USDCAD

Technical Analysis – USDCAD plunges below 1.3000 strong key level; bearish in short-term

Posted on May 11, 2018 at 6:28 am GMT

USDCAD has been underperforming in the past two days, following the rebound on the 1.3000 strong psychological level on Tuesday. The pair plunged below the 50.0% Fibonacci retracement level of 1.2925 of the downleg from 1.3800 to 1.2060 and is developing below the 20- and 40-simple moving averages (SMAs) in the short-term as well. Looking at the daily timeframe, the MACD oscillator slipped below its trigger line in the positive area, while the RSI indicator fell in the negative zone [..]

US Open Preview – Pound rebounds to 1-week highs ahead of BoE rate decision; oil reaches fresh peaks

Posted on May 10, 2018 at 10:58 am GMT

Here are the latest developments in global markets: FOREX: Sterling recovered earlier losses ahead of the BoE rate decision later today, bouncing up to a 1-week high of $1.3616 (+0.46%) despite data on the UK’s industrial production and the trade deficit coming in worse than expected and shedding a dark cloud around the country’s economic outlook. The euro gained some ground, rising to $1.1882 (+0.28%), while the dollar eased to 109.62 (-0.09%) against the yen. However, rising long-term US Treasury yields continued to underpin the greenback at a time of increasing geopolitical risks [..]

Canadian jobs data next in line to shake the loonie – Forex News Preview

Posted on May 10, 2018 at 10:10 am GMT

Canada’s employment data for April are due out on Friday at 1230 GMT. Forecasts point to another solid report, which would confirm the Bank of Canada’s (BoC) view that any remaining labor market slack is quickly being absorbed. While a strong set of figures may support the loonie on the news, the currency’s broader direction will also depend on any movements in oil prices. Canada’s labor market posted a soft start to the year, but that seems to have been [..]

European Open Preview – Kiwi tumbles; BoE decision and US inflation in focus

Posted on May 10, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically flat on Thursday, ahead of the release of the US CPI data for April at 1230 GMT. Kiwi/dollar plunged nearly 1.0% overnight, after the RBNZ kept its policy unchanged but shifted to a more dovish bias, keeping the possibility of a rate cut on the table. Sterling/dollar traded 0.2% higher, as investors awaited the BoE’s rate decision today at 1100 GMT. STOCKS: Wall Street closed higher [..]

US Open Preview – Safe havens gain little despite rising Iran-US tensions; RBNZ rate decision next

Posted on May 9, 2018 at 11:07 am GMT

Here are the latest developments in global markets: FOREX: Safe-haven currencies did not gain much after Trump announced the withdrawal of the US from the 2015 Iran nuclear deal and expressed his plans to impose stricter sanctions on the country. Although investors were worried that political tensions between Europe, the US, and the Middle East could escalate, they did not increase their stakes on safe-haven investments much. Instead, they remained optimistic on the dollar as they are widely expecting the Fed to proceed with further monetary tightening later this [..]

European Open Preview – Dollar and oil continue marching higher as geopolitics dominate attention

Posted on May 9, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was nearly 0.3% higher on Wednesday, touching its highest level in four-and-a-half months, and extending the significant gains it posted on Tuesday on the back of a rebound in longer-term US Treasury yields and particularly strong JOLTS data. STOCKS: Major US indices closed practically flat on Tuesday, in the aftermath of the US decision to leave the Iran nuclear deal. The Nasdaq Composite and the Dow Jones managed to climb 0.02% [..]

US Open Preview – Dollar index breaks 93 key-level ahead of Trump’s nuclear decision

Posted on May 8, 2018 at 11:18 am GMT

Here are the latest developments in global markets: FOREX: The euro extended its losses against the dollar early in the European session as investors shorted their positions on the currency amid uncertainties surrounding the Eurozone’s economic performance, sending euro/dollar to a fresh 4-month low of 1.1870 (-0.41%). Pound/dollar was also on the back foot, slipping to 1.3509 (-0.35%) after the British Halifax house price index fell by more than expected on a monthly basis. Brexit risks were pressuring the pair as [..]

European Open Preview – Dollar little changed; Trump’s Iran decision in the spotlight

Posted on May 8, 2018 at 7:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which gauges the greenback’s strength against a basket of six major currencies, was practically flat on Tuesday ahead of a speech by Fed Chair Jerome Powell at 0715 GMT. It touched its highest level in five months yesterday, as the euro (which has by far the biggest weight in this basket) declined following some lackluster data out of the Eurozone. STOCKS: US markets closed higher yesterday. The tech-heavy Nasdaq Composite climbed [..]

US Open Preview – Euro under pressure as economic confidence fades

Posted on May 7, 2018 at 11:32 am GMT

Here are the latest developments in global markets: FOREX: The demand for greenback remained strong early in the European session, supported by rising confidence that the Fed, unlike its major counterparts, would keep pace with its stimulus reduction plans despite Friday’s nonfarm payrolls report showing wages growing less than expected. However, risks of a global trade war continued to hang in the background as trade talks between the US and Chinese negotiating teams last week failed to strike a deal. The [..]

European Open Preview – Dollar climbs after jobs data; trade developments eyed

Posted on May 7, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.1% higher on Monday, extending the gains it posted on Friday in the aftermath of the US employment report for April. The US unemployment rate touched a 17-year low, likely enhancing speculation that an ever-tightening labor market is set to push wages higher in the coming months – labor force participation did fall as well though. STOCKS: Wall Street closed higher on Friday, paring some early losses posted after the [..]

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