USDCAD

European Open Preview – Kiwi records losses as RBNZ appears cautious; all eyes on the Bank of England

Posted on February 8, 2018 at 8:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was marginally lower on Thursday, after previously posting notable gains on Wednesday, as yields on longer-dated US Treasuries moved higher. Meanwhile, sterling was a little higher ahead of the Bank of England’s “Super Thursday” policy meeting. The kiwi dollar slipped, as the RBNZ disappointed those looking for an upbeat assessment. STOCKS: US equity indices experienced another volatile session on Wednesday, and finished lower overall. The Nasdaq Composite fell by 0.9%, the [..]

US Open Preview – Euro, pound down as European stocks recover; kiwi slips ahead of RBNZ rate decision

Posted on February 7, 2018 at 12:16 pm GMT

Here are the latest developments in global markets: FOREX: The yen extended its uptrend against the dollar, sending dollar/yen lower to 109.10 as investors maintained their risk-averse behavior after the recent sell-off in stock markets. The dollar index, though, was building positive momentum on the back of a weaker euro and pound, climbing to 89.87 (+0.33%). Euro/dollar slipped to 1.2342 (-0.30%) and pound/dollar weakened to 1.3872 (-0.44%) after the ECB board member, Sabine Lautenschlaeger questioned whether the transitional period after Brexit will “really [..]

European Open Preview – Dollar little changed; US equities rebound but is the turmoil over?

Posted on February 7, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was marginally lower on Wednesday, experiencing little movement in the session, as investors’ attention remained fixed on movements in stock markets. STOCKS: US equity indices rebounded yesterday, temporarily alleviating some concerns that the sell-off seen earlier in the week would develop into something much bigger. The Dow Jones led the way, gaining an extraordinary 2.3%, while the Nasdaq Composite followed in its tracks, up by 2.1%. The S&P 500 [..]

US Open Preview– Dollar flat as equity meltdown spreads to European stocks

Posted on February 6, 2018 at 12:45 pm GMT

Here are the latest developments in global markets: FOREX: The strong correction in stock markets which emerged amid hopes that the Fed will raise interest rates faster than expected did not provide much support to the dollar, with dollar/yen rising slightly up to 109.22 (+0.11%) as demand for the safe-haven yen also increased. The dollar index also edged up to 89.78 (+0.20%). Euro/dollar gave up earlier gains, retreating to 1.2356 (-0.06%), while pound/dollar fell to 1.3900 (-0.40%) after an attempt to [..]

European Open Preview – Stock bloodbath continues in full swing; RBA maintains neutral tone

Posted on February 6, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was practically unchanged on Tuesday, after posting some gains yesterday. The currency’s broader decline appears to have been halted, at least for now, as investors appear to be focused more on the collapse seen in stock markets. STOCKS: US markets suffered one of their worst days on record yesterday. The Dow Jones led the collapse, falling by an astounding 4.6%. The S&P 500 was down 4.1%, its largest one-day [..]

European Open Preview – Equities collapse, dollar recovers after payrolls

Posted on February 5, 2018 at 8:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded virtually unchanged on Monday, after recovering somewhat on Friday on the back of robust US employment data. STOCKS: US equity indices collapsed on Friday. The Dow Jones led the plunge, closing lower by 2.5%, while the S&P 500 fell 2.1%. The Nasdaq composite was down by 2%. These gigantic corrections came after the US jobs data for January showed wages accelerating notably, spurring speculation that US interest rates may [..]

Week Ahead – BoE, RBA and RBNZ meet: will FX moves influence monetary policy after strong rally?

Posted on February 2, 2018 at 12:22 pm GMT

Central bank meetings will dominate next week’s economic calendar as the Bank of England, the Reserve Bank of Australia and the Reserve Bank of New Zealand meet to set monetary policy. All three are expected to stand pat but surprises could be in store for the markets as policymakers adjust their outlook following recent developments pertaining to their economies and in forex markets. Economic data will not go amiss with most countries releasing monthly figures on trade and services PMIs. [..]

European Open Preview – Dollar retreats despite rising yields; US jobs report in the spotlight

Posted on February 2, 2018 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was practically unchanged on Friday ahead of the US employment data, after it previously posted notable losses on Thursday. The yen tumbled against its major peers, weighed on by the BoJ’s regular bond-buying operations, which pushed Japanese bond yields lower. STOCKS: Japanese markets retreated despite the overnight tumble in the yen. The Nikkei fell 0.9%, while the Topix pulled back 0.3%. In Hong Kong, the Hang Seng was in the green, [..]

Technical Analysis – USDCAD remains under pressure; maintains short-term bearish bias

Posted on February 2, 2018 at 7:42 am GMT

USDCAD has been developing lower over the last weekly sessions, after the strong pullback on the 1.2920 resistance level on December 19. The price broke several obstacles to the downside and ended Thursday’s session below the 1.2300 handle. Also, the short-term technical indicators are bearish and are pointing more weakness in the market. In the daily timeframe, the RSI indicator stands in the negative territory and is flattening near the 30 level, whilst the MACD oscillator is strengthening its bearish [..]

European Open Preview – Optimistic Fed message does little for the dollar; major economies’ manufacturing PMI data due

Posted on February 1, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.2% higher on Thursday, recovering some of its recent losses, buoyed by the Fed’s slightly more hawkish tone on the US economic outlook upon completion of its two-day meeting on monetary policy. STOCKS: Japanese markets skyrocketed, with the Nikkei 225 moving 1.7% higher and the Topix surging by 1.8%, both indices regaining some of the ground they lost in recent days. In Hong Kong, the Hang Seng was [..]

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