All Articles Tagged - USDCAD

European Open Preview – No hawkish bits from BoE today; kiwi capitulates

Posted on February 7, 2019 at 8:29 am GMT

BoE may adopt a cautious tone today amid slowing economy, Brexit uncertainty Kiwi dollar collapses after soft jobs data ignite speculation for RBNZ rate cut Greenback capitalizes on weakness in other currencies; stocks stall BoE to strike cautious tone as Brexit uncertainty reigns The spotlight will fall on the Bank of England (BoE) today, which is expected to keep its policy unchanged via a unanimous vote at 12:00 GMT. Updated economic forecasts and a press conference by Governor Carney will [..]

Canada to add fewer jobs numbers in January – Forex News Preview

Posted on February 6, 2019 at 1:07 pm GMT

Canada is delivering its first employment report for this year on Friday at 1330 GMT but according to analysts the results may appear dull once again, likely leading to the conclusion that rate hike plans should remain on hold for now until further notice. In December, employment growth was muted at 9.3k, marking an average yearly increase of 163,000 for 2018, the lowest expansion recorded in three years, while the unemployment rate remained at the multi-decade low of 5.6%. In January, the economy is said to have [..]

European Open Preview – RBA chief jawbones aussie lower; pound slides

Posted on February 6, 2019 at 8:38 am GMT

Aussie plummets as RBA Governor changes tune, puts rate cut on table Pound dives after weak services PMI reinforces speculation for dovish BoE US stock markets cruise to fresh two-month highs RBA Governor reacquaints aussie with gravity The Australian dollar is in freefall early on Wednesday, losing more than a cent against its US counterpart, following some cautious-sounding remarks from RBA Governor Philip Lowe earlier. He backpedaled on some of the Bank’s prior rhetoric that the next move in interest [..]

European Open Preview – Neutral RBA lifts aussie; Wall Street advances

Posted on February 5, 2019 at 8:42 am GMT

Stocks climb while haven assets tumble, without any fresh catalyst Aussie outperforms after RBA wasn’t as dovish as markets expected Today, services PMIs from both the UK and US will dictate the action Stocks advance, yen crumbles as “no news is good news” Global risk appetite returned on Monday, in the absence of any material news or fresh fundamental catalysts to speak of. US stock markets recorded decent gains, with the benchmark S&P 500 (+0.68%) closing at a two-month high, [..]

European Open Preview – Dollar steady despite healthy US data; RBA in focus

Posted on February 4, 2019 at 8:51 am GMT

Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]

Week Ahead – BoE and RBA next to set rates; will they turn dovish too?

Posted on February 1, 2019 at 2:28 pm GMT

The Bank of England and the Reserve Bank of Australia will be next in the central bank world to set monetary policy amid rising risks and uncertainty about the outlook. It will be relatively quiet on the data front as Chinese markets will be shut for the whole week for the Lunar New Year celebrations, while the US economic calendar will be void of top tier releases. RBA to hold rates; may lower growth forecasts The Australian dollar will take [..]

European Open Preview – Dollar looks to payrolls; euro halted in its tracks

Posted on February 1, 2019 at 8:40 am GMT

The US employment report takes center stage today; dollar may be at risk Euro turns lower as Italy enters recession, Weidmann strikes dovish tone US stocks advance amid “progress” in trade talks Dollar rebounds, turns its sights to US employment data The dollar shaked off some of its post-FOMC weakness against a basket of six major currencies, mainly because the euro retreated (see below). There was little in terms of US catalysts, but that changes today, as the all-important jobs [..]

European Open Preview – Dollar suffers losses as Fed abandons hiking plans

Posted on January 31, 2019 at 8:45 am GMT

Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]

European Open Preview – Brexit stays in limbo; Fed decision eyed

Posted on January 30, 2019 at 8:50 am GMT

Fed decides; Powell’s remarks on the balance sheet may be crucial Pound slides as Brexit uncertainty seems set to remain elevated US-China trade talks commence; plethora of earnings and data also due FOMC meeting – emphasis on Powell’s balance sheet remarks The main event today will be the Fed policy decision at 1900 GMT, which will be followed by a press conference from Chairman Powell – as will every meeting from now on. No change in policy is expected, and [..]

European Open Preview – Companies sound warning on China; Brexit saga rumbles on

Posted on January 29, 2019 at 8:43 am GMT

Risk appetite stays fragile as key companies sound the alarm on Chinese growth In the UK, it may be a deciding day for Brexit as lawmakers vote on various plans Earnings season continues in full throttle today, little on economic calendar Corporate warnings on China rattle stocks, drag oil lower US equity markets closed in the red, after industrial bellwether Caterpillar (-9.1%) reported disappointing earnings and chipmaker Nvidia (-13.8%) slashed its revenue forecasts, both companies pointing the finger to weakening [..]

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