USDCAD

Forex Market Review (European Session) – Dollar rebounds after closer look at latest job report; Pound slides to nine-day low

Posted on April 7, 2017 at 3:36 pm GMT

The highlight of the day in terms of data was the US jobs report but other developments on the geopolitical front, namely the US attack in Syria, also shaped market behavior during today’s European session trading. The dollar was stronger for the day relative to the euro and sterling but slightly weaker versus the Japanese currency in late European session trading. Dollar / yen hit an eleven-day low of 110.12 in Asian trading as news of a US missile launch [..]

FX Daily Outlook | 06-04-17

Posted on April 6, 2017 at 8:54 am GMT

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Technical Analysis – USDCAD continues climbing; price above 50- and 200-day moving averages

Posted on April 6, 2017 at 7:24 am GMT

USDCAD is currently slightly up from the day’s open while it closed higher in the previous eight out of ten trading days. Additionally, the pair recorded a three-week high two days ago (April 4). Adding to the positive short-term bias are the RSI and MACD indicators. Specifically, RSI is at 61, comfortably above 50, its neutral-perceived level. The MACD histogram is above zero as well as above the red signal line. The April 4 high of 1.3455 could act as [..]

Forex Market Review (European Session) – Yen benefits by risk-off sentiment; dollar index gains

Posted on April 4, 2017 at 3:05 pm GMT

Today’s European session was relatively light in terms of data releases, with US factory orders and trade figures out of the US and Canada, as well as Eurozone retail sales being among the economic releases attracting attention. Beyond these, the strengthening of the yen was indicative of the market’s tilt towards risk aversion. Yesterday’s terror attack in St Petersburg, in conjunction with the uncertainty surrounding the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, taking place [..]

Forex Market Review (European Session) – Eurozone CPI disappoints; dollar flat

Posted on March 31, 2017 at 3:51 pm GMT

Market participants had a lot of information to digest in terms of economic releases as, among others, the day saw the release of final UK GDP data for the fourth quarter of 2016, Eurozone flash inflation estimates for March and US personal consumption expenditure (PCE) figures for the month of February. The greenback, as measured from the dollar index, was flat in late European session trading. Still the US currency had an otherwise strong week and should the dollar pick [..]

Forex Market Review (European Session) – Weaker euro after German inflation misses estimates; Q4 US GDP revised upwards

Posted on March 30, 2017 at 2:45 pm GMT

The final estimate of fourth quarter GDP and jobless claims out of the US, as well as March German inflation and data pertaining to sentiment in the eurozone economy, including consumer confidence, were released today. Besides economic releases, the dollar was again edging higher today. The dollar index, which gauges the greenback’s strength relative to six major US trade partners, continued climbing today, though moderately. The index is partly pushed higher due to the dollar gaining momentum versus the euro, [..]

Investment Theme – Commodity currencies struggle on faltering Trumpflation trade

Posted on March 29, 2017 at 9:59 am GMT

The pullback in the US dollar over the past two weeks has brought little relief to commodity-linked currencies, as their resilience against the resurgent greenback had been underpinned by the Trumpflation trade, which came close to being fully unwound this week. Currencies such as the Australian, New Zealand and Canadian dollars have come under pressure in the past week on fears that the reflation trade inspired by Trump has come to an end. Market expectations that Donald Trump’s presidency would [..]

Technical Analysis – USDCAD bullish; attempts close above middle Bollinger line

Posted on March 29, 2017 at 7:17 am GMT

USDCAD is not much changed from where it started the day, while a successful close above the day’s open would mark the fifth consecutive day that the pair has done so. The short-term bias as depicted by the RSI is bullish as the indicator is at 56 after coming from neutral levels. The price failed to close above the middle Bollinger line -a 20-day moving average (MA)- in the previous days and the line, currently at 1.3393, could act as [..]

European Session – Dollar stable; FOMC officials, including Yellen, in focus

Posted on March 28, 2017 at 3:17 pm GMT

Currency markets were in consolidation mode for the most part during today’s European session trading with major currency pairs not much changed from the levels they closed yesterday. Better-than-expected consumer sentiment did allow the dollar to advance a bit relative to other currencies. The dollar index was little changed relative to where it started the day, but above the 99 level and yesterday’s low which marked one of the lowest levels for the index since Donald Trump won the US [..]

European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:06 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]

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