All Articles Tagged - USDCAD

US Open Preview – Bad day for the pound as May’s future hangs in balance; dollar capitalizes

Posted on November 15, 2018 at 1:03 pm GMT

Here are the latest developments in global markets: FOREX: Although the British Cabinet approved the EU-UK divorce terms agreed between the sides on Tuesday, the deal threw British politics into chaos as Theresa May faces a possible vote of no confidence. Opposition to May’s Brexit plans is growing as the Brexit Secretary Dominique Raab as well as a few other ministers decided to resign on Thursday, expressing in that way their opposition to the deal struck. The news fuelled strong doubts [..]

European Open Preview – Sterling stays volatile as UK Cabinet approves deal; US & UK retail sales due

Posted on November 15, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is little changed on Thursday (+0.07%), after posting some modest losses in the previous session. The British pound traded in a particularly volatile manner amid Brexit headlines, with the UK Cabinet giving its endorsement to the Brexit deal. Meanwhile, the aussie is the best performing currency among the majors today, following upbeat employment data out of Australia overnight. STOCKS: US markets remained under selling pressure on Wednesday, with financials underperforming [..]

US Open Preview – Pound awaits Cabinet Brexit meeting; Powell’s speech in focus

Posted on November 14, 2018 at 12:39 pm GMT

Here are the latest developments in global markets: FOREX: Questions about whether the UK Parliament would ever accept the draft divorce deal approved by the UK and the EU on Tuesday derailed investors’ mindset early in the European session, and ahead of a Cabinet meeting later today. While forecasts are for the Cabinet to accept the agreement, investors think that the Parliament will vote against it, especially if the deal involves an extension of the transition period beyond 2020. Pound/dollar slid to 1.29 before [..]

European Open Preview – Pound soars on Brexit deal, eyes PM May’s cabinet meeting and inflation data

Posted on November 14, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is lower by 0.2% on Wednesday, extending its losses from the previous session, which came mostly due to a recovery in the pound and euro. Sterling in particular soared after the EU and UK were reported to have reached a Brexit deal. Elsewhere, the loonie touched a fresh four-month low versus the dollar amid collapsing oil prices. STOCKS: The Dow Jones (-0.40%) and the S&P 500 (-0.15%) closed slightly lower [..]

US Open Preview – Euro slightly up before Italy’s budget deadline; Oil in the red

Posted on November 13, 2018 at 12:36 pm GMT

Here are the latest developments in global markets: FOREX: Three-month average earnings including bonuses grew by 3.0% y/y in September in the UK, while the ex-bonus measure jumped by 3.2% y/y versus 3.1% expected. The pound, though, showed little reaction to the data as the unemployment rate inched up by 0.1 percentage points to 4.1%. Still, pound/dollar managed to spike to 1.2961 before a pullback to 1.2944 (+0.86%) after government sources supported that a Brexit deal is closer now than [..]

European Open Preview – Dollar, yen bolstered amid risk aversion; UK employment data coming up

Posted on November 13, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar is flat against a basket of six major currencies on Tuesday, holding on to the sizeable gains it recorded in the previous session, when it touched a fresh 17-month high. The yen was the second-best performer to start the week, behind the dollar, amid broad-based risk aversion in markets that fueled demand for defensive assets. Meanwhile, the euro underperformed even the pound, with euro/sterling increasingly becoming a function of which [..]

US Open Preview – Dollar index registers fresh highs as pound and euro struggle; oil holds up

Posted on November 12, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was overperforming early in the European session on Monday as political uncertainties in Europe and strong optimism on the US economy, persuaded traders to invest more in the greenback despite Trump’s Republicans losing control of the House of Representatives last week. The dollar index gained 0.60% to rise as high as 97.57, a level never seen since June 2017. Dollar/yen spiked to a five-week high of 114.20, but it soon returned to 113.91, near [..]

European Open Preview – Dollar sails past 16-month highs; Brexit and Italy cast shadows on sterling and euro

Posted on November 12, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to fresh 16-month highs against a basket of six major currencies on Monday, building on its gains from Friday, even without any fresh catalyst or news out of the US. Instead, the greenback seems to be taking advantage of softness in the pound and euro, amid Brexit and Italian uncertainties respectively. Elsewhere, the commodity-linked currencies retreated, with the loonie feeling the brunt of the pain as oil prices [..]

US Open Preview – Pound drops momentarily below 1.30 on Brexit woes; oil set for fifth weekly loss

Posted on November 9, 2018 at 1:03 pm GMT

Here are the latest developments in global markets: FOREX: The British economy expanded by 1.5% y/y in the third quarter as expected, preliminary data showed. The UK’s trade deficit narrowed, and the manufacturing output was slightly better than forecast in September. However, the evidence on business investment was disappointing and today’s discouraging Brexit headlines were enough to push pound/dollar straight down to 1.2988 before a reversal to 1.3035 (-0.15%). Particularly, capital expenditures decreased by 1.2% q/q in Q3 compared to a 0.2% expected rise, printing the biggest loss since Q1 2016. [..]

European Open Preview – Dollar cruises higher after FOMC; UK GDP in the spotlight

Posted on November 9, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is little changed against a basket of six major currencies on Friday (+0.06%), consolidating the gains it recorded in the previous session as the Fed signaled it remains on track to meet its rate-path projections. Meanwhile, the defensive yen is outperforming, as risk appetite seems to have soured once again. In Canada, the loonie continued to track oil prices lower, touching a fresh two-month low against the dollar. STOCKS: Wall Street [..]

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