USDCAD

US Open Preview – Pound hits two-week highs; European stocks gain as risk-on appetite returns

Posted on April 10, 2018 at 11:48 am GMT

Here are the latest developments in global markets: FOREX: Investors continued to digest encouraging comments by the Chinese President, Xi Jinping, during the early European afternoon, driving the Chinese-linked currencies such as the kiwi and the aussie even higher. The gains appeared after Xi backed free trade and pledged to limit import tariffs, while his remarks also somewhat eased concerns over a yuan devaluation. However, a report by Bloomberg today, saying that US-China talks regarding the high-tech industry stalled last [..]

European Open Preview – Risk sentiment boosted by Xi’s speech; US PPI due

Posted on April 10, 2018 at 7:50 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 practically unchanged on Tuesday. Against the yen, the dollar was nearly 0.4% higher though, after some comments from Chinese President Xi Jinping boosted risk appetite, curbing demand for the safe-haven Japanese currency. STOCKS: US markets managed to close higher on Monday, but importantly, the major benchmarks gave back most of their earlier gains a few hours [..]

European Open Preview – Dollar steadier after NFP miss but trade and Syria tensions weigh on sentiment

Posted on April 9, 2018 at 8:57 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was attempting a rebound on Monday, climbing back above the 107 level against the Japanese yen after twice coming under pressure on Friday. A smaller-than-expected increase in March nonfarm payrolls out of the US followed heated exchanges between the US and China on trade, causing the dollar to undo its prior day’s gains when it rose to 5-week highs. However, comments by US President Donald Trump over the [..]

US Open Preview – Dollar softer ahead of US jobs report; stocks tumble again as China-US trade row deepens

Posted on April 6, 2018 at 12:42 pm GMT

Here are the latest developments in global markets: FOREX: An escalation in the trade war between the United States and China, as well as investor caution ahead of today’s US jobs report led the US dollar to give up some of its earlier advance when it hit a 5-week high against a basket of currencies. The dollar index eased to 90.40 by mid-European session, while the greenback was flat versus the yen around 107.35. The euro managed to regain some [..]

European Open Preview – Markets shrug off latest trade tensions as dollar holds firm at 5-week high

Posted on April 6, 2018 at 9:29 am GMT

Here are the latest developments in global markets: FOREX: The US dollar came under fresh selling pressure yesterday after President Donald Trump stepped up the trade war with China and threatened additional tariffs on Chinese imports. The greenback briefly dipped below the key 107 level, having hit a 5-week high of 107.49 yen earlier in the day. Market participants chose instead to focus on the strong economic fundamentals of the US and global economy and the dollar quickly recovered, with [..]

US Open Preview – Dollar extends recovery on easing trade fears; European stocks advance

Posted on April 5, 2018 at 11:26 am GMT

FOREX: The US dollar rose by 0.20% to a two-week high of 107.14 against the Japanese yen on Thursday after a late recovery by US equities. Looking ahead, Friday’s non-farm payrolls report is still a major point of focus for traders. The US dollar index moved marginally higher, edging up to 90.15. Euro/dollar pared earlier losses which drove the pair to a two-week low of 1.2248. The single currency, which is currently challenging its medium-term ascending trend line, may have to wait until the release of the NFP report to [..]

Canadian employment report due with possibility for a NAFTA deal soon – Forex News Preview

Posted on April 5, 2018 at 9:05 am GMT

The Canadian employment report for the month of March will be made public on Friday at 1230 GMT. The Canadian dollar will be in focus as the data are released. The currency managed to post some gains versus its US counterpart as of late on the back of optimism around an imminent NAFTA deal, though it continues to perform poorly year-to-date, trading lower by 1.5%. Canada’s economy is expected to have added 20k positions in the month of March. This [..]

European Open Preview – Markets recover on hopes for trade negotiations; UK services PMI and US trade data due

Posted on April 5, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded 0.1% higher on Thursday. Against the yen, the dollar was up nearly 0.25% as concerns of an imminent trade war subsided, diverting flows out of the Japanese currency, which is considered a safe-haven asset. STOCKS: US markets closed higher yesterday, managing to recoup earlier losses following comments from US National Economic Advisor Larry Kudlow that helped to calm the nerves of investors worried about a potential trade [..]

Technical Analysis – USDCAD still consolidating in upward sloping channel

Posted on April 4, 2018 at 12:33 pm GMT

USDCAD has been consolidating since September 2017 and has been stuck in a channel titled slightly to the upside. The neutral to bullish picture in the short term looks to last for a while longer after prices failed to break above the upper channel in mid-March for a more clear tendency. Resistance was met at around 1.2940 region, which holds near the 50.0% Fibonacci retracement level of the downleg from 1.3800 to 1.2060, forcing the pair to reverse lower. The negative bias in [..]

US Open Preview – Yen rallies as China unleashes new tariffs on US

Posted on April 4, 2018 at 10:56 am GMT

FOREX: The US dollar index – which measures the greenback’s performance against six major currencies – dipped by 0.17% on Wednesday and safe-havens jumped once again after China took further trade retaliatory measures against the US today, imposing a 25% import tariff on key US products. Dollar/yen dropped to a session low of 105.98 before it inched up to 106.09, losing 0.43% on the day. Euro/dollar was trading higher by 0.08% during today’s European session and was last seen slightly below the 1.2300 psychological [..]

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