USDCAD

European Open Preview – Risk appetite recovers despite US tariff news; eurozone inflation in focus

Posted on April 4, 2018 at 7:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was practically unchanged on Wednesday, consolidating after it posted some notable gains yesterday amid a recovery in risk sentiment and a surge in longer-dated US Treasury yields. Kiwi/dollar was among the prime winners today, gaining 0.35%. The loonie surged yesterday as well, on the back of optimism that a NAFTA deal may be reached soon. STOCKS: US markets recovered sharply, helped by a combination of diminishing risks surrounding [..]

US Open Preview – European stocks tumble, dollar stalls as trade worries persist

Posted on April 3, 2018 at 11:17 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher against the Japanese yen by 0.24% after three days of declines. However, the dollar index – which measures the greenback’s performance against six major currencies – fell by 0.10% on Tuesday, and is currently hovering just below the 90.00 handle. Euro/dollar was trading higher by 0.11% during today’s European session, standing marginally above the 1.2300 psychological level. Sterling advanced by 0.17% versus the greenback, hovering around its [..]

European Open Preview – Safe havens shine brightly, equities extend losses as China “strikes back”

Posted on April 3, 2018 at 8:07 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of six major currencies on Tuesday. Yesterday, the major mover was the Japanese yen, which surged on safe-haven demand, as trade concerns remained at the forefront. The Canadian dollar also gained amid speculation that the NAFTA talks could bear fruit soon. STOCKS: US markets sank once more yesterday, beginning the new quarter on the back foot as worries over protectionism and the [..]

US Open Preview – Dollar inches down as trade woes linger; US data & RBA decision eyed

Posted on April 2, 2018 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The US dollar held steady versus the Japanese yen today (+0.04%), taking a breather after last week’s rally. The US dollar index fell by 0.28% though, currently hovering just below the 90.00 handle. Traders are awaiting the US labor market data on Friday, which are expected to show a drop in the unemployment rate to its lowest level since 2000. Moreover, investors will keep their focus on any news regarding trade and protectionism, [..]

Week Ahead – US jobs and eurozone flash inflation take center stage amid other releases and RBA meeting

Posted on March 30, 2018 at 2:42 pm GMT

The upcoming week is set to be busier relative to the past one in terms of economic releases, featuring among others what is arguably the most significant release out of the US since the global financial crisis, namely the country’s jobs report. Eurozone preliminary inflation figures for March is another data set that will be closely watched by market participants, while the Reserve Bank of Australia will be holding a meeting on monetary policy. RBA set to remain on hold [..]

European Open Preview – Stocks rebound, greenback lags to end holiday-shortened week

Posted on March 30, 2018 at 8:14 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded 0.2% lower against a basket of six major currencies on Friday, with a public holiday in Europe and the US set to keep many traders away from their desks today, and liquidity in the FX markets thinner-than-usual. STOCKS: US markets closed higher yesterday, recovering some of the losses they posted earlier in the week. Technology stocks led the way higher for the most part, helped by some comments from the White [..]

Technical Analysis – USDCAD struggles below 50.0% Fibonacci; bearish correction mode in progress

Posted on March 30, 2018 at 7:15 am GMT

USDCAD completed a bearish correction following the pullback from the 9-month high of 1.3130, reached on March 9. As a side note, the pair has been consolidating below the 1.2950 level until the 1.2800 handle, which overlaps with the 40-day simple moving average (SMA) over the last six trading days. The price is stuck below the 50.0% Fibonacci retracement level of 1.2930 of the downleg from 1.3800 to 1.2060, which is acting as a major resistance barrier and holds near [..]

US Open Preview – Dollar treads water ahead of US inflation data

Posted on March 29, 2018 at 11:07 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded higher against a basket of currencies yesterday, with dollar/yen surging 170 pips in a single day, though its rally is starting to lose steam again in the European session currently (-0.19%). Today, dollar traders are likely to turn their attention back to the economic calendar and the core PCE index for February. Euro and sterling were sold-off against the US dollar for the second day in a row. [..]

European Open Preview – Dollar stages comeback as yen crumbles; US core PCE index eyed

Posted on March 29, 2018 at 8:09 am GMT

Here are the latest developments in global markets: FOREX: The dollar index declined 0.1% today, giving back some of the significant gains it posted yesterday when it recorded its biggest daily surge in six months. Meanwhile, the yen was losing ground as geopolitical tensions appeared to ease further, and amid increased flows in light of the Japanese fiscal year ending tomorrow. STOCKS: US markets closed lower again, though the magnitude of the declines was much smaller compared to recent days. The tech-heavy Nasdaq Composite [..]

Canadian GDP due amid raft of US releases – Forex News Preview

Posted on March 28, 2018 at 2:56 pm GMT

Canadian GDP figures for the month of January are due on Thursday at 1230 GMT. The release could give direction to the local dollar which has been performing poorly relative to its US counterpart, shedding 2.7% year-to-date. Economic activity in Canada is expected to have expanded by 0.1% m/m during the first month of the year, at the same rate as in December. Strong growth during the first half of 2017 was instrumental for the country’s economy to expand by [..]

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