All Articles Tagged - USDCAD

Week ahead – Markets to enter holiday lull, but mind the volatility risk

Posted on December 20, 2019 at 1:31 pm GMT

As 2019 draws to a close, markets are set to enter a quiet period over the next couple of weeks, with no central bank meetings on the agenda and little economic data to keep traders entertained. That doesn’t mean that everything will be calm though, as liquidity will probably be very thin, making sharp price moves possible even without much news. US durable goods orders on the dollar’s sleigh In the world’s biggest economy, the sole data release will be [..]

Technical Analysis – USDCAD preserves a bearish tone, trapped in a range

Posted on December 20, 2019 at 9:42 am GMT

USDCAD seems to be on track to reach a significant support structure, despite its overall neutral picture reflected in the flat 200- and 100-day simple moving averages (SMAs), which are not giving any obvious direction. The short-term oscillators reflect the stall in negative directional momentum. The MACD in the negative region has flattened below its red trigger line, while the RSI is rising in bearish territory. However, the ADX continues to indicate that a strong negative trend is in place. [..]

Daily Market Comment – Pound stumbles, franc and yen up as Johnson aims for hard Brexit

Posted on December 20, 2019 at 9:14 am GMT

Pound headed for large weekly loss as UK government pushes for speedy Brexit Hard Brexit fears support safe havens even as US and China move closer to signing trade deal US consumption and inflation data eyed before holiday lull Brexit moves closer to reality, unnerves markets UK Prime Minister Boris Johnson used his post-election Queen’s speech yesterday to unveil his Brexit agenda and reintroduce the Withdrawal Agreement bill to Parliament with some changes. The revised bill has all the indications [..]

Daily Market Comment – Dollar shrugs off Trump impeachment; aussie jumps on upbeat jobs data

Posted on December 19, 2019 at 9:03 am GMT

Dollar unfazed from US House vote to impeach Trump, edges up on higher Treasury yields Aussie and kiwi bounce higher on better-than-expected domestic data; loonie also firmer Pound steadier ahead of Bank of England decision President Trump is impeached; markets don’t care President Trump became the third president in the history of the United States on Wednesday to be impeached after the House of Representatives, as expected, approved two charges against him for abuse of power and obstruction of [..]

Daily Market Comment – Markets begin to tone down ahead of holiday season; sterling extends slide

Posted on December 18, 2019 at 9:29 am GMT

Stock market rally loses steam as investors await further details on ‘phase one’ deal Pound continues to slip on revived no-deal Brexit fears Dollar supported by upbeat US data Aussie, kiwi and loonie on the backfoot; domestic data in focus Stocks pause for breath on lack of fresh headlines The global rally in equities appeared to be running out of steam on Wednesday as shares succumbed to profit taking after several days of impressive gains. Equities received a major boost [..]

Canadian inflation and retail sales to drive loonie – Forex News Preview

Posted on December 17, 2019 at 3:52 pm GMT

It’s a busy week in Canada, where CPI inflation data will hit the markets on Wednesday, ahead of retail sales on Friday. The loonie soared lately, as the de-escalation in trade tensions and the gains in oil prices painted a sunnier picture for the export-heavy Canadian economy, prompting investors to price out expectations of Bank of Canada (BoC) rate cuts. The subdued pricing implies that any disappointments in economic data going forward could come as a major ‘reality check’ for [..]

Daily Market Comment – Pound slips as hard Brexit fears resurface; stocks regain momentum

Posted on December 17, 2019 at 9:09 am GMT

Pound tumbles as Johnson raises the stakes in getting Brexit done by December 2020 Stock markets continue to cheer US-China trade deal despite some doubts Aussie under pressure after RBA hints at February rate cut Sterling faces Brexit reality check The British pound is on the slide following reports that UK Prime Minister Boris Johnson will use his huge parliamentary majority to make an amendment to the Withdrawal Agreement to make it illegal for the transition period to be extended [..]

Technical Analysis – USDCAD trend signals tilting to the downside

Posted on December 13, 2019 at 8:54 am GMT

USDCAD stretched this week’s decline until the 61.8% Fibonacci of 1.3150 of the upleg from 1.3041 to 1.3326 despite the declining risk-off sentiment. With the RSI testing its 30 oversold mark, the odds for an upside correction in the short-term are rising. However, with the 20-period simple moving average (SMA) in the four-hour chart crossing below the longer-term 200-period SMA, a trend improvement may come later than sooner, especially as the price keeps erasing its uptrend off 1.3041. Note that [..]

Daily Market Comment – Currencies take a breather ahead of risk events, stocks retreat

Posted on December 10, 2019 at 9:22 am GMT

FX market stays quiet as news flow dries up and traders await Fed decision tomorrow Pound perks up as Tories maintain poll lead; Yougov model today at 22:00 GMT may be critical Currencies snooze, equities retreat as investors position for risk events It was a very quiet session for financial markets, with most major currency pairs trading in tight ranges and ending little changed overall, without any major news to drive the price action. Stocks inched lower, with the [..]

Daily Market Comment – Dollar jumps on solid NFP; markets brace for huge week

Posted on December 9, 2019 at 9:21 am GMT

Greenback and stocks cheer after blockbuster jobs report, but yen tells a different story Loonie nosedives on weak employment data, despite higher oil prices Calendar is low key today, but week is packed: Fed, ECB, UK election, tariff decision Dollar shoots higher as nonfarm payrolls smash expectations It was all about the US employment data on Friday, which easily beat forecasts. Nonfarm payrolls clocked in at 266k, much higher than the expected 180k, with last month’s print also revised up. [..]

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