USDCAD

European Open Preview – Sterling unimpressed by EU’s Brexit deal approval

Posted on November 26, 2018 at 8:53 am GMT

Pound unimpressed by EU leaders approving Brexit deal, as UK Parliamentary endorsement still looks highly unlikely Euro drifts lower after soft PMIs heighten speculation for a cautious ECB; President Draghi’s remarks today will be watched closely Loonie unable to rally after decent data, as oil prices continue to plunge Dollar capitalizes on risk-off mood, looks to key Fed speakers for direction Pound little changed as EU leaders approve Brexit deal EU leaders approved the Brexit divorce deal over the weekend, [..]

Week Ahead – Brexit and G20 summits to take centre stage; Fed also under the limelight

Posted on November 23, 2018 at 1:51 pm GMT

European and world leaders’ summits preceding and concluding the upcoming week will be the most closely watched events as the market tone will be tied to how much progress is made with Brexit arrangements and in easing Sino-US trade tensions. The Federal Reserve will also be attracting plenty of attention as several policymakers, including Chairman Powell, are scheduled to speak. In terms of economic indicators, Australian quarterly business expenditure, Canadian Q3 GDP and US PCE inflation will be the highlights. [..]

Canadian inflation and retail sales due as loonie tests trendline – Forex News Preview

Posted on November 23, 2018 at 9:22 am GMT

Canada’s latest inflation and retail sales figures will hit the markets on Friday at 1330 GMT. Investors appear rather confident the BoC will raise rates again in January, and an overall strong set of prints could solidify such expectations further, perhaps helping the battered loonie to recover some lost ground. That said, until oil prices stabilize, any rebounds in the loonie may remain short-lived. Canadian inflation as gauged by the Consumer Price Index (CPI) is expected to have risen by [..]

European Open Preview – Pound spikes higher on Brexit news; eurozone PMIs and key Canadian data coming up

Posted on November 23, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and UK negotiators reached an accord on the draft political declaration, setting the stage for the deal to be approved by EU leaders over the weekend. [..]

Technical Analysis – USDCAD retains bullish mode in short- and long-term

Posted on November 23, 2018 at 7:35 am GMT

USDCAD has been trading in an ascending movement over the last one-and-a-half 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. Momentum indicators in the daily timeframe, are too weak to provide a sustained move higher as the RSI is flattening above the neutral threshold of 50 and the MACD dropped marginally below the [..]

European Open Preview – Dollar retreats a bit as risk aversion takes a breather; ECB minutes due

Posted on November 22, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a little lower on Thursday (-0.12%), extending losses from yesterday that were owed to disappointing US durable goods data and reports the Fed will debate whether to pause its hiking cycle early next year. The euro clawed back some of its recent losses, aided by optimism that the EU-Italy standoff may be resolved diplomatically. STOCKS: Wall Street closed mostly higher on Wednesday for the first time this week, amid [..]

European Open Preview – Dollar capitalizes on risk-off mood; euro eyes Italian budget saga

Posted on November 21, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is slightly lower on Wednesday (-0.17%), giving back some of the significant gains it recorded in the previous session as investors sought the safety of the world’s reserve currency. The loonie was the biggest underperformer, weighed down by another plunge in oil prices. Meanwhile, the yen and the franc attracted inflows amid the broad-based risk aversion, though both are a little lower today, as sentiment seems to have turned [..]

European Open Preview – Dollar extends pullback; BoE’s Carney appears before parliament

Posted on November 20, 2018 at 8:48 am GMT

Here are the latest developments in global markets: FOREX:The dollar index is marginally lower on Tuesday (-0.08%), extending the losses it posted in the previous session as US bond yields declined and a disappointing NAHB index fueled speculation the US economy may have peaked. The Swiss franc was the best performer, attracting inflows amid risk aversion in markets, while the euro followed closely in its tracks. The pound was little changed amid no fresh Brexit news, though investors may turn [..]

European Open Preview – Cautious Fed commentary weighs on dollar; Brexit, Italy, Sino-US trade in focus

Posted on November 19, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically unchanged on Monday, licking its wounds after a considerable drop in the previous session, which came on the back of cautious commentary from Fed policymakers. The euro capitalized the most on the dollar’s retreat, remaining largely unfazed by the heightened volatility in the British pound. STOCKS: The Dow Jones (+0.49%) and the S&P 500 (+0.22%) closed higher on Friday, after US President Trump hinted at a potential “ceasefire” in [..]

Week Ahead – Italy and Brexit risks to remain elevated ahead of Thanksgiving weekend

Posted on November 16, 2018 at 1:43 pm GMT

The coming week will be an unusually quiet one for economic releases but political developments in Britain and Italy will likely provide plenty of volatility for traders. As the UK prime minister, Theresa May, scrambles to save her Brexit deal and the European Commission ponders disciplinary action against Italy, it’s looking like another choppy week for the pound and euro. As for the upcoming data, the focus will be on flash PMIs for the Eurozone, and inflation figures out of [..]

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