USDCAD

European Open Preview – Dovish RBA sinks aussie; dollar shines

Posted on May 21, 2019 at 8:34 am GMT

Aussie gives up election gains as RBA rate cuts come in focus US calms nerves by temporarily easing sanctions on Huawei Dollar advances as other currencies lose shine Aussie reverses lower as RBA rate cut bets soar The election-related boost that the aussie received yesterday proved short-lived, with the currency giving back nearly all its gains early on Tuesday, following the release of minutes from the latest RBA meeting and some remarks by Governor Lowe. The minutes played up the [..]

European Open Preview – Pound recovers some losses; dollar reigns supreme

Posted on May 20, 2019 at 8:16 am GMT

Sterling crumbles as no-deal Brexit risk returns Aussie gets a lift from politics, but outlook still grim Dollar continues to reign supreme as other currencies lack appeal Pound dives as May’s grasp on power weakens Sterling took yet another hit on Friday, with Cable falling to its lowest level since January as the British political landscape darkened. Cross-party talks between Theresa May’s Conservatives and the opposition Labour party collapsed, dashing hopes for a bipartisan compromise to break the Brexit deadlock. [..]

Technical Analysis – USDCAD neutral in short-term, within symmetrical triangle

Posted on May 17, 2019 at 7:09 am GMT

USDCAD has been range-bound for another week within the 1.3520-1.3375 area, while candles keep closing above the lower line of the symmetrical triangle. The sideway move in the RSI and the flattening Ichimoku indicators (Tenkan-sen, Kijun-sen) signal that the pair may extend its neutral performance in the short term. On the upside, the price would have to finish a session comfortably above the upper line of the symmetrical triangle (1.3500) for the bullish pressures to heat up. If that is the case, the next key resistance [..]

European Open Preview – Stocks bounce back as Trump downplays China tensions but weak data weigh on aussie

Posted on May 15, 2019 at 8:16 am GMT

Trade worries continue to ease after Trump calls latest escalation “a little squabble” Equities attempt a rebound on the back of the improving risk appetite But aussie and yuan held back from disappointing Chinese data Risk appetite recovers on Trump’s “little squabble” comments The US president, Donald Trump, sought to play down the latest spat with China on Tuesday, telling reporters “We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades”. Trump also [..]

Canadian CPI inflation follows upbeat employment report – Forex News Preview

Posted on May 14, 2019 at 3:41 pm GMT

After a solid employment report, the next important release for the Canadian currency is the inflation figures on Wednesday at 1230 GMT. While forecasts are positive, the Bank of Canada (BoC), like most of its major counterparts, is not expected to change its neutral stance on interest rates, not before the domestic economic picture brightens and global headwinds calm. In late-April, the BoC left interest rates unchanged and lowered its 2019 growth forecasts from 1.7% in January to 1.2%, with [..]

European Open Preview – Stocks slip again as trade tensions remain heightened; yen and franc up

Posted on May 13, 2019 at 8:23 am GMT

Trade tensions continue to simmer as China pushes back on US demands But two sides agree to hold more talks, keeping risk-off in check Safe-haven currencies such as the yen and the Swiss franc rise along with US government bonds US threatens new tariffs as talks with China stall US and Chinese negotiators failed to break the deadlock over trade in their talks last week as China refuses to change its laws to enact the reforms agreed in months-long negotiations. [..]

Week Ahead – US retail sales, Aussie jobs, Chinese industrial output to stand out in quiet week

Posted on May 10, 2019 at 11:33 am GMT

With market anxiety heightened about the direction of the US-China trade talks, economic data might struggle to distract traders next week given the shortage of top-tier releases. Still, there will be several major indicators that investors should keep an eye on, including Australian employment and wage figures, Chinese industrial output and retail sales readings, revised GDP estimates from the Eurozone, the UK jobs report and retail sales numbers out of the United States. Australian jobs stats could be key for [..]

European Open Preview – US raises tariffs, but traders still think it’s posturing

Posted on May 10, 2019 at 8:02 am GMT

Markets barely react after US raises tariffs, may be too complacent US inflation data coming up, may weigh on the dollar a little UK GDP and Canadian jobs figures also due Trump hikes tariffs, but complacent markets still see it as posturing As threatened, the US raised its tariffs on $200bn of Chinese goods to 25% overnight, from 10% previously. Beijing immediately responded it will be forced to retaliate, without providing any specifics. Yet, markets took the news in their [..]

Technical Analysis – USDCAD rebounds on 20-day SMA but indicators look weak

Posted on May 10, 2019 at 6:31 am GMT

USDCAD rebounded on the 20-day simple moving average (SMA) several times in the preceding sessions, but it still remains below the four-month high of 1.3520. The risk is currently viewed as bullish-to-neutral as on the one hand the RSI seems to be changing direction southward to meet its 50 neutral mark, but the red Tenkan-sen is on a sideways move above the blue Kijun-sen and the MACD is trying to strengthen above its trigger line. The bulls could set immediate target around the four-month high of 1.3520, while a break higher would open [..]

Canadian employment report is focal point for loonie this week – Forex News Preview

Posted on May 9, 2019 at 11:56 am GMT

The Canadian dollar is trading near its 2019 lows against the US dollar as investors await the employment report for April on Friday at 1230 GMT. Stronger figures in employment may provide some more relief to the domestic currency, sending dollar/loonie lower. Consensus is for the unemployment rate to hold at 5.8%, which is the highest level since October while the net change in employment is expected to show that the economy added 10,000 jobs from an unexpected drop of 7,200 [..]

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