review (European Session) – Euro pulls back from 6-month highs; Sterling holds within sight of $1.30

Posted on May 8, 2017 at 2:55 pm GMT

The euro’s relief rally from the French presidential result faded in European trading on Monday as profit taking set in, while the safe-haven yen recovered from its earlier weakness. The US dollar also gave up its earlier gains versus the yen but was firmer when measured against a basket of currencies. The single currency hit a 6-month high of 1.1022 dollars at the Asian open but had retreated to 1.0940 by late European session. A win for the centrist candidate [..]

Forex Market Review (European Session) – US job growth recovers; dollar fails to gain

Posted on May 5, 2017 at 3:14 pm GMT

The all-important non-farm payrolls number out of the US was released during today’s European session trading hours. The number showed a rebound from March’s underwhelming figure but failed to lift the dollar. Other important news pertained to Canada’s jobs report, which was also released today. The dollar index, measuring the greenback against the currencies of six major US trading partners, was more or less flat in late European session trading after falling to a near six-month low of 98.68 earlier [..]

FX Daily Outlook | 04-05-17

Posted on May 4, 2017 at 9:45 am GMT

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Technical Analysis –USDCAD bullish in the short- and medium-term; price close to 14-month high

Posted on May 4, 2017 at 7:16 am GMT

USDCAD is marginally up from the day’s open. Should the price finish the day higher, it would constitute an impressive ninth day in a row of up movements for the pair. Last week’s alignment resulting from the Tenkan-sen line (red) crossing above the Kijun-sen (blue) is indicative of the bullish bias that is in place. The RSI indicator reinforces this signal as it is currently well into bullish territory at 78. Do note though that the Kijun-sen is flat at [..]

Forex Market Review (European Session) – Euro and pound shine; dollar firm despite disappointing US GDP data

Posted on April 28, 2017 at 2:32 pm GMT

The euro and the pound outperformed other currencies in Friday’s European session, while dollar traders looked beyond disappointing US GDP figures to drive it higher versus the yen. The euro rebounded sharply from yesterday’s ECB-induced losses after stronger-than-expected inflation data for the Eurozone revived expectations that the ECB may soon begin to withdraw monetary accommodation. Headline inflation jumped from 1.5% to 1.9% year-on-year in April according to the flash estimates, just shy of February’s four-year high of 2.0% and above [..]

Forex News – Trump tax plan fails to lift markets; dollar pulls back

Posted on April 27, 2017 at 1:33 pm GMT

The US Treasury Secretary, Steven Mnuchin, yesterday announced the much-anticipated details on one of President Trump’s main election campaign pledges to cut taxes for businesses and individuals. Dubbed by Mnuchin as “one of the biggest tax cuts in history”, the tax plan provided few surprises as much of the details had already been circulating in the media in the prior days. The main highlights of the tax plan are simplifying income tax by cutting the number of tax brackets from [..]

FX Daily Outlook | 27-04-17

Posted on April 27, 2017 at 9:23 am GMT

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Forex Market Review (Asian Session) – Dollar lower after Trump tax plan outline disappoints; euro steady ahead of ECB

Posted on April 27, 2017 at 7:38 am GMT

US Treasury yields turned lower and the dollar trimmed recent gains versus the yen, helping gold recover from a two-week low. US President Donald Trump made his tax plan announcement on Wednesday, which was viewed as lacking in detail, prompting a fall in the 10-year US Treasury yield to 2.30%, moving off a two-week high of 2.35% reached on Wednesday. Against the yen, the dollar is lower from the near one-month high of 111.77 yen hit on Wednesday, trading just [..]

Forex Market Review (European Session) – Euro eases from highs; dollar steady ahead of Trump tax plans

Posted on April 26, 2017 at 3:02 pm GMT

The euro eased back from its earlier highs in Wednesday’s European session, while the US dollar largely held on to its gains as the market’s attention shifted to the much-anticipated announcement on tax reforms by the US Treasury Department. After two days of solid gains, the euro succumbed to profit taking as it pulled away from the 5½-month high of 1.0950 touched earlier in the day to ease to around 1.0880 dollars in late European session. Another factor driving the [..]

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