USDCAD

Week Ahead – Markets seek rate cut signals from Fed; BoE and BoJ meet too; euro eyes flash PMIs

Posted on June 14, 2019 at 10:57 am GMT

Central bank meetings will be front and centre next week as the Federal Reserve, Bank of England and Bank of Japan convene for their policy decisions. The Fed will likely grab the most attention amid intensifying expectations of a rate cut. In terms of data releases, the main focus will be on inflation as Canada, the Eurozone, Japan and the United Kingdom report for the month of May. Flash PMIs out of the Eurozone will be important too, so will [..]

Technical Analysis – USDCAD bulls return into play; remains beneath uptrend line

Posted on June 14, 2019 at 6:43 am GMT

USDCAD gained some ground after the aggressive sell-off towards the three-month low of 1.3240, penetrating the long-term ascending trend line to the downside. The technical indicators are feeding prospects for a possible positive short-term trading; the RSI is pointing up below 50, while the stochastic continues to strengthen its momentum. A decisive close above the 23.6% Fibonacci retracement level of the upward wave from 1.2250 to 1.3664 near 1.3330 could add more value to the pair, pushing the market up to [..]

European Open Preview – Yen up on trade deal pessimism; pound down on failed bid to block no-deal Brexit

Posted on June 13, 2019 at 8:11 am GMT

Major pairs struggle against the yen as the market mood sours on low hopes of a US-China trade deal US dollar also supported from risk-off despite softer-than-expected inflation data Pound gains then falls again as opposition MPs fail to get backing for legislation blocking a no-deal Brexit Safe havens back in demand Fading hopes that there could be a breakthrough in the stalled trade talks between the United States and China at the G20 summit weighed on market sentiment for [..]

European Open Preview – Dollar drifts lower ahead of US inflation data; euro edges up on Trump tweet

Posted on June 12, 2019 at 8:19 am GMT

US dollar drifts lower as markets await US inflation data for Fed rate clues Stocks turn negative as Trump says he’s “holding up the deal” with China Euro eyes fresh highs, gets a lift from Trump’s currency comments Risk appetite fades as US-China deal looking unlikely at G20 US stocks ended their five-day winning streak as hopes that the US and China would still be able to get the trade negotiations back on track at the G20 summit fast dwindled. [..]

European Open Preview – Stocks buoyed by hopes of US-Mexico deal; dollar crawls higher ahead of NFP

Posted on June 7, 2019 at 8:30 am GMT

Markets hopeful the US and Mexico can reach a deal on migration to avert tariffs Dollar inches higher ahead of May nonfarm payrolls report Euro firmer after ECB meeting as Draghi fails to provide strong easing signals Optimism about US-Mexico talks lifts markets Global stock indices were headed for weekly gains as expectations that the US Federal Reserve and other central banks around the world would soon cut interest rates to counter the damaging impact of rising trade tensions lifted [..]

Technical Analysis – USDCAD indicators turn bearish; ascending line eyed

Posted on June 7, 2019 at 7:30 am GMT

USDCAD lost around 1.20% this week to fall back below its 20- and 50-day simple moving averages (SMA) and into the Ichimoku cloud, while the momentum indicators turned bearish, flagging further weakness ahead. The MACD entered the negative zone, deviating further below its red signal line, and the RSI slipped under its 50 neutral mark. The price, however, is currently testing the lower Bollinger band and is not far above the ascending line drawn from the 1.3067 bottom, a signal that further declines [..]

Loonie turns eyes to Canadian Jobs data – Forex News Preview

Posted on June 5, 2019 at 11:19 am GMT

The latest monetary policy meeting in the preceding week by the Bank of Canada highlighted the importance of the labor market, making the Canadian employment report due on Friday at 1230 GMT the next major event for the loonie. After hitting a record of 106.5k increase in April, the Canadian economy is expected to have created 7.5k new job positions in May. The participation rate is predicted to tick lower to 68.5% from 65.9% previously, while the unemployment rate is not anticipated to excite [..]

European Open Preview – Dollar extends slide as Fed rate cut bets intensify; Powell speech eyed

Posted on June 4, 2019 at 8:16 am GMT

US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for its third straight day of sharp losses against a basket of currencies as traders continue to price in an increasing probability that the Federal Reserve [..]

Week Ahead – RBA and ECB meetings in focus; US jobs report eyed amid runaway dollar

Posted on May 31, 2019 at 10:48 am GMT

As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer. The Australian dollar will also be under the spotlight as the country’s central bank could make its first rate cut in three years. The European Central Bank will meet too as the Eurozone struggles to escape the dark clouds hanging over it. In Canada, the latest employment report will be [..]

European Open Preview – Yen shines bright as Trump slaps tariffs on Mexico

Posted on May 31, 2019 at 7:58 am GMT

Risk aversion engulfs markets after US unleashes more trade havoc Dollar holds its ground even as Fed easing bets grow further US PCE inflation, German preliminary CPIs, and Canadian GDP due today Yen soars, loonie & peso crumble as Trump fires another tariff salvo Following a relatively calm session yesterday, risk aversion returned with a vengeance early on Friday, after the US President announced new tariffs overnight. All goods coming to the US from Mexico after June 10 will be [..]

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