USDCAD

Loonie turns its gaze to BoC decision and OPEC meeting – Forex News Preview

Posted on December 4, 2018 at 10:18 am GMT

The Bank of Canada (BoC) will announce its rate decision on Wednesday at 1500 GMT, and expectations are for policymakers to take no action. The loonie will probably be driven by any signals regarding the likelihood of a rate hike at the next meeting, in January. Beyond monetary policy, the outcome of the OPEC gathering on Thursday may also prove crucial for the currency, via its impact on oil prices. The BoC is widely anticipated to keep interest rates unchanged [..]

European Open Preview – Markets retrace as trade optimism wanes

Posted on December 4, 2018 at 8:58 am GMT

Trade optimism fades as markets digest the agreement Dollar extends recent pullback Oil continues to recover amid speculation for an OPEC cut RBA slightly more upbeat, but no policy change in sight Stocks edge higher on trade relief, but optimism wanes The boost to global risk appetite following the US-China trade “ceasefire” seems to have been short-lived. Even though US stock markets closed higher, they did surrender a decent part of their gains late in the session, and futures tracking [..]

Week Ahead – Spotlight on US jobs report after ‘Powell Put’; RBA and BoC meet

Posted on November 30, 2018 at 1:56 pm GMT

The coming week will be significant both in terms of data releases as well as for central bank meetings. November nonfarm payrolls out of the US will likely be the most anticipated report but it’s going to be a big week for the Australian dollar too as Q3 GDP numbers are due along with an RBA meeting. The Bank of Canada will be the other central bank holding a scheduled meeting, though the Canadian dollar will probably be paying more [..]

European Open Preview – All eyes on the Trump-Xi meeting

Posted on November 30, 2018 at 8:41 am GMT

The Trump-Xi meeting is due tomorrow; whether a “ceasefire” is agreed may determine the near-term direction of the dollar and equities Market reaction to FOMC minutes was muted. Attention turns to a speech by NY Fed President Williams today at 1400 GMT Oil rebounds after posting fresh one-year lows, eyes next week’s OPEC meeting Trump and Xi to meet, outcome may shape risk appetite Movements in the FX market were largely subdued, with investors increasingly turning their attention to the [..]

Technical Analysis – USDCAD hovers below 5-month high; bullish in short- and long- term

Posted on November 30, 2018 at 7:08 am GMT

USDCAD returned some of the gains that posted on November 28, completing a five-month high around 1.3360. The pair has been trading in an ascending movement over the last almost two months, but in case of a penetration of the trend line it could move lower in the near term. Also, when looking at the bigger picture the pair has a clear upside trend after its rebound on the 1.2060 support level. From the technical point of view, the RSI indicator is flattening in positive territory, failing [..]

Loonie turns to Canadian Q3 GDP to halt slide – Forex News Preview

Posted on November 29, 2018 at 10:02 am GMT

The Canadian dollar has slid about 4% since the beginning of October on the back of the sell-off in crude oil – Canada’s biggest export earner. The currency’s weakness comes despite a mostly solid run of economic indicators out of Canada in recent months, which has allowed the Bank of Canada to pursue a monetary tightening path. Investors will therefore be watching Friday’s third quarter GDP release, due at 13:30 GMT, for clues as to how soon the next BoC [..]

European Open Preview – Powell sinks dollar, but mind the Fed minutes

Posted on November 29, 2018 at 8:38 am GMT

Dollar drops as Powell appears “dovish”. However, markets may have overreacted, hence today’s Fed minutes (1900 GMT) could be crucial Equities and commodity-linked currencies lifted by Powell’s remarks Pound capitalizes on dollar’s pullback and signs voters may support May’s deal Dollar drops as Powell appears “cautious”, but Fed minutes crucial Fed Chair Powell’s speech yesterday was widely perceived as dovish. The comment that grabbed most attention was that rates “remain just below the broad range of estimates that would be [..]

Technical Analysis – USDCAD bullish at 5-month peak, eyes highest since mid-2017

Posted on November 28, 2018 at 3:55 pm GMT

USDCAD touched a fresh five-month high of 1.3358 on Wednesday, trading not far below its firmest since June 2017 of 1.3385 hit in late June of the current year. The Tenkan- and Kijun-sen lines are positively aligned on the daily chart, acting as a testament of the bullish sentiment that is in place in the short term. Stronger gains may meet resistance around the 1.3385 peak. A decisive break above would turn the attention to the 1.35 handle which may [..]

European Open Preview – Greenback eyes Fed Chair Powell’s speech

Posted on November 28, 2018 at 9:06 am GMT

Dollar flirts with 1½-year highs as Fed’s Clarida “sticks to script” on hikes; remarks by Fed Chair Powell today at 1700 GMT will be key Stocks briefly slip on rumors of car tariffs but recover on Kudlow’s optimism Pound remains under pressure as political uncertainty reigns Dollar firms after Clarida’s remarks, and amid whispers of car tariffs The greenback shined bright once again on Tuesday, with the dollar index soaring to come within breathing distance of its recent 1½-year highs. [..]

European Open Preview – Dollar turns its sights to Fed speakers; pound tumbles

Posted on November 27, 2018 at 8:47 am GMT

Euro unable to sustain Italy-related gains, as ECB President Draghi struck a more cautious tone amid weakening data Dollar exploits euro’s softness, advancing nearly across the board; today all eyes will turn to a speech by Fed Vice Chair Clarida at 1330 GMT US stocks rebound, but “hawkish” Trump remarks on trade temper optimism Pound tumbles as markets digest Parliament will likely vote against Brexit deal Euro lifted by Italian optimism, but ECB drags it back down The common currency [..]

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