USDCAD

European Open Preview – Nervous markets await tariff decision

Posted on May 9, 2019 at 8:31 am GMT

Markets remain in risk-off mode ahead of tariff decision tonight Risks seem tilted towards escalation, but it’s a close call Dollar eyes remarks by Fed Chair Powell and PPI data Yen extends gains as nervous markets await tariff decision Market sentiment remains fragile on Thursday as the prospect of further escalation in the US-China trade conflict continues to dampen the appeal of riskier assets, leading investors to seek shelter in safe havens. Indeed, the Japanese yen outperformed all its major [..]

European Open Preview – Risk aversion accelerates; RBNZ cuts

Posted on May 8, 2019 at 8:25 am GMT

Stocks plunge, haven assets shine as markets focus on trade risks RBNZ eases its policy, but kiwi bounces back Pound tumbles amid lack of progress in cross-party Brexit talks Risk aversion accelerates as trade worries prevail Trade concerns dominated price action on Tuesday, with global stock markets accelerating their losses while haven assets like the Japanese yen extended their gains, as traders continued to reduce their risk exposure ahead of crucial events later this week. Strikingly, there was no fresh [..]

European Open Preview – Stocks don’t ‘buy’ Trump’s threats; RBA holds fire

Posted on May 7, 2019 at 8:20 am GMT

US stocks stage comeback as markets doubt Trump’s tariff threats Aussie soars after RBA remains on hold RBNZ decides next – may also disappoint those looking for a cut Stocks bounce back as traders doubt Trump will escalate All eyes remain on the US-China trade conflict. Risk sentiment recovered yesterday as the session progressed, with US stock markets recouping most of their early losses to close only modestly lower. It seems investors didn’t really ‘buy’ Trump’s tariff threats, perhaps concluding [..]

European Open Preview – Trump threatens new tariffs, markets retreat

Posted on May 6, 2019 at 8:24 am GMT

Stocks fall, yen soars as Trump hints at new tariffs Dollar retreats after jobs data, but trade concerns provide support Sterling rebounds amid hopes for Brexit progress Trump warns of new tariffs on China, dents risk appetite Risk aversion is the name of the game on Monday, with investors diverting funds away from riskier assets like stocks and towards safe havens such as the Japanese yen, amid fears that the US-China trade conflict is ready to re-escalate. President Trump said [..]

Week Ahead – Aussie and kiwi braced for dovish RBA and RBNZ meetings; UK Q1 GDP also eyed

Posted on May 3, 2019 at 12:32 pm GMT

Central bank policy meetings in Australia and New Zealand will be the main focus next week with investors anticipating a further dovish tilt. Out of all the central banks that have turned dovish this year, the Reserve Bank of New Zealand is the most likely to cut rates and analysts are predicting a move as early as next week. In terms of economic indicators, UK growth figures for the first quarter will be the most important release followed by US [..]

Technical Analysis – USDCAD rebounds to keep uptrend; bias positive-to-neutral

Posted on May 3, 2019 at 6:51 am GMT

USDCAD bounced on the 20-day simple moving average (SMA) on Wednesday, switching its weekly status from negative to positive, a move that also kept the three-month trend to the upside. 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 increasing strength above its red signal line. The bulls could set a target between the five-month high of 1.3520 and a former [..]

European Open Preview – Dollar buoyant ahead of Fed, but caution elsewhere amid mixed growth signals

Posted on April 30, 2019 at 8:06 am GMT

Solid US growth and muted inflation boosts US dollar and Wall Street But other majors sag as disappointing Chinese PMIs revive growth fears Fed to start two-day monetary policy meeting, unlikely to alter stance Dollar eases from 22-month high but remains supported ahead of FOMC meeting The US currency was outperforming its peers early on Tuesday as there was further evidence on Monday that growth in the world’s largest economy is picking up speed. Personal consumption in the US rose [..]

European Open Preview – King dollar returns as investors flee euro, loonie

Posted on April 25, 2019 at 8:33 am GMT

Dollar index soars to 2-year high as euro, commodity currencies suffer BoC remains on hold but abandons rate-hike bias; loonie drops BoJ commits to low rates until 2020 but yen snoozes ‘King dollar’ returns as euro and antipodeans lose their shine The world’s reserve currency advanced across the board on Wednesday, with the dollar index soaring to 2-year highs, even without any US-specific catalyst. Instead, the greenback capitalized on weakness in other major currencies, most notably in the euro, aussie, [..]

European Open Preview – BoC may disappoint bears; US stocks hit records

Posted on April 24, 2019 at 8:02 am GMT

Bank of Canada may not be as dovish as markets expect today US stocks close at new record highs on blockbuster earnings Dollar rallies amid demand for US equities Aussie suffers after disappointing CPIs fuel rate-cut bets BoC: Cautious, but less than markets expect The main event today will be the Bank of Canada (BoC) policy decision at 14:00 GMT. No change in policy is expected, so price action will depend on the language of the accompanying statement, the updated [..]

European Open Preview – Earnings season fires up; aussie retreats

Posted on April 23, 2019 at 8:10 am GMT

Nasdaq 100 at record highs ahead of key earnings Aussie pulls back ahead of inflation data early on Wednesday Sterling retreats as PM May prepares to stave off another ‘Tory rebellion’ Nasdaq 100 cruises to record highs as earnings season fires up Markets remained quiet on Monday, with moves in both currencies and equities being muted overall and the spotlight remaining on oil prices instead. US stocks ended mostly in the green, with gains in the energy sector offsetting losses [..]

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