All Articles Tagged - USDCAD

European Open Preview – Dollar ticks up after Fed minutes; aussie sinks

Posted on February 21, 2019 at 8:55 am GMT

Dollar ticks up after Fed minutes keep possibility of rate hikes alive European PMIs and ECB minutes the highlights of today’s agenda Aussie torpedoed as Chinese port bans Australian coal imports High-level trade talks resume in Washington Dollar crawls higher as Fed minutes aren’t as dovish as expected The minutes of the January Fed meeting confirmed the central bank will stay sidelined for a while amid several uncertainties, particularly in the global outlook. There was also broad consensus to end [..]

European Open Preview – Dollar retreats ahead of Fed minutes; pound soars

Posted on February 20, 2019 at 8:38 am GMT

Greenback pulls back on expectations for ‘dovish’ Fed minutes today Pound outperforms, soars back above $1.30 without Brexit news Gold sails past 10-month highs amid a quiet flight to safety Dollar retreats as traders brace for ‘dovish’ Fed minutes The dollar gave up some early gains on Tuesday to close the session much lower overall against a basket of six major currencies, as US traders returned to their desks after a holiday. While this retreat started without a clear catalyst, [..]

European Open Preview – Stocks & commodity currencies cheer trade progress

Posted on February 18, 2019 at 8:48 am GMT

Risk sentiment buoyed by signs of progress in US-China talks, though risk of auto tariffs casts shadow ECB’s Coeure sends the euro lower, but single currency bounces back US and Canada closed for today, attention may be on Brexit Stocks rally alongside commodity currencies amid trade “progress” Encouraging headlines around the US-China trade talks boosted global risk sentiment on Friday, following the conclusion of the high-level talks in Beijing. Both sides played up hopes for a deal, with President Trump [..]

Week Ahead – Flash February PMIs eyed for growth clues; Fed and ECB minutes to be watched too

Posted on February 15, 2019 at 1:33 pm GMT

The focus will firmly be on economic indicators next week as political and central bank events temporarily take a back seat. The latest PMI releases for the Eurozone will be one of the highlights as growth in the region grinds to a halt, while employment numbers out of Australia and the United Kingdom will attract attention too. Japanese trade and inflation figures will also be on investors’ watch list. Central banks will not be totally absent, however, as the latest [..]

Technical Analysis – USDCAD holds within SMAs; sharp move up needed for more gains

Posted on February 15, 2019 at 7:36 am GMT

USDCAD came to close to break the 40-day simple moving average (SMA), surpassing the 23.6% Fibonacci retracement level of the upward movement from 1.2060 to 1.3663, around 1.3285, earlier today. The positively aligned Tenkan-sen line serves as a testament to the bullish short-term momentum that is in place. The technical indicators also suggest a positive bias as the RSI entered in bullish territory, while the MACD is rising above the trigger and zero lines. Should the price stretch north, Thursday’s highs and the 40-SMA could provide immediate [..]

European Open Preview – Markets climb on trade euphoria; dollar rally revitalized

Posted on February 14, 2019 at 8:54 am GMT

Stock markets grind higher as trade hopes grow, but caution warranted Dollar bulls back in the driver’s seat as core inflation beats forecasts Aussie and kiwi outperforming on Chinese data; focus on trade talks Trade euphoria keeps markets afloat as talks commence, but mind the risks US stock markets continued their march higher yesterday, and futures suggest they are set to open in the green today as well, buoyed by optimism around trade after the US President indicated the talks [..]

European Open Preview – Dollar rips higher; RBNZ meeting in focus

Posted on February 12, 2019 at 8:41 am GMT

Dollar soars as ‘there is no alternative’; Fed’s Powell speaks at 17:45 GMT News US government shutdown may be avoided support risk sentiment RBNZ meets overnight; may strike a cautious tone, but is unlikely to be as dovish as market pricing implies Dollar rips higher, but can the bulls stay in control? The greenback shined for yet another session, continuing its unrelenting rally for an eighth day in a row versus a basket of major currencies, without much in the [..]

European Open Preview – Dollar extends winning streak; franc suffers mini “flash crash”

Posted on February 11, 2019 at 8:47 am GMT

Dollar ticks up, stocks mixed as risk sentiment remains fragile Swiss franc had a mini “flash crash” overnight, amid thin liquidity conditions UK GDP data due today, but focus remains on Thursday’s Brexit vote in Parliament Dollar climbs, stocks steady as sentiment remains wobbly The dollar advanced for a 7th straight session against a basket of currencies on Friday, albeit only modestly, as investors sought the security of the world’s reserve currency amid concerns around the health of the global [..]

European Open Preview – Stocks retreat on trade woes; BoE ‘holds the line’

Posted on February 8, 2019 at 8:43 am GMT

Risk aversion returns as Trump reignites trade fears, says he won’t meet Xi soon Sterling rebounds as BoE sticks to hiking plans, but Brexit uncertainty lingers Euro drifts lower after EU Commission slashes growth forecasts Canadian employment data coming up Stocks take a hit as Trump says he won’t meet Xi soon US equity markets closed well in the red yesterday, with the S&P 500 shedding 0.94%, following headlines that President Trump will not meet President Xi before the March [..]

Technical Analysis – USDCAD rallies to 2-week highs; stochastics overbought

Posted on February 8, 2019 at 8:09 am GMT

USDCAD has maintained bullish momentum for the fifth consecutive trading day, reaching two-week highs at 1.3328 on Friday. In the short-term, the RSI is signaling further improvement as the indicator is rising above its 50 neutral mark. Yet with the fast stochastics rising towards the overbought threshold of 80, downside corrections cannot be ruled out. An extension above today’s high of 1.3328 would shift attention towards the previous peak of 1.3373 as any violation at this point would break the downward trend started at the end of December. [..]

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