USDCAD

European Open Preview – Rising yields bolster the dollar; eurozone flash PMIs in focus

Posted on April 23, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded higher on Monday, though by less than 0.1%, adding to the significant gains it posted on Friday on the back of rising US Treasury yields. The loonie plunged on Friday after Canada’s CPI data disappointed, while the safe-haven Japanese yen is a touch softer today, amid diminishing risks on the North Korean front. STOCKS: US markets closed lower on Friday, weighed on by a sustained rise in longer-term US bond yields. Rising [..]

US Open Preview – Euro under pressure; Canadian CPI pending

Posted on April 20, 2018 at 11:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar index, which gauges the greenback’s strength versus six major currencies, was up, standing at 90.14 (+0.22%). Dollar/yen managed to pick up speed, rising to 107.66 (+0.28%), boosted by the strong rally in US treasury yields. Pound/dollar was flirting with two-week lows, last seen at 1.4060 (-0.20%) following a deep fall yesterday immediately after the BoE Governor, Mark Carney, signaled that the central bank may not rush to raise interest rates in [..]

European Open Preview – BoE’s Carney slams the pound; Canadian inflation & retail sales eyed

Posted on April 20, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically unchanged on Friday, after it posted solid gains earlier on Thursday on the back of rising US Treasury yields. Sterling/dollar was 0.3% lower, with the British pound extending the losses it posted yesterday, after BoE Governor Mark Carney hinted that a rate hike in May is not actually a done-deal. STOCKS: US markets closed lower, pressured by a notable rise in longer-term US bond yields, something that usually [..]

Technical Analysis – USDCAD bullish movement is expected in short-term; next key level 1.2800

Posted on April 20, 2018 at 6:49 am GMT

USDCAD completed two consecutive bullish days this week and drove the price towards a new six-day high near the 1.2675 price level. When looking at the bigger picture, the pair has been trading within a rising sloping channel since September 2017, failing several times to exit from this range. The technical indicators, though, continue to send bullish signals, suggesting that the bullish market is not over yet. The MACD oscillator is moving slightly above the trigger line indicating that the [..]

US Open Preview – Oil bulls unlock fresh three-year highs

Posted on April 19, 2018 at 11:11 am GMT

Here are the latest developments in global markets: FOREX: Sterling tumbled to a five-day low against the greenback (-0.06%) on Thursday during the early European afternoon as UK retail sales recorded their biggest fall in a year. This follows a strong sell-off on Wednesday when the UK CPI dropped surprisingly to one-year lows, raising doubts on whether the Bank of England will proceed with further rate increases after next month’s widely anticipated rate hike. Dollar/yen was moving slightly higher by 0.13% on the day, last trading [..]

European Open Preview – Loonie softens on cautious BoC; UK retail sales in focus

Posted on April 19, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is higher today, but by less than 0.1%. Aussie/dollar is up by 0.2%, lifted by a notable rally across commodities. Meanwhile, the loonie steadied against the dollar, after it plunged yesterday on the back of cautious signals from the BoC. STOCKS: US markets closed mixed yesterday. While the Nasdaq Composite and the S&P 500 advanced 0.2% and 0.1% respectively, the Dow Jones fell nearly 0.2%, weighed on [..]

US Open Preview – Pound takes a knock after CPI miss; BoC rate decision next

Posted on April 18, 2018 at 10:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher against the Japanese yen by 0.28% during the early European afternoon as risk-off sentiment continued to ease while encouraging data out of the US on Tuesday increased confidence on the US economy even further. Sterling plummeted near to a one-week trough of 1.4172 (-0.73%) versus the greenback today after UK CPI figures missed expectations, falling to one-year lows. The yearly Eurozone CPI (second estimate) also ticked below [..]

European Open Preview – Safe havens retreat as geopolitical tensions ease; UK CPI and BoC rate decision coming up

Posted on April 18, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically unchanged on Wednesday, after it posted some gains on Tuesday. The Japanese yen and the Swiss franc were on the back foot as geopolitical risks were perceived as easing, while the British pound steadied somewhat after retreating yesterday. STOCKS: US markets soared for a second day in a row, as a strong earnings season and diminishing risks on the Korean Peninsula boosted risk appetite. The Nasdaq Composite [..]

Bank of Canada to remain on hold, may retain a cautious bias for now – Forex News Preview

Posted on April 17, 2018 at 3:38 pm GMT

The Bank of Canada (BoC) will announce its monetary policy decision on Wednesday at 1400 GMT, and expectations are for policymakers to refrain from raising rates for the second meeting in a row. While inflation edged up recently, the economy slowed and trade risks have remained elevated, presenting a dilemma for the Bank. On balance, officials may retain a cautious bias for now, while they monitor both economic data and trade developments. The BoC appeared quite cautious when it last [..]

US Open Preview – Pound erases gains as wage growth disappoints

Posted on April 17, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: Sterling extended yesterday’s rally towards a 22-month high of 1.4375 early today, its highest level since Britain voted to leave the European Union. However, after a disappointing wage growth print today, cable lost ground falling to 1.4315 (-0.14%) despite the unemployment rate inching down to a new 42-year low of 4.2% in February. Dollar/yen was slowly recovering losses made after Trump accused Russia and China of devaluating their currencies, something seen as indicating [..]

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