USDCAD

Technical Analysis – USDCAD fails to improve bullish actions; neutral in near term

Posted on April 12, 2019 at 5:54 am GMT

USDCAD has been remaining steady near the 23.6% Fibonacci retracement level of the upleg from 1.2250 to 1.3663 around 1.3230 over the last month, failing confirm once again its long-term upside tendency. The price is hovering within the Ichimoku cloud, while the red Tenkan-sen and the blue Kijun-sen lines are flattening. Furthermore, the RSI holds near the threshold of 50 and the MACD is standing below its trigger line and near its zero level. Both are confirming the recent bias in the daily [..]

European Open Preview – ECB meeting, EU Brexit summit, and much more

Posted on April 10, 2019 at 7:58 am GMT

Today is packed with market-moving events, including an ECB meeting, an EU summit on Brexit, US inflation data, and Fed minutes ECB is likely to maintain a dovish tone amid growth, trade concerns EU set to offer UK long but ‘flexible’ Brexit extension Meanwhile, trade uncertainty returns to haunt stocks ECB meets – No action, but perhaps more cautious language The European Central Bank (ECB) will announce its policy decision at 11:45 GMT, but the real action will likely begin [..]

European Open Preview – US proposes tariffs on EU, but markets remain calm

Posted on April 9, 2019 at 8:09 am GMT

US officially proposes tariffs on EU, but market reaction minimal so far Euro advances, looks to ECB meeting tomorrow In Brexit, May will meet Merkel and Macron today ahead of EU summit Lighthizer recommends tariffs on EU – new chapter in trade war? The main story overnight was that the US Trade Representative, Robert Lighthizer, proposed introducing tariffs on a list of 11$bn worth of EU products in retaliation to EU aircraft subsidies. This is the clearest sign yet that [..]

Technical Analysis – USDCAD hovers into Ichimoku cloud; neutral in short term

Posted on April 5, 2019 at 6:01 am GMT

USDCAD, has gained some momentum this week and rebounded around the 1.3295 support for the third time since the start of March and is trying set to exit the Ichimoku cloud. Moreover, the price found strong obstacle around the 20-day simple moving average (SMA), while it is holding above the 23.6% Fibonacci retracement level of the upleg from 1.2250 to 1.3663, around 1.3230. However, in the short-term, the pair hovers within a narrow range of 1.3295 – 1.3465. The technical [..]

European Open Preview – Equities extend gains; UK Parliament blocks no-deal

Posted on April 4, 2019 at 8:05 am GMT

Pound advances as UK Parliament blocks no-deal exit; all eyes on May-Corbyn talks Equities extend winning streak as trade optimism rides high ECB minutes the highlight on today’s calendar Parliament blocks no-deal Brexit, pound advances The Brexit process continues to dominate headlines. The House of Commons voted by the narrowest of margins (313-312) to force Theresa May to ask the EU for an extension beyond April 12. Lawmakers, not the government, will decide the length of the delay, subject to [..]

Loonie gains as Canada expected to add fewer jobs in March – Forex News Preview

Posted on April 3, 2019 at 1:40 pm GMT

March’s employment report for Canada is likely to attract investor’s attention on Friday at 1230 GMT as the Canadian dollar has been gaining some ground over the past week on the back of rising oil prices. Stronger figures in employment may provide some more relief to the domestic currency, sending dollar/loonie even lower. The unemployment rate is forecasted to stay at 5.8% in March, the highest level since October, while the net change in employment is expected to show that the economy added only 1,000 [..]

Week Ahead – RBA to mull dovish shift; resilient dollar eyes US jobs report

Posted on March 29, 2019 at 1:19 pm GMT

Bond markets will remain on edge in the coming week as the Reserve Bank of Australia could become the next central bank to switch to a dovish stance and possibly amplify the flight to safety, which has sent sovereign bond yields plummeting. Another catalyst for market volatility could come from the US jobs report, which has the capacity to either reverse or extend the rally in bond prices. There will be no shortage of US data with plenty of other [..]

Technical Analysis – USDCAD holds a bullish bias but strong resistance awaits near 2-month high

Posted on March 29, 2019 at 8:11 am GMT

USDCAD has gained little this week but it managed to hold above the 20-day moving average (MA) and re-enter the 1.34 area, with the technical indicators feeding prospects for a possible positive short-term trading; the RSI holds well above 50 , while the MACD continues to strengthen in bullish territory and above its red trigger line. Also, in Ichimoku indicators, the red Tenkan-sen keeps rising higher the blue Kijun-sen. Yet, the pair is facing strong resistance near its previous peak [..]

Week ahead – RBNZ meets, trade talks resume, and more Brexit in store

Posted on March 22, 2019 at 2:35 pm GMT

After a hectic week that saw the Fed officially abandon its rate-hike plans for this year and several developments in the Brexit saga, things could quiet down a little. The only major central bank to meet next week will be the Reserve Bank of New Zealand (RBNZ), while in the political arena, all eyes will remain on the UK as another Brexit vote could be held in Parliament. On the trade front, high-level talks will resume in Beijing. Brexit squarely [..]

European Open Preview – Dollar roars back; euro crumbles on soft PMIs

Posted on March 22, 2019 at 9:09 am GMT

Dollar recoups Fed losses as other currencies soften Stocks climb amid renewed trade optimism Pound trims losses as EU offers short extension Euro plunges after Germany’s manufacturing PMI signals more pain ahead Dollar roars back, recoups Fed losses The US dollar staged a remarkable comeback on Thursday, advancing against a basket of six major currencies to recoup all the losses it recorded following the Fed meeting, even without any positive US catalyst or news. What is particularly striking, is that [..]

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