USDCAD

Week Ahead – Central bank theme continues with BoE, SNB; OPEC to discuss output increase

Posted on June 15, 2018 at 1:35 pm GMT

The central bank theme will continue into the coming week as it’s the turn of the Bank of England and the Swiss National Bank to set monetary policy. Oil and energy stocks will also come into focus as OPEC and Russia meet to discuss whether to relax the oil output cap. It will be a quieter week for economic data, however, with Japanese inflation, flash Eurozone PMIs and New Zealand GDP likely to be the main headline grabbers. Loonie to [..]

US Open Preview – Euro posts modest gains but set for weekly loss; Trump to finalize list of targeted Chinese goods

Posted on June 15, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The euro edged higher by 0.26% versus the US dollar on Friday but was set to post its biggest weekly loss in 19 months after the European Central Bank (ECB) signaled it will keep rates at record lows until late 2019, pushing euro/dollar down by more than 250 pips at one point on Thursday. Meanwhile, Eurozone’s final CPI readings for May were in lie with preliminary estimates, with ECB member, Ewald Nowotny, saying that the central bank’s inflation target of just [..]

European Open Preview – ECB announces QE end, but dovish on hikes; trade developments eyed

Posted on June 15, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.25% on Friday, touching a fresh 7-month high and extending the spectacular gains it posted yesterday as the currency with the heaviest weight in the index – the euro – collapsed after the ECB policy decision (see below). The yen was on the back foot as well, falling by 0.2% versus the dollar, after the BoJ downgraded its inflation view at its own policy [..]

Technical Analysis – USDCAD prints fresh 1-year high; strongly bullish in near term

Posted on June 15, 2018 at 6:33 am GMT

USDCAD has been surging seen Thursday’s trading session, creating a fresh one-year high of 1.3140. The price is trying to surpass the 61.8% Fibonacci retracement level of the downleg from 1.3800 to 1.2060, around 1.3130, increasing the chances for more aggressive advances. The technical indicators continue to send bullish signals, suggesting that the strengthens in the market is not over yet. The RSI is currently increasing positive momentum towards its threshold of 70 and is pointing upwards, while the MACD [..]

US Open Preview – Euro bulls run higher ahead of ECB rate decision; BoJ policy meeting eyed too

Posted on June 14, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: The focus turns to the European Central Bank (ECB) interest rate decision and press conference a bit later on Thursday, with euro/dollar picking up by 0.31% before the meeting. The US dollar dived back from 3-week highs against the Japanese yen on Wednesday, erasing previous gains made after the Fed signaled two more rate hikes this year, bringing the total number of rises to four from the three previously thought. The FOMC raised the Fed funds [..]

European Open Preview – Dollar slips despite ‘hawkish’ Fed; all eyes on ECB

Posted on June 14, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.3% lower on Thursday, extending losses from the previous session. Although the Fed raised rates and upgraded its rate-path projections to signal one additional hike this year, Chairman Powell played down these hawkish signals in his press conference, sending the US currency lower overall. Meanwhile, haven currencies like the Japanese yen and Swiss franc are higher today, following reports the US may introduce tariffs on China [..]

US Open Preview – Dollar hits fresh 3-week highs ahead of FOMC rate decision

Posted on June 13, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Sterling dipped towards a 1-week low of 1.3310 against the US dollar on Wednesday (-0.20%) after CPI figures out of the UK missed slightly expectations on a yearly basis, coming at 2.4% instead of 2.5% analysts forecasted. Dollar/yen reached a 3-week high of 110.71 (0.15%) before the two-day FOMC policy meeting concludes later today, which will give hints on how many more rate hikes are in the Fed’s radar. The dollar index, which measures the dollar’s [..]

European Open Preview – Dollar inches up ahead of Fed decision; UK CPI coming up

Posted on June 13, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher by a little more than 0.1% on Wednesday, ahead of the Fed policy decision at 1800 GMT, where the central bank is widely anticipated to raise interest rates. In the UK, sterling managed to rebound against the euro and the yen yesterday, following a vote in Parliament that was interpreted as making a “softer” Brexit more likely. STOCKS: US markets closed mixed on Wednesday, with the Nasdaq [..]

US Open Preview – Sterling heads up despite a miss in wage numbers; Brexit vote in Parliament eyed

Posted on June 12, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: The greenback moved higher to a new three-week high of 110.49 versus the Japanese yen on Tuesday (+0.22%) after a successful meeting between the US President Donald Trump and the North Korean leader Kim Jong Un during the Asia session. They agreed to achieve a complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees to North Korea but kept sanctions against its old enemy in place for now. Later in the day, [..]

European Open Preview – Risk appetite buoyed by geopolitics; UK jobs data due in the midst of Brexit developments

Posted on June 12, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% higher on Tuesday, ahead of the release of the US inflation data for May and as the Fed kicks off its two-day policy gathering. Meanwhile, the yen is on the back foot as the encouraging outcome in the Donald Trump – Kim Jong-un meeting is supporting risk appetite and diverting flows out of haven assets. STOCKS: Wall Street indices closed higher on Monday, though the gains were [..]

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