USDCAD

Technical Analysis – USDCAD pauses rally to dip back below 1.3600; bullish bias remains

Posted on April 26, 2017 at 12:33 pm GMT

USDCAD paused its rally after hitting a 14-month high of 1.3625. Prices moved back below the key 1.3600 level today. The short-term market structure remains bullish and the technical indicators are giving bullish signals. The market is above both the 50 and 200-day moving averages. RSI and MACD are in bullish territory. However, RSI has reached overbought levels at 70 which suggests some consolidation in the near term is likely, given the sharp rise in USDCAD recently. Only a break [..]

Forex Market Review (European Session) – Euro still buoyed by Macron win; Loonie under pressure from Trump

Posted on April 25, 2017 at 3:01 pm GMT

Markets remained in risk-on mood in European trading on Tuesday with the euro nudging further upwards against most of its major peers, while the safe-haven yen extended its declines. European and US equities also continued to make gains on the back of Sunday’s French election result where the centrist Emmanuel Macron became the frontrunner to win the second round on May 7. The euro was pushing towards fresh highs against the US dollar as it powered ahead to hit a [..]

FX Daily Outlook | 25-04-17

Posted on April 25, 2017 at 9:00 am GMT

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Forex Market Review (Asian Session) – Euro steady while yen and gold ease; Canadian dollar weakens

Posted on April 25, 2017 at 7:51 am GMT

The euro remained steady, near five-month highs against the dollar, while the yen and gold retreated as the outcome of the French elections dampened demand for safe havens. Markets shrugged off North Korean artillery drills carried out today to mark the 85th anniversary of the Korean People’s Army. Currency markets were relatively quiet during Asian trading due to a lack of key economic data releases as well as a public holiday in Australia and New Zealand, which left investors to [..]

Forex Market Review (European Session) – Euro slips ahead of French vote; sterling hit by disappointing UK retail sales data

Posted on April 21, 2017 at 2:51 pm GMT

Sterling tumbled after UK retail sales data significantly missed expectations on all counts. The euro slipped despite stronger PMIs as French elections loom. The safe haven yen was supported against a backdrop of event and geopolitical risk. Cable dipped below the key $1.2800 level in response to a disappointing UK retail sales report. Month-on-month retail sales fell 1.8% in March after a 1.7% increase in February. The headline figure came in at 1.7% year-on-year versus the 3.4% forecast. The quarterly [..]

Forex Market Review (European Session) – Dollar moderates Trump-driven losses after upbeat US jobless claims data

Posted on April 13, 2017 at 3:11 pm GMT

The dollar index against major currencies regained the key 100 level and the greenback’s losses against the yen that occurred after US President Donald Trump’s comments yesterday, have moderated. Late on Wednesday the President said the dollar is getting too strong and makes American goods more expensive overseas. Geopolitics was still also on the minds of investors today but their nervousness has somewhat abated. Some US data releases today briefly shifted investors’ focus away from concerns about North Korea, Syria, [..]

Forex Market Review (European Session) – Dollar moderates Trump-driven losses after upbeat US jobless claims data; gold hits new 5-week high

Posted on April 13, 2017 at 3:04 pm GMT

Technical Analysis – USDCAD downfall continues; pair posts 2-week low

Posted on April 13, 2017 at 10:26 am GMT

USDCAD is on its sixth straight day of declines, recording a more than two-week low during today’s trading as well. The pair is currently eyeing the 200-day moving average while yesterday it fell below the 50-day one. Adding to the bearish short-term bias is the RSI indicator, which rapidly fell to a level well below the 50 neutral mark at 38. Moreover, looking at the stochastics, the %K line dipped below the slow %D line and entered into bearish territory. [..]

Forex Market Review (European Session) – Loonie jumps after Bank of Canada raises growth forecast; sterling up after UK jobs report

Posted on April 12, 2017 at 2:41 pm GMT

Geopolitical concerns continued to dominate the markets but demand for safe haven assets somewhat eased slightly during the European session, with the yen and gold trimming some gains. Risk aversion helped support the yen, gold and US Treasuries, as investors demanded safety due to uncertainty over possible US military action against Syria and North Korea. Market participants await more details about the meeting between US Secretary of State Rex Tillerson and Russian Foreign Minister Sergei Lavrov. Gold prices were flat but [..]

Forex Market Review (European Session) – Dollar down despite 4-week high earlier in the day; upbeat housing data boost the loonie

Posted on April 10, 2017 at 2:47 pm GMT

Today’s European session was lacking any major economic releases as only the Sentix survey measuring Eurozone investor morale and housing starts out of Canada gathered some attention. Beyond those, recent geopolitical developments played a role in today’s movements as well. The dollar index was down one-tenth of a percent during late European session trading. The index, a broad gauge of dollar strength versus the currencies of major US trade partners, rose to a near four-week high of 101.34 earlier in [..]

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