All Articles Tagged - USDCAD

Daily Market Comment – Yen shines bright as Trump slaps tariffs on Mexico

Posted on May 31, 2019 at 7:47 am GMT

Risk aversion engulfs markets after US unleashes more trade havoc Dollar holds its ground even as Fed easing bets grow further US PCE inflation, German preliminary CPIs, and Canadian GDP due today Yen soars, loonie & peso crumble as Trump fires another tariff salvo Following a relatively calm session yesterday, risk aversion returned with a vengeance early on Friday, after the US President announced new tariffs overnight. All goods coming to the US from Mexico after June 10 will be [..]

Technical Analysis – USDCAD bulls face big challenge around 4-month high

Posted on May 31, 2019 at 6:39 am GMT

USDCAD is trading not too far from Wednesday’s new four-month high of 1.3550, following the rebound on the long-term ascending trend line in the daily timeframe. The momentum indicators suggest that there is still some advance for the pair. The RSI indicator is sloping upwards in the positive territory, while the MACD surpassed the trigger line and is rising above the zero line. Price action at the moment is above the Ichimoku cloud so the risks are to the upside. [..]

Loonie awaits Q1 GDP growth on Friday – Forex News Preview

Posted on May 30, 2019 at 3:44 pm GMT

The Bank of Canada reiterated at its policy meeting on Wednesday that the economy will likely pick up growth in the second quarter of 2019. Market specialists, however, predict that GDP growth data could show early signs of recovery on Friday at 1230 GMT despite the global trade risks. After recording the smallest expansion of 0.4% in more than two years in Q4, the Canadian annualized GDP growth is expected to have inched up to 0.7% q/q in the first [..]

European Open Preview – Dollar roars higher; Wall Street stabilizes, for now

Posted on May 30, 2019 at 7:43 am GMT

Dollar remains king as major peers continue to lack appeal Stocks calm down after drop, but perhaps only temporarily BoC stands pat, loonie drops as officials keep a lid on optimism Dollar reigns over FX market, nears 2-year highs The world’s reserve currency remains the undisputed king of the FX market, as investors continue to favor dollar-denominated assets amidst worries that the conflict between Washington and Beijing is slowly morphing into a new cold war. The greenback outperformed even the [..]

European Open Preview – Stocks slip as trade worries intensify; BoC decides

Posted on May 29, 2019 at 7:59 am GMT

Equities drop, safe havens soar as trade outlook darkens Bank of Canada meets today – may be a touch more optimistic Aussie resilient despite trade woes & RBA rate cut bets Trade woes return to haunt stocks; yen & dollar cruise higher Risk appetite turned sour again on Tuesday, as British and American traders returned to their desks after a long weekend and were met by more worrisome trade news. Recent reports citing Chinese officials suggest the real reason the [..]

Will the BoC strike a more confident tone at its May meeting? – Forex News Preview

Posted on May 27, 2019 at 1:32 pm GMT

The Bank of Canada (BoC) is widely expected to keep its policy unchanged on Wednesday at 14:00 GMT. Recent economic data and some remarks by Governor Poloz argue for a slightly more confident tone overall, which may lift the loonie. That said, simmering trade tensions and other risks will likely keep a lid on the optimism, implying that any positive reaction may be only modest. After hitting a soft patch earlier this year, the Canadian economy has shown clear [..]

Week Ahead – US PCE inflation, BoC meeting and Aussie Q1 capex eyed amid rising risk aversion

Posted on May 24, 2019 at 9:58 am GMT

As trade tensions continue to simmer and there’s no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep a watch on. PCE inflation numbers from the United States, Canadian Q1 GDP estimates and a Bank of Canada meeting, as well as capital expenditure figures from Australia will be the main highlights. Aussie to stay on [..]

European Open Preview – Dollar retreats as rate-cut bets grow; yen soars

Posted on May 24, 2019 at 8:01 am GMT

Wall Street tumbles, yen soars on growth and trade concerns Dollar pulls back on mounting expectations for Fed easing Sterling catches its breath as May prepares to set departure date Risk sentiment takes a hit as soft PMIs revive growth worries Risk aversion dominated markets on Thursday, as alarming PMI data from major economies coupled with deepening US-China trade tensions amplified concerns around global growth. Preliminary Markit PMIs from both the US and Europe disappointed, highlighting that trade worries are [..]

Technical Analysis – USDCAD maintains neutral-to-bullish bias above cloud

Posted on May 24, 2019 at 6:52 am GMT

USDCAD was trading not too far from yesterday’s one-week high of 1.3501 on Friday, having pulled back slightly. But momentum indicators suggest there is still some upside for the pair to advance again. The near-term bias is looking neutral-to-bullish as the RSI is flatlining above the 50-neutral level, while the stochastics are pointing north and the %K and %D lines remain positively aligned. The neutral-to-bullish picture also holds true for the medium-term outlook as the pair has been consolidating following [..]

European Open Preview – Sterling suffers as knives come out for Theresa May

Posted on May 23, 2019 at 8:11 am GMT

Sterling hammered on expectations PM May could resign soon German PMIs disappoint – euro may stay under pressure Risk aversion deepens as markets fear ‘new cold war’ Fed minutes reaffirm neutral stance, dollar advances No reprieve for sterling as May fights for political survival The British pound continues to be hammered by political uncertainty, with the leader of the House of Commons – Andrea Leadsom – resigning from the cabinet yesterday in protest to the government’s Brexit approach. The move [..]

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