All Articles Tagged - USDCAD

European Open Preview – Pound bulls unleashed; US jobs data in the spotlight

Posted on November 2, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index dropped significantly on Thursday and is a little lower on Friday too (-0.15%). The world’s reserve currency likely suffered as investors locked in profits on their prior dollar-long bets, ahead of the all-important US employment data today. Meanwhile, the British pound skyrocketed, gaining around 2% against the dollar, amid growing optimism that a Brexit deal is inching closer. The antipodeans aussie and kiwi also soared, probably as some [..]

Technical Analysis – USDCAD tumbles near 23.6% Fibonacci; bearish in medium-term

Posted on November 2, 2018 at 6:56 am GMT

USDCAD had a deep fall on Thursday challenging again the 23.6% Fibonacci retracement level of its long way up from 1.2060 to 1.3385, around 1.3072. Currently, the pair remains slightly above the 20- and 40-simple moving averages (SMAs) in the daily timeframe, but the risk is to the downside today as well. The technical picture supports that the range bound movement is likely to continue in the short-term. Looking at momentum indicators, the RSI is moving south and is approaching the neutral threshold of 50, [..]

US Open Preview – Pound cheers on Brexit optimism and BoE rate guidance

Posted on November 1, 2018 at 12:34 pm GMT

Here are the latest developments in global markets: FOREX: Pound pairs were trading notably higher early in the European session, benefiting on reports the EU and the UK have reached a tentative agreement to allow British financial services companies to have a continued access to European markets after Brexit. It should be kept in mind though that the UK’s Brexit negotiator said that “nothing is agreed until everything is agreed”. On the monetary policy front, all nine BoE policymakers voted to keep rates steady at 0.75%, while slightly lowering growth projections [..]

Canadian employment data eyed as BoC turns increasingly data dependent – Forex News Preview

Posted on November 1, 2018 at 9:58 am GMT

Employment numbers will be watched out of Canada on Friday at 12:30 GMT as investors are on the lookout for fresh rate clues after the Bank of Canada said it could move quicker in removing monetary stimulus. The BoC’s increased confidence on the rate outlook hasn’t transpired to a stronger Canadian dollar, however, as market pricing of future rate hikes hasn’t shifted dramatically, according to overnight index swaps. Jobs growth is anticipated to have slowed in October, following a 63.3k [..]

European Open Preview – Sterling soars on news of Brexit services deal, ahead of BoE policy decision

Posted on November 1, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down by a little more than 0.4% on Thursday, looking set to post its first daily decline in four sessions. The British pound, and to a lesser extent the euro, benefited from reports that UK financial services firms will continue to have access to EU markets after Brexit. Meanwhile, the antipodeans aussie and kiwi outperformed, likely lifted by the broader improvement in risk sentiment, as well as fresh [..]

US Open Preview – Euro slips to 2 ½-month lows despite encouraging inflation signs; stocks bounce higher

Posted on October 31, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: Euro/dollar printed a 2 ½-month low at 1.1330 on Wednesday despite eurozone’s flash core inflation rate inching up to 1.3% y/y in October, from 1.2% expected, and 1.1% seen in September. The headline inflation print remained unchanged at 2.2% y/y, at the strongest since 2012, but buying interest was subdued as concerns over the Italian budget battle as well as uncertainty about how political conditions would unfold in Germany after Chancellor Merkel leaves the office in 2021, brushed funds out of the market. [..]

European Open Preview – Dollar soars to 1½-year highs; eurozone flash inflation eyed

Posted on October 31, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to a fresh high last seen in June 2017 against a basket of six major currencies, as risk sentiment was reinvigorated. The pound was the worst performer, as ratings agency S&P warned of a recession in case of a no-deal Brexit. The defensive yen was the second-worst performer in the face of stronger risk appetite. Meanwhile, the aussie is on the back foot on Wednesday, giving back some of [..]

US Open Preview – Dollar gains ground as euro and pound underperform; BoJ rate decision awaited

Posted on October 30, 2018 at 12:26 pm GMT

Here are the latest developments in global markets: FOREX: Eurozone’s initial GDP growth estimate for the third quarter was rather disappointing, clocking in at 1.7% y/y, the lowest since Q4 2017. On a quarterly basis, expansion unexpectedly slowed to 0.2%, from 0.4% previously. Consumer confidence was confirmed at -2.7 in October, not far above the 1 ½ -year low of -2.9 reached in September. Yet investors’ mood didn’t deteriorate significantly in the wake of the data, even under rising political noises in [..]

European Open Preview – Markets bounce as Trump hints at “great deal”; eurozone GPD and German inflation coming up

Posted on October 30, 2018 at 8:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.17% against a basket of six major currencies on Tuesday, building on the gains it posted yesterday as risk appetite deteriorated and investors sought the safety of the world’s reserve currency. The defensive yen surprisingly underperformed despite the general risk-off mood on Monday. Meanwhile, the aussie and kiwi are both notably higher on Tuesday as risk sentiment seems to have reversed, following hints from President Trump that [..]

US Open Preview – Euro weighed by German politics; dollar green versus yen ahead of core PCE inflation

Posted on October 29, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was standing at 112.13 (+0.23%), slowly recouping losses recorded on Friday, while the dollar index was moving sideways around 96.41 ahead of the US core PCE inflation index due later today. Euro/dollar was fluctuating weak around the 1.1400 mark (+0.08%) after Merkel’s Conservatives (CDU) won regional elections in the Western state of Hesse on Sunday, but with surprisingly small support. The coalition SPD partners performed even worse, leading them to question [..]

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