USDCAD

European Open Preview – UK Parliament holds “meaningful vote”

Posted on January 15, 2019 at 8:56 am GMT

British lawmakers will vote on the Brexit deal today; outcome crucial for sterling In the broader market, risk aversion is abating as China outlined plans for fresh stimulus Some remarks by ECB President Draghi may also attract attention Sterling turns its sights to the long-awaited parliamentary vote The spotlight will fall on the UK today, where Parliament will vote on the government’s Brexit deal during the evening, between 1900-2100 GMT. The consensus overwhelmingly suggests a rejection and hence, the real [..]

European Open Preview – Sterling climbs on hints of Brexit extension

Posted on January 14, 2019 at 8:58 am GMT

Sterling spikes higher, looks to parliamentary vote on Brexit deal tomorrow Risk aversion returns after Chinese trade data disappoint Euro inches lower as ECB officials strike a more concerned tone Pound outperforms on reports of Article 50 delay The British pound advanced against all its major peers on Friday, after UK media reported that the government is considering delaying the official deadline for exiting the EU on March 29, if it loses the crucial Brexit-deal vote in Parliament tomorrow. Although [..]

Technical Analysis – USDCAD freefall pauses around 50% Fibonacci; bias still negative

Posted on January 11, 2019 at 8:03 am GMT

USDCAD erased half of its October-December rally, dropping to a one-month low of 1.3179 on Wednesday before turning neutral. According to the RSI the pair is not far away from oversold territory at the moment, as the indicator lies slightly above 30, a sign that a rebound could possibly emerge in the short term. Yet, with the MACD entering the negative zone and the blue Kijun-sen line set to cross above the red Tenkan-sen, any gains could appear limited. The bearish shift [..]

European Open Preview – Dollar capitulates as Fed signals “patient” approach

Posted on January 10, 2019 at 9:11 am GMT

Dollar falls sharply after Fed signals it will be “patient”; a slew of key speakers will be in focus today Euro advances, and attention now turns to the ECB minutes at 1230 GMT BoC stands pat, keeping further gradual hikes on the table China stokes trade optimism, but US stock futures flashing red Dollar capitulates on Fed speak, extends losses after FOMC minutes The main mover in FX markets yesterday was the US dollar, which fell significantly and across the [..]

Bank of Canada to put rate hikes aside for now – Forex News Preview

Posted on January 8, 2019 at 3:20 pm GMT

The loonie recovered almost 2.0% of its lost value last week, registering its largest gain against the dollar in four months but the currency is waiting another test this week as the Bank of Canada is scheduled to set monetary policy on Wednesday at 1500 GMT. While interest rates are not expected to change, policymakers may use a more dovish tone amid heightened fears of a slowing global economy. The economic strength stemming from a tightening job market and higher [..]

European Open Preview – Dollar down, stocks up on Powell’s flexible policy; China boosts liquidity

Posted on January 7, 2019 at 9:28 am GMT

US Jobs report impress, Powell backs flexible policy China cuts reserve requirements amid slowing economic activity Loonie jumps to 3-week highs Nonfarm payrolls impress but Powell sounds cautious; China takes further monetary easing steps The US Jobs report beat expectations on Friday, brushing away fears of a cooling labour market and a slowing economy. Nonfarm payrolls jumped by 312k in December, while November’s print was revised upwards by 22k. Average hourly earnings also picked up speed to reach a new decade high of 3.2% [..]

Week Ahead – Factory data to remain in focus; BoC to start off 2019 central bank meetings

Posted on January 4, 2019 at 2:28 pm GMT

Industrial production out of Germany, the UK and France will dominate the economic calendar next week, keeping investors’ attention firmly on the growth outlook for 2019. The Bank of Canada will be the first of the major central banks to hold a policy meeting this year, while the highlight in the US will be the ISM non-manufacturing PMI and speeches from Fed policymakers. However, with market moves being mostly driven by jitters about the growth outlook at the moment, economic [..]

Technical Analysis – USDCAD retreats below 19-month high; tendency still bullish

Posted on January 4, 2019 at 7:21 am GMT

USDCAD changed direction, heading to the downside, in the very short term over the last couple of daily sessions after finding strong resistance on the new 19-month high of 1.3663 last week. However, currently, the price remains above the near-term ascending trend line, which has been in place since October 10 and holds around the 20-day simple moving average (SMA). The technical indicators are still located in bullish area, with the MACD is slipping below its red signal line and the RSI is approaching the neutral area [..]

Week ahead – US employment report to kick off the New Year

Posted on December 28, 2018 at 1:20 pm GMT

After a particularly turbulent week that lacked fresh catalysts but not wild price swings, traders will now turn their sights back to more familiar themes, such as economic data releases, and most notably the US jobs report for December. That doesn’t mean everything is back to normal though, as liquidity will likely remain thin, which implies that any piece of news could have a disproportionally large market impact. Further deterioration in China’s manufacturing PMI expected The week will commence with [..]

European Open Preview – Dollar sags but equities stage comeback

Posted on December 28, 2018 at 9:07 am GMT

US equities stage a major comeback late in the session, close higher Dollar edges lower as Fed rate-hike expectations are almost fully priced out Yen shines, loonie and aussie flirt with lows amid broader risk-off mood US stocks stage an impressive late comeback, but skepticism lingers It was another session characterized by sharp moves in both the currency and equity markets on Thursday amid thinner-than-usual liquidity, and with little in the way of fresh news to drive the price action. [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms