All Articles Tagged - USDCAD

European Open Preview – Dollar flat as US GDP-related gains prove short-lived; US core PCE index due

Posted on October 29, 2018 at 8:41 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was flat after giving up earlier gains following Monday’s Asian trading and most major pairs were close to the levels they closed on Friday. The dollar index was trading around 96.15, well off Friday’s high of 96.62. One currency that was managing to significantly gain against the greenback was the kiwi by nearly 0.6%. STOCKS: Markets were mixed on Monday, following the equity sell-off of the previous week. US index [..]

Week Ahead – US jobs report and Eurozone GDP eyed amid growth fears; BoJ and BoE meet

Posted on October 26, 2018 at 12:57 pm GMT

After a turbulent week for global stocks, attention should shift back to currency markets over the next seven days as a barrage of important economic data are on the agenda, along with more central bank meetings. The latest nonfarm payrolls report from the US and the first print of third quarter GDP growth for the Eurozone will be the biggest attractions. Other highly anticipated releases will include inflation numbers from Australia, the Eurozone and the United States, the Canadian employment [..]

US Open Preview – Stocks remain in the eye of risk-off storm; US GDP on tap

Posted on October 26, 2018 at 11:23 am GMT

Here are the latest developments in global markets: FOREX: The Japanese yen is by far the best performer among the major currencies on Friday, with the session being characterized by broad-based risk aversion thus far. Dollar/yen (-0.40%) is trading just a few pips below the 112.00 handle, while euro/yen (-0.61%) touched a fresh two-month low, as investors sought the safety of the Japanese currency. The dollar is also on the front foot ahead of the release of US GDP data, [..]

European Open Preview – No love for euro despite steady ECB; US GDP growth eyed

Posted on October 26, 2018 at 7:52 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is little changed on Friday (-0.06%), holding on to the gains it recorded yesterday. Although there wasn’t anything new out of the US, the greenback capitalized on weakness in the euro and sterling (see below), touching fresh two-month highs against both. Meanwhile, the safe-haven Japanese yen is outperforming today, as the recovery in risk sentiment seen yesterday appears to have been short-lived. Consequently, the commodity-linked currencies (aussie, kiwi, [..]

Technical Analysis – USDCAD rallies to create new highs; touches short-term downtrend line

Posted on October 26, 2018 at 6:35 am GMT

USDCAD continues to rise above the 20- and 40-simple moving averages (SMAs) as well as above the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072, remaining below the short-term descending trend line for the moment. According to the stochastic oscillator, positive momentum could push for further gains in the daily chart as the indicator is picking up steam and is ready to create a bullish crossover within the %K and %D lines. The RSI is also advancing, above the threshold of 50, indicating [..]

US Open Preview – Euro rises softly ahead of ECB rate announcement; equities show some recovery

Posted on October 25, 2018 at 11:22 am GMT

Here are the latest developments in global markets: FOREX: The euro was slowly rising versus the US dollar (+0.15%) below 1.1500 on Thursday ahead of the European Central Bank (ECB) interest rate decision later in the day, where the Bank is expected to keep policy unchanged but is likely to give some growth hints. The pair pared some losses after sliding to a fresh 2-month low of 1.1377 on Wednesday. Earlier in the day, the German Ifo business climate index for October dropped [..]

European Open Preview – Equity selloff accelerates; ECB meeting in the spotlight

Posted on October 25, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar is down by 0.21% against a basket of six major currencies on Thursday, giving back some of the gains it posted yesterday, when it capitalized on weakness in the euro. Meanwhile, the defensive yen recovered early losses on Wednesday to finish the session as the second-best performer, as the stock sell-off accelerated. The best performer was the loonie, which soared after the Bank of Canada (BoC) raised rates and [..]

US Open Preview – Euro, pound among the worst performers; May’s speech and BoC rate decision in focus

Posted on October 24, 2018 at 11:49 am GMT

Here are the latest developments in global markets: FOREX: The British pound and the euro were among the worst performing major currencies in early European session on Wednesday, losing around 0.60% against the greenback. Pound/dollar hit a fresh 1 ½-week low at 1.2898 before the UK Prime Minister Theresa May meets with her Conservative Party lawmakers later today (see below). The European Council President, Donald Tusk, said he would call for a November summit, which was previously cancelled by EU leaders, [..]

European Open Preview – Risk aversion takes a breather; BoC to raise rates

Posted on October 24, 2018 at 8:14 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is nearly flat on Wednesday (+0.05%), consolidating the modest losses it posted yesterday. The defensive yen outperformed amid fragile market sentiment, though it has stabilized somewhat today. In the UK, the pound jumped higher on reports the EU may offer a UK-wide customs arrangement, but pared most of its gains on speculation PM May is likely to face a mutiny soon. In Canada, the loonie ignored a sharp [..]

Will the Bank of Canada deliver a “dovish hike”? – Forex News Preview

Posted on October 23, 2018 at 1:20 pm GMT

The Bank of Canada (BoC) is nearly certain to raise interest rates by 25bps when it announces its decision on Wednesday, at 1400 GMT. Such a move is virtually fully priced in already and hence, price action in the loonie will hinge mainly on what signals the Bank sends regarding the likelihood of further hikes going forward. Following a marked slowdown in wages, policymakers may prefer to err on the side of caution for now, which renders the loonie vulnerable [..]

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