All Articles Tagged - USDCAD

European Open Preview – Dollar takes a hit on speculation for dovish Fed

Posted on January 28, 2019 at 8:58 am GMT

Reports the Fed may halt its balance sheet unwind hurt dollar, boost stocks Sterling marches higher ahead of decisive week for Brexit ECB President Draghi & BoE Governor Carney speak today Dollar slumps, equities advance on Fed reports & trade optimism It was a lively session for both currency and equity markets on Friday. The dollar slumped while stock indices climbed, amid renewed speculation that the Fed may turn even more dovish and the US-China talks could bear fruit soon. [..]

Technical Analysis – USDCAD collapses below 1.3300

Posted on January 28, 2019 at 8:23 am GMT

USDCAD lost almost 1% on Friday, reversing all the gains it gathered to close negative in the previous week. While negative momentum has somewhat slowed down on Monday, the RSI and the MACD suggest that the downside is likely to continue as the former weakens below its 50 neutral threshold and the latter returns below its red signal line. An extension lower could reach the previous low of 1.3179, whereas any violation at this point would open the way towards the 200-day simple moving average [..]

European Open Preview – Euro crumbles after ECB; Brexit hopes lift pound

Posted on January 25, 2019 at 9:03 am GMT

Euro closes lower on soft PMIs and ‘vigilant’ Draghi Stocks struggle amid conflicting trade signals Sterling advances on fresh Brexit reports Euro caves in after PMIs sink, Draghi ‘keeps his options open’ Euro/dollar had a particularly turbulent session on Thursday, before ultimately closing lower, caving in under the weight of disappointing PMIs out of the Eurozone and cautious commentary by the ECB. The preliminary manufacturing PMIs out of both Germany and France signaled contraction, revitalizing euro-area growth concerns, while a [..]

Technical Analysis – USDCAD rally takes a break; looks neutral in short-term

Posted on January 25, 2019 at 8:10 am GMT

USDCAD stabilized within the 1.33 handle after Monday’s rally, with momentum indicators supporting that consolidation may continue in the short-term; the RSI has reversed down to meet its 50 neutral mark, the MACD has improved above its red signal line and towards zero, while the Ichimoku Indicators, (the red Tenkan-sen and the blue Kijun-sen lines) have moved sideways. The 20- and the 50-day simple moving averages (MA), though, which are set for a bearish cross, suggest that the downfall off 1.3663 may be more than [..]

European Open Preview – ECB meets, all eyes on Draghi; pound soars

Posted on January 24, 2019 at 8:36 am GMT

ECB decision and Eurozone PMIs will chart euro’s course today Pound soars to 11-week highs versus dollar as no-deal Brexit risk fades Aussie tumbles on mounting speculation for RBA rate cut Stocks inch higher on strong earnings, dollar rebound stalls ECB meeting & Eurozone PMIs could make-or-break euro/dollar today It will be a crucial session for European assets and the euro itself today. The European Central Bank (ECB) will announce its policy decision at 1245 GMT, which will be followed [..]

European Open Preview – Market sentiment stays fragile, but kiwi shines

Posted on January 23, 2019 at 9:05 am GMT

Risk appetite remains weak as trade and growth concerns resurface BoJ stays on hold, provides no new signals – yen yawns Kiwi outperforms as New Zealand’s inflation prints beat estimates Growth and trade woes keep investors on the defensive Market sentiment remained fragile on Tuesday, with investors cutting their exposure to riskier assets and diverting those funds into safer plays, amid resurgent worries around global growth and trade uncertainties. News that the US will proceed with the extradition of the [..]

European Open Preview – IMF adds more clouds to global outlook

Posted on January 22, 2019 at 9:22 am GMT

IMF downgrades growth forecasts; stocks feel the pinch May keeps “no-deal Brexit” scenario alive Oil reverses lower amid signs of slowing global economy Risk appetite stays bearish amid growing global growth fears Stocks in Asia had another weak session on Tuesday as pessimism about global growth kept funds away from risky assets, with Chinese equities losing more than 1%. A couple of hours after China reported its slowest quarterly economic expansion since the financial crisis and the lowest annual growth in 30 years, the International Monetary [..]

European Open Preview – Stocks extend trade gains; Brexit saga continues

Posted on January 21, 2019 at 8:48 am GMT

Reports China is willing to buy more US goods keep risk appetite buoyed Euro/dollar eyes key support area, looks to Thursday’s ECB meeting Today, focus turns back to the UK; PM May presents her alternative Brexit plan Fresh trade headlines propel stocks even higher, yen retreats US equity markets recorded another round of sizeable gains on Friday, with the likes of the S&P 500 (+1.32%) and the Dow Jones (+1.38%) establishing further distance above their respective 50-day moving averages. Meanwhile, [..]

Technical Analysis – USDCAD trades cautiously above one-month lows

Posted on January 21, 2019 at 8:08 am GMT

USDCAD gained little after its freefall to one-month lows, rising slightly above the 50% Fibonacci of the upleg from 1.2781 to 1.3663 to start consolidation. In the short term the pair could see some recovery as the RSI heads towards its 50-neutral mark, though as long as the indicator holds in negative territory, downside movements cannot be ruled out. The MACD continues to fluctuate below its red signal line, supporting that downside risks are still high as well. Should the [..]

Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]

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