USDCAD

US Open Preview – Investors look to safe havens as trade worries linger

Posted on July 4, 2018 at 11:53 am GMT

Here are the latest developments in global markets: FOREX: With US markets being closed for Independence Day and trade risks discouraging investors from buying the dollar ahead of a deadline on Friday, when US import tariffs on $34 billion Chinese goods will take effect, the dollar was marginally down on the day against the safe-haven Japanese yen at 110.47 (-0.10%). The dollar index was flat at 94.67 as the euro turned weaker, whereas the pound continued to trade in positive territory. Euro/dollar slipped to 1.1634 [..]

European Open Preview – Sterling rebounds, turns its sights to UK services PMI

Posted on July 4, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by a little over 0.2% on Wednesday, extending some of the losses it posted yesterday on the back of declining longer-term US Treasury yields. The yen enjoyed some haven demand amid trade tensions, while the pound was buoyed by some hawkish rhetoric from the BoE and an encouraging UK construction PMI. STOCKS: Wall Street gave up early gains on Tuesday, to close lower overall. The drop was led by [..]

European Open Preview – Euro cheers German deal, awaits producer price & retail sales data

Posted on July 3, 2018 at 8:01 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.24% on Tuesday, giving back some of the gains it posted in the previous session. The euro rebounded somewhat following news that the German political deadlock had been solved, while the aussie gained in the aftermath of the RBA’s policy meeting. STOCKS:US markets managed to erase earlier losses and close higher on Monday, boosted by a rally in technology stocks. The tech-heavy Nasdaq Composite gained 0.76%, while [..]

US Open Preview – Equities retreat amid risk-off tones; aussie softens ahead of RBA decision

Posted on July 2, 2018 at 11:26 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen traded at 110.75 (+0.08%) on Monday, giving back most of the gains it posted earlier in the session when it briefly touched a one-month high of 111.05, with the yen failing to capitalize substantially on the broader risk-off mood seen in other asset classes, like equities. Meanwhile, the dollar index was up by 0.15% at 94.77. Euro/dollar was down by 0.35%, hovering just above 1.1640 as concerns of a political crisis [..]

European Open Preview – Euro pares gains as German political turbulence persists; dollar eyes ISM manufacturing PMI

Posted on July 2, 2018 at 8:21 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was higher by 0.2% on Monday. The euro was a touch softer as German political uncertainties remained a key theme. The loonie was also on the defensive amid a drop in oil prices, giving back some of the gains it posted on Friday following strong data releases. STOCKS: US markets closed higher on [..]

Week Ahead – Resilient dollar looks at US jobs report for new highs; UK PMIs and RBA in focus too

Posted on June 29, 2018 at 3:21 pm GMT

The US jobs report for June will be the highlight of the coming week as the greenback remains unscathed from the rising trade tensions. Canada will also publish employment numbers, while PMI releases in the UK and the US will be watched too, along with the Bank of Japan’s quarterly Tankan survey. In the world of central banks, policy meetings by the Reserve Bank of Australia and Sweden’s Riksbank will be making the headlines. Mixed outlook expected from BoJ Tankan [..]

US Open Preview – Stocks post relief rally after EU deal; US inflation data still to come

Posted on June 29, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: The euro surged early on Friday following news that the 28 European Union leaders agreed on a migration deal overnight, driving euro/dollar towards an intraday high of 1.1666 (+0.68%). Also, in terms of economic data, the Eurozone preliminary CPI jumped to 2.0% in yearly terms as expected, from 1.9% previously. Euro/yen climbed by 0.68% to 128.66, posting a two-week high. Dollar/yen jumped to a two-week high as well of 110.78, adding 0.05% to its [..]

European Open Preview – Euro rebounds on EU migration deal; US core PCE price index awaited

Posted on June 29, 2018 at 8:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.5% on Friday, as the currency with the biggest weight in that index – the euro – is advancing after EU leaders reached a deal on immigration overnight, dispelling some political uncertainty. The safe-haven Japanese yen is on the retreat, as the positive tones from the EU summit and the lack of any concerning trade news boosted risk appetite. STOCKS: US markets closed in [..]

Technical Analysis – USDCAD erases rally; set to post red week after two positive sessions

Posted on June 29, 2018 at 6:35 am GMT

USDCAD reversed back some of the previous week’s gains, creating a significant red day on Thursday after the bounce off the one-year high of 1.3385. The sharp sell-off has not shifted yet the positive medium-term outlook to negative as it is still developing above the ascending trend line. The technical indicators, though are sending bearish signals in the near-term, suggesting that the strong bullish bias is over. Looking at momentum oscillators on the daily chart, they suggest further declines may be on the cards [..]

European Open Preview – Dollar races higher; EU Summit to prove crucial for Merkel’s government

Posted on June 28, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is roughly 0.1% higher on Thursday, extending its gains from the previous session and trading just below an eleven-month high. Meanwhile, both the euro and sterling are on the defensive. The kiwi came under renewed selling interest after the RBNZ kept the option of a rate cut on the table. STOCKS: US markets closed lower on Wednesday, giving back earlier gains. The drop came after White House [..]

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