USDCAD

US Open Preview – Dollar bulls remain in control ahead of Fed chief’s prepared remarks

Posted on July 13, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index (+0.38%) continued its march higher during the European trading session on Friday, with little in the way of fresh news to guide price action. It is currently trading near 95.18, and if the bulls remain in control, it could soon test its highs for the year at 95.53. Reflecting the strength in the US currency, euro/dollar is down by 0.42% at 1.1622. Dollar/yen, although having surged earlier in [..]

European Open Preview – Yen retreat in full swing amid signs of trade negotiations looming

Posted on July 13, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.1% on Friday, building on the gains it posted in the previous session. The yen, meanwhile, is losing ground against all its major counterparts amid an absence of any worrisome news on the trade front, touching a fresh six-month low against the dollar. STOCKS:US markets closed higher on Thursday, buoyed by the absence of an immediate retaliation from China against the latest US tariff salvo, as [..]

Technical Analysis – USDCAD turns to consolidation but maintains upward pattern

Posted on July 13, 2018 at 6:50 am GMT

USDCAD turned neutral after its downfall from the 1-year high of 1.3385, finding support at the uptrend line it started building in mid- April. In the short-term, consolidation is likely to be continued as the RSI has flattened slightly above its neutral threshold of 50 and the MACD has paused its downward move near zero, while the 20-day moving average has lost steam as well. On the upside, the area between 1.3180 and 1.3203, outlined by the 23.6% Fibonacci retracement [..]

US Open Preview – Dollar marches higher as yen retreats; US CPI inflation & Brexit plan eyed

Posted on July 12, 2018 at 11:40 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen continued to advance during the European trading session on Thursday, rising by 0.49% in the day to touch a fresh seven-month high of 112.55, with the yen failing to draw any support from reports President Trump has threatened to withdraw the US from NATO. Meanwhile, euro/dollar was down marginally (-0.03%), ahead of the release of the ECB minutes from the June meeting at 1130 GMT, where investors will look for clues [..]

European Open Preview – Oil collapse pushes loonie lower; ECB minutes and US inflation in focus

Posted on July 12, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, attempting to extend the massive gains it posted in the previous session. Dollar/yen is up by 0.21%, having touched a fresh high for the year earlier. Meanwhile, the loonie dropped on Wednesday as oil prices collapsed, erasing the gains it posted after the BoC raised rates, to trade much lower in the aftermath. STOCKS: US markets closed lower yesterday, as trade concerns remained the dominant theme. Some [..]

US Open Preview – Dollar up, gold & yen down despite trade fears; BoC rate decision pending

Posted on July 11, 2018 at 12:06 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar continued its positive move (+0.23%) versus the Japanese yen on Wednesday and is set to post the third consecutive bullish day, while the US dollar index rose by 0.29%. Pound/dollar edged down by 0.25%, whilst euro/dollar dived by 0.35% to trade near the 1.1700 psychological level. Commodity-linked currencies headed lower after Trump’s administration warned China with further tariff measures targeting $200 billion products imported from the country. Aussie/dollar tumbled by 0.91% [..]

European Open Preview – Asian equities tumble as trade tensions intensify; Bank of Canada rate decision eyed

Posted on July 11, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically flat on Wednesday, after posting some very modest gains in the previous session. Commodity-linked currencies like the aussie, kiwi, and loonie, are all lower, following news overnight that the US is planning another set of tariffs against China. STOCKS: US markets closed higher yesterday, with the Dow Jones and S&P 500 rising by 0.58% and 0.35% respectively, while the Nasdaq Composite managed to gain 0.04% as well. However, [..]

BoC to raise rates, forward guidance to drive the loonie – Forex News Preview

Posted on July 10, 2018 at 1:14 pm GMT

The Bank of Canada (BoC) is widely expected to raise interest rates when it announces its policy decision on Wednesday, at 1400 GMT. What is much more uncertain, however, is whether policymakers will also highlight their support for further hikes in the coming months amid a relatively strong domestic economy, or whether boiling trade tensions will lead them to downplay such expectations. On balance, the former scenario appears more likely, though it’s a pretty close call. Put simply, the [..]

US Open Preview – Data miss drag euro and pound lower; dollar hits 7-week highs versus yen

Posted on July 10, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The British pound had a negative ride after the resignation of the UK Foreign Minister, Boris Johnson on Monday, because of disagreements with the Prime Minister, Theresa May, over the Brexit strategy. Also, pound/dollar reversed today’s gains in the wake of worse-than-expected industrial and manufacturing production figures, moving slightly lower by 0.04% on the day. The former decreased by 0.4% m/m in May after retreating by 1.0% in April, while the latter jumped by 0.4% following a decline of 1.3% [..]

European Open Preview – Sterling dives amid UK political turmoil; UK manufacturing output due

Posted on July 10, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Tuesday, trying to build on the modest gains it posted in the previous session. The British pound nosedived yesterday, following news that UK Foreign secretary Boris Johnson had resigned, with sterling/dollar also being 0.2% lower today. STOCKS: US markets closed higher on Monday, in the absence of any concerning trade-related headlines to dent risk appetite. The Dow Jones outperformed, gaining 1.31%, while the [..]

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