All Articles Tagged - USDCAD

Canadian employment to rebound in July, but might not halt loonie’s slide – Forex News Preview

Posted on August 8, 2019 at 10:30 am GMT

Employment numbers out of Canada will be in focus on Friday at 12:30 GMT. As most other central banks rush to join the global rate cut frenzy, the jobs data will be watched closely for clues on whether the Bank of Canada is any closer to adopting an easing bias. However, despite the Bank of Canada’s neutral stance looking increasingly out of step with the rest of the world, the Canadian dollar has been on the slide since late July, [..]

Week Ahead – RBA and RBNZ to keep up rate-cut rhetoric; UK and Japan to post Q2 GDP

Posted on August 2, 2019 at 1:32 pm GMT

It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out of Canada too. The highlight for the United Kingdom and Japan will be GDP growth numbers for the second quarter, and in China, the monthly trade and inflation releases will [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:00 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

Technical Analysis – USDCAD searches for a close above 50-SMA; short-term bias bullish

Posted on August 2, 2019 at 7:16 am GMT

USDCAD has been building an upward trajectory over the past three weeks and is currently searching for a daily close above the 50-day simple moving average (SMA). The short-term bias is viewed positive at the moment as the RSI is gaining momentum above its 50 neutral mark and the MACD is strengthening above its red signal line and in the bullish area. Traders, however, could wait for the pair to jump above the Ichimoku cloud and the 1.3300 level to raise faith [..]

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:03 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:42 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Technical Analysis – USDCAD gains some ground; still negative in medium-term

Posted on July 26, 2019 at 6:07 am GMT

USDCAD found some footing around the nine-month low of 1.3015 last week and completed the fifth consecutive green day. Currently, the pair is approaching the 40-simple moving average (SMA), experiencing some gains above the 1.3145 barrier. The stochastic oscillator seems to be strengthening momentum above the 80 level, while the RSI is standing above the 50 level with weaker movement than before, signaling a more cautious trading in the short term. The 40-day SMA at 1.3182 could act as immediate resistance for the bulls. Breaking [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:10 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 7:48 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 7:47 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

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