USDCAD

Week Ahead – Will BoE raise rates? RBNZ meets too; US inflation in focus

Posted on May 4, 2018 at 12:20 pm GMT

The Bank of England’s monetary policy meeting looks set to be the main highlight of the coming week amid a sudden reversal of rate hike expectations. The Reserve Bank of New Zealand will also be holding a policy meeting. Eurozone data will be sparse but US inflation indicators, Chinese trade figures, Australian retail sales and Canadian employment numbers should keep traders busy. RBNZ to stand pat The new governor of the RBNZ, Adrian Orr, will hold his first monetary policy [..]

US Open Preview – Greenback firms as markets await US employment data

Posted on May 4, 2018 at 11:20 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged higher by 0.20% during the European session to 92.55, approaching the four-month high of 92.63 reached on Wednesday. Euro/dollar remained under selling pressure after Eurozone’s retail sales and final services PMI figures were weaker than expected, slipping by 0.23%. Meanwhile, dollar/yen retreated to 109.05 (-0.08%), with the focus remaining on whether US jobs data will provide the spark for [..]

European Open Preview – Dollar eases off highs ahead of nonfarm payrolls

Posted on May 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher on Friday, but by less than 0.1%, recouping some of the losses it posted yesterday. Today, all eyes will be on the US employment data for April, and particularly on the wages component of that report. Sterling/dollar is down by 0.1%, with the British pound remaining under pressure as markets continue to price out expectations for a BoE rate hike next week. STOCKS: Wall Street closed [..]

Technical Analysis – USDCAD in neutral bias holding below 50.0% Fibonacci level

Posted on May 4, 2018 at 6:32 am GMT

USDCAD remains below the 50.0% Fibonacci retracement level of 1.2925 of the downleg from 1.3800 to 1.2060 over the last 10 days and creates a narrow range with upper boundary the 1.2925 and lower boundary the 1.2800 handle. The price is also developing above the 40-day simple moving average (SMA) and has so far not slipped below it. When looking at the bigger picture, the pair has been trading within a rising sloping channel since September 2017, failing several times to [..]

US Open Preview – Euro, pound lose momentum after data misses

Posted on May 3, 2018 at 11:31 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued to move lower during the early European session, deviating further below the 3-month high of 110.02 versus the yen reached during Wednesday’s European trading. Specifically, dollar/yen retreated to 109.49 (-0.32%), a day after the FOMC left interest rates unchanged. The accompanying statement acknowledged that inflation is close to target, signaling that policymakers would accept inflation surpassing the 2.0% target. However, a drop of a statement highlighting the [..]

European Open Preview – Dollar trades like a rollercoaster after Fed; eurozone inflation coming up

Posted on May 3, 2018 at 7:46 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 unchanged on Thursday after it touched its highest level in 2018 yesterday, in the aftermath of the Fed’s policy meeting. STOCKS: US markets closed lower yesterday, following the FOMC meeting. Although stock indices spiked higher immediately on the decision, that sentiment quickly turned around and equities edged lower to finish in the red. The S&P [..]

European Open Preview – Dollar climbs ahead of Fed decision; eurozone GDP eyed as well

Posted on May 2, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index continued to advance yesterday, reaching a fresh four-month high ahead of a policy decision by the Fed later today. Meanwhile, sterling came under renewed selling interest as UK data continued to disappoint, while the loonie experienced a very volatile session following some comments by BoC Governor Poloz. STOCKS: US markets closed mixed yesterday. The tech-heavy Nasdaq Composite climbed 0.91%, the S&P 500 gained 0.25%, while the Dow [..]

US Open Preview – Dollar enjoys gains ahead of core PCE inflation

Posted on April 30, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, edged up to 91.76 (+0.25%) during the early European afternoon, heading towards the 3 ½ -month high of 91.90 reached on Friday. Dollar/yen also climbed higher to touch an intra-day high of 109.29 ahead of the release of the core PCE index later today. On Wednesday, the Fed will announce its rate decision, while the famous Nonfarm payrolls will bring further volatility [..]

European Open Preview – Sterling torpedoed by soft data; German & US inflation prints due

Posted on April 30, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically unchanged on Monday. On Friday, it pared back gains posted early in the session and closed the day almost flat as well, pressured by a similar pullback in US Treasury yields. That said, last week was still a very productive one for the dollar index overall, which rose 1.3% to reach its highest level in three-and-a-half months. Elsewhere, sterling plunged on Friday following disappointing GDP data, as investors [..]

Week Ahead –Fed, jobs report and PCE inflation eyed by dollar bulls; RBA and Eurozone GDP also in focus

Posted on April 27, 2018 at 12:30 pm GMT

The central bank theme will continue next week as the US Federal Reserve and Reserve Bank of Australia hold policy meetings. The latest nonfarm payrolls report and PCE inflation figures look set to keep the US dollar at the centre of attention for much of the week. Another keenly awaited data will be the flash GDP and CPI numbers out of the Eurozone, while PMI readings from China, the United Kingdom and the United States will also be important. RBA [..]

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