USDCAD

Technical Analysis – USDCAD sellers retake control in a range bound market

Posted on December 6, 2019 at 9:04 am GMT

USDCAD looks to be pushing lower with sellers trying to form a clear-cut direction. The recent ascent from 1.3041 failed to reach the resistance structure and sellers reversed the price back down from the 1.3289 area – which is the 50.0% Fibonacci retracement of the down leg from the 1.3564 to 1.3015 – and below the swing low of 1.3190. The short-term oscillators reflect mixed signals with the MACD indicating strengthening negative momentum, while the RSI in bearish territory is [..]

Daily Market Comment – Markets climb on hopes Trump is bluffing; pound soars

Posted on December 5, 2019 at 12:40 pm GMT

Risk appetite returns on reports suggesting Trump was just posturing on trade Pound surges as election polls show Tories consolidating their lead Loonie climbs on less-dovish BoC signals, looks to OPEC meeting Optimistic trade headlines breathe life back into riskier assets US stock markets snapped a three-day losing spell on Wednesday, with the S&P 500 gaining 0.63% on the back of a report claiming that American and Chinese negotiators are “moving closer” to agreeing the amount of tariffs that would [..]

Daily Market Comment – Markets rattled as Trump says “no deadline” for trade deal; gold jumps

Posted on December 4, 2019 at 9:30 am GMT

Risk mood darkens after Trump hints he’s in no hurry to sign trade deal with China US bill on China’s treatment of Muslim minorities further raises tensions between the two countries Safe havens soar as stocks and Treasury yields slide US ISM non-manufacturing PMI awaited; BoC decision eyed too Trump sends markets spinning as trade deal hopes fade Risk sentiment was dealt another blow on Tuesday after US President Donald Trump dampened hopes of an early resolution to the long-running [..]

Week Ahead – US jobs report could further bolster dollar; RBA and BoC meetings eyed

Posted on November 29, 2019 at 12:13 pm GMT

Central bank meetings and the US jobs report will kick off the final month of 2019 next week, energising the markets as many traders return from the Thanksgiving break in the United States. The nonfarm payrolls report will of course be the main highlight as a positive print there could further add to the improving picture for the US economy, fuelling the dollar. But the ISM manufacturing and non-manufacturing PMIs will also be key in directing the greenback in the [..]

Technical Analysis – USDCAD switches to neutral above tentative up trendline

Posted on November 29, 2019 at 9:05 am GMT

USDCAD shifted north to re-challenge the 1.3300 level after the bottom of the Ichimoku cloud halted the selling pressure but the positive traction was not strong enough to send the price above that mark. In momentum indicators, the RSI and the MACD are currently painting a neutral picture for the short-term as long as the former moves around its 50 neutral mark and the latter fluctuates around its zero and signal line. The lower surface of the cloud and the tentative up trendline stretched [..]

Canadian GDP data: Another risk for the loonie? – Forex News Preview

Posted on November 28, 2019 at 11:37 am GMT

Third-quarter GDP numbers out of Canada will hit the markets on Friday at 13:30 GMT. Forecasts point to a notable slowdown, but that would still be in line with the Bank of Canada’s (BoC’s) latest forecasts. As for the loonie, the risks continue to appear asymmetric. Market pricing for BoC rate cuts remains muted, even though the Bank itself stated that the bar for an ‘insurance cut’ is low. Hence, any disappointing piece of news could send the loonie plunging, [..]

Daily Market Comment – Trump keeps the trade hype train rolling, stocks levitate

Posted on November 27, 2019 at 9:35 am GMT

Equities power ahead on more trade optimism, but FX and bond markets remain skeptical In Britain, a crucial model-based poll may reveal how close the election will be Packed calendar today, with an avalanche of US data coming up US stocks ascend to new heights as Trump hypes trade deal The hype train that has pushed Wall Street to new records time and time again just keeps on rolling, with all three of the major US stock indices ascending to [..]

Daily Market Comment – Stocks hit new records, but currencies quiet

Posted on November 26, 2019 at 9:57 am GMT

Markets stay in ‘risk-on’ mode amid positive trade headlines, but risks mounting? Pound pares gains as polls show Labour closing the gap on Tories Light calendar today: tier-two US data and central bank speakers US stocks ride the trade hype train, cruise to new highs The bullish sentiment that enveloped financial markets on Monday persevered, with investors drawing hope from encouraging headlines surrounding the trade talks. The latest reports from Chinese media suggested the two sides have reached a “broad [..]

Week Ahead – Busy US calendar ahead of Thanksgiving; Q3 data eyed by aussie, kiwi and loonie

Posted on November 22, 2019 at 1:28 pm GMT

The coming week looks set to be unusually busy despite the US having a shorter week due to the Thanksgiving holiday. Nevertheless, the flurry of data may fail to generate much excitement. This could leave investors yet again exposed to the constantly changing sentiment on the trade outlook, especially if President Trump makes any references to the ongoing US-China talks in his Thanksgiving message. But in the absence of any fresh headlines on trade, the markets’ focus will mainly fall [..]

Technical Analysis – USDCAD’s price appreciation may be confined by resistance structure

Posted on November 22, 2019 at 9:51 am GMT

USDCAD is attempting to pierce below the 200-day simple moving average (SMA) after its latest recovery from the 1.3041 level, which extended the price past all SMAs but fell short of the resistance structure. The pair seems to be imprisoned within the 1.3382 and 1.3015 structure lasting nearly five-months, something also backed by the converging SMAs. The short-term oscillators, although improving, reflect some easing in the positive momentum. The MACD is rising above its red trigger line in the positive [..]

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