USDCAD

European Session – Dollar attempts a rebound in muted holiday trading

Posted on December 29, 2016 at 3:54 pm GMT

Currency markets were subdued on Thursday as volumes remained light with just one more trading day left before the end of the year. The US dollar moved away from the two-week lows it touched against the yen earlier in the day, while the euro and the pound managed to hold on to key levels. With little in terms of new data to excite the markets, US treasury yields continued to be the main driver of the dollar. Treasury yields came [..]

FX Daily Outlook | 29-12-16

Posted on December 29, 2016 at 10:54 am GMT

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Asian Session – Dollar pulls back against yen on weak data, BoJ summary

Posted on December 29, 2016 at 9:04 am GMT

The US dollar slipped to two-week lows against the yen in Thursday’s Asian session as a combination of disappointing US homes sales numbers and a relatively upbeat summary of opinions by the Bank of Japan drove the greenback below 117 yen. The euro rebounded back above 1.04 dollars, while commodity-linked currencies also made modest gains. An unexpected drop in pending home sales in the United States in November raised concerns about the possible impact of rising interest rates on the [..]

European Session – Dollar nudges upwards in holiday lull; Gold and oil also up

Posted on December 27, 2016 at 4:34 pm GMT

Major currencies were largely steady in today’s European session as volumes remained low despite most markets reopening after the Christmas break. Key markets such as London, Sydney and Hong Kong stayed closed on Tuesday, explaining the absence of many traders. The US dollar was the main gainer in European trading, though gold and oil also stood out. The greenback hit a session high of 117.61 yen, recovering from yesterday’s brief dip below the 117 level. The US currency got a [..]

European Session – Dollar mixed in thin trade ahead of long holiday weekend

Posted on December 23, 2016 at 4:36 pm GMT

The US dollar struggled for momentum in Friday’s European session as volumes thinned out ahead of the long Christmas holiday weekend. Data showing that consumer confidence in the United States climbed to an 12-year high in December was unable to prevent the dollar from slipping against the yen in late session. The University of Michigan’s consumer sentiment index was revised from 98.0 in December’s preliminary reading to 98.2 in the final release – the highest since 2004. Expectations were for [..]

European Session – Dollar and loonie slip on disappointing data; Euro climbs to 1-week high

Posted on December 22, 2016 at 4:24 pm GMT

The US dollar broke out of its tight range in late European trading following soft US consumer spending figures, which spurred the euro to a one-week high. Economic data out of the United States and Canada dominated afternoon trading in Europe today in an otherwise lacklustre session as traders began emptying their desks ahead of the Christmas holiday weekend. The euro jumped higher versus the dollar, hitting a one-week high of 1.0499, on the back of the dollar’s slide. There [..]

Technical Analysis – USDCAD turns bullish to target 1.35

Posted on December 19, 2016 at 9:17 am GMT

USDCAD turned bullish after rising from the key 1.3100 area. The pair’s decline from highs above 1.3500 soon found support just above the 200-day moving average. Following a brief dip below 1.3100, prices rose to a high of 1.3416 last week (December 15) but then USDCAD levelled off as the 50-day moving average acted as a barrier to further upside moves. Consolidation is expected in the near term as momentum has faded and the RSI has flattened around the 50-point [..]

European Session – Dollar sees some pressure as FOMC meeting gets underway

Posted on December 13, 2016 at 3:46 pm GMT

Market jitters over Fed policy pushed the US dollar down to the 115 yen level in Tuesday’s European session as the FOMC begins its 2-day meeting. The greenback slipped to 114.96 yen before rebounding back above 115 as investors grew nervous over the outlook for future Fed policy, while an expected rate hike of 25bps in the fed funds rate has been almost fully priced in by the futures market. The Federal Open Market Committee will publish its latest quarterly [..]

FX Daily Outlook| 12-12-16

Posted on December 12, 2016 at 9:44 am GMT

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Technical Analysis – USDCAD extends decline; short term bearish bias remains

Posted on December 12, 2016 at 9:12 am GMT

USDCAD extended its decline on Monday to touch a low of 1.3110, the lowest since October 20. The short-term bearish bias is still in place and this is highlighted by the falling RSI and MACD. Prices are heading towards the 200-day moving average which would likely act as support and restrict a further decline. This support level lies at 1.3074 and coincides with the 61.8% Fibonacci retracement level of the rise from 1.2762 to 1.3587. Below this, the key 1.3000 [..]

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