All Articles Tagged - USDCAD

European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]

European Open Preview – Draghi torpedoes euro; US payrolls coming up

Posted on March 8, 2019 at 8:42 am GMT

US nonfarm payrolls report dominates the agenda today ECB pushes back rate hike timing, announces new loans; euro crumbles Stocks continue to retreat, yen advances as China’s trade data disappoint Nonfarm payrolls in the limelight The spotlight today will be on the US employment report for February. Forecasts are quite optimistic across the board. Nonfarm payrolls (NFP) are expected to have risen by 180k, less than January’s astonishing 304k but still a strong number overall. Meanwhile, the unemployment rate is anticipated [..]

Technical Analysis – USDCAD marks another weekly bullish spin; rally looks overstretched

Posted on March 8, 2019 at 8:06 am GMT

USDCAD repeated last week’s impressive performance and is set to close strongly green for the second consecutive week near two-month highs. The pair has also crawled above the Ichimoku indicators and its moving averages, giving positive trend signals, while according to the MACD oscillator bullish momentum is likely to continue in the short-term as the indicator is far above its red trigger line. The fast-stochastics, though warn over an overbought market as the green %K line and the red %D [..]

European Open Preview – BoC throws in the towel, spotlight turns to ECB

Posted on March 7, 2019 at 8:46 am GMT

ECB meeting the main event today, focus will be on signals for loans to banks Loonie sinks to two-month lows as BoC abandons rate hike plans Elsewhere, stocks retreat without a clear catalyst – perhaps on profit taking Will the ECB join the chorus of dovish central banks today? All eyes will be on the highly-anticipated ECB policy decision today, and in particular on the updated economic forecasts and Draghi’s press conference at 13:30 GMT. The euro area economy continues [..]

Canada to show no employment growth in December – Forex News Preview

Posted on March 6, 2019 at 3:44 pm GMT

Weighed by political jitters and disappointing GDP growth prints earlier this month, the Canadian dollar turns its sights to employment figures for direction. The results, however, published on Friday at 1230 GMT may extend economic uncertainty instead. After January’s impressive 66.8k rebound, analysts believe that the Canadian economy added no jobs in February, leaving the unemployment rate unchanged at 5.8% and slightly above the 44-year low of 5.6% first reached in December. These data follow a row of discouraging stats that [..]

European Open Preview – BoC decides as rate-hike bets evaporate; aussie drops

Posted on March 6, 2019 at 8:45 am GMT

Bank of Canada meets; markets seem to be expecting a major dovish pivot, which may not materialize US dollar rally revitalized by robust ISM index Aussie drops to two-month lows as RBA rate-cut expectations grow BoC decides as rate-hike bets evaporate The main event on Wednesday will be the Bank of Canada (BoC) rate decision. No action is expected, and since there is no press conference by Governor Poloz either, investors will scrutinize the accompanying statement for any policy hints. [..]

Loonie declines ahead of rate decision; BoC expected to be dovish again – Forex News Preview

Posted on March 5, 2019 at 11:01 am GMT

The loonie has lost more than 1.0% of its value since last week, however, the currency is awaiting this week’s Bank of Canada (BoC) interest rate decision, which is scheduled to be announced on Wednesday at 1500 GMT. While interest rates are not expected to change, policymakers may adopt a more dovish tone amid heightened fears of a slowing global economy. The BoC is predicted to pursue a “wait-and-see” stance, as the markets believe that no rate hikes are taking place at this meeting. When they last met, policymakers left the [..]

European Open Preview – Dollar rally in full throttle, but mind the speed bumps

Posted on March 5, 2019 at 8:47 am GMT

Dollar upswing continues unabated, but caution gradually warranted US stocks retreat after soft data, Chinese markets up on stimulus news RBA stays on hold, aussie yawns UK services and ISM non-manufacturing PMIs coming up today Dollar rally in full throttle, but speed bumps may lie ahead The US dollar registered another session of strong gains to kick off the week, gaining ground against all its major counterparts besides the defensive Japanese yen, which was the best performer as risk sentiment [..]

European Open Preview – Stocks bask in trade optimism; dollar advances

Posted on March 4, 2019 at 8:55 am GMT

Stocks cruise higher on reports that a trade deal is just around the corner Dollar advances, despite soft US data and ‘jawboning’ by Trump Loonie crushed as Canadian GDP disappoints, oil retreats Equities bask in trade optimism US stock markets closed higher on Friday, and futures suggest these indices will likely open in the green on Monday as well, fueled by renewed optimism that a US-China trade deal is just around the corner. Media reports over the weekend reinforced such [..]

Week Ahead – ECB, RBA and BoC meetings eyed amid potential policy shifts; US jobs report in focus too

Posted on March 1, 2019 at 2:08 pm GMT

Central banks will move to the fore next week as the European Central Bank, the Reserve Bank of Australia and the Bank of Canada will be holding policy meetings. With all three central banks recently lowering their outlooks for their respective economies, markets will be on standby for possible shifts in policy stance. The US February jobs report will be another highlight for investors. Other key releases will be Q4 GDP numbers from Australia, Canadian employment figures, and UK and [..]

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