USDCAD

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:57 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

Canada to show no employment growth in December – Forex News Preview

Posted on March 6, 2019 at 3:45 pm GMT

Weighed by political jitters and disappointing GDP growth prints earlier this month, the Canadian dollar turns its sights to employment figures for direction. The results, however, published on Friday at 1230 GMT may extend economic uncertainty instead. After January’s impressive 66.8k rebound, analysts believe that the Canadian economy added no jobs in February, leaving the unemployment rate unchanged at 5.8% and slightly above the 44-year low of 5.6% first reached in December. These data follow a row of discouraging stats that [..]

European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:49 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]

Loonie declines ahead of rate decision; BoC expected to be dovish again – Forex News Preview

Posted on March 5, 2019 at 11:02 am GMT

The loonie has lost more than 1.0% of its value since last week, however, the currency is awaiting this week’s Bank of Canada (BoC) interest rate decision, which is scheduled to be announced on Wednesday at 1500 GMT. While interest rates are not expected to change, policymakers may adopt a more dovish tone amid heightened fears of a slowing global economy. The BoC is predicted to pursue a “wait-and-see” stance, as the markets believe that no rate hikes are taking place at this meeting. When they last met, policymakers left the [..]

European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:58 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

European Open Preview – Stocks bask in trade optimism; dollar advances

Posted on March 4, 2019 at 9:09 am GMT

Stocks cruise higher on reports that a trade deal is just around the corner Dollar advances, despite soft US data and ‘jawboning’ by Trump Loonie crushed as Canadian GDP disappoints, oil retreats Equities bask in trade optimism US stock markets closed higher on Friday, and futures suggest these indices will likely open in the green on Monday as well, fueled by renewed optimism that a US-China trade deal is just around the corner. Media reports over the weekend reinforced such [..]

Week Ahead – ECB, RBA and BoC meetings eyed amid potential policy shifts; US jobs report in focus too

Posted on March 1, 2019 at 2:10 pm GMT

Central banks will move to the fore next week as the European Central Bank, the Reserve Bank of Australia and the Bank of Canada will be holding policy meetings. With all three central banks recently lowering their outlooks for their respective economies, markets will be on standby for possible shifts in policy stance. The US February jobs report will be another highlight for investors. Other key releases will be Q4 GDP numbers from Australia, Canadian employment figures, and UK and [..]

European Open Preview – Yen crumbles as risk sentiment improves, dollar rebounds

Posted on March 1, 2019 at 9:09 am GMT

Dollar rebounds after US GDP beats expectations, looks to ISM manufacturing index Yen falls to two-month lows as solid Chinese PMIs reinvigorate risk appetite Busy schedule today: Eurozone inflation data, UK manufacturing PMI, Canadian GDP Dollar inches up as US GDP tops forecasts, but stocks struggle The dollar was the main winner in Thursday’s session, drawing support from stronger-than-anticipated US GDP data for Q4 to outperform all its G10 peers outside of the Swiss franc. Economic growth clocked in at [..]

Technical Analysis – USDCAD keeps testing 200-day MA; bears still in control

Posted on March 1, 2019 at 7:51 am GMT

USDCAD bears have been stubbornly testing the 200-day moving average (MA) this week after confirming another lower high around 1.3340. But the momentum indicators signal that the negative mode has not faded yet as the RSI continues to hover below its 50 neutral threshold with weak momentum and the MACD keeps losing ground below its red signal line, both endorsing a neutral-to-negative bias for the short-term. Slightly below the 200-day MA, the 61.8% Fibonacci of 1.3118 of the upleg from [..]

European Open Preview – Stocks retreat as trade optimism fades, growth concerns return

Posted on February 28, 2019 at 9:17 am GMT

Risk aversion prevails as top US trade official reins in optimism, Chinese PMIs disappoint Sterling cruises even higher as no-deal Brexit risks fades Oil rebounds on supply news, but pulls back on demand concerns Today, German inflation and US GDP data will be in focus Risk-off mood prevails amid geopolitical and trade risks, soft Chinese data US equity markets closed with modest losses on Wednesday and futures suggest they may be headed for even more pain today, amid several risks [..]

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