All Articles Tagged - USDCAD

US Open Preview – Euro trades flat as Italy awaits EU’s verdict; European stocks in the red

Posted on October 23, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was trading weaker by 0.10% while dollar/yen failed to pierce the 113 round level and instead dived to 112.30 (-0.43%), as the yield on 10-year Treasuries dropped by 5 basis points to 3.14%. Meanwhile the US President promised to give the middle class a 10% tax cut yesterday, intensifying his campaign ahead of US midterm elections on November 6. Euro/dollar was flat at 1.1468 as investors awaited the EU to give an answer on the Italian draft budget later today. Pound/dollar was up by [..]

European Open Preview – Stocks pressured as risk aversion strikes back; EU to reject Italy’s budget

Posted on October 23, 2018 at 7:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Tuesday, albeit by only 0.10%, attempting to extend the gains it recorded yesterday. The yen is reigning supreme among the G10 currencies amid renewed risk aversion, while the antipodeans aussie and kiwi are underperforming. Meanwhile, the pound is consolidating losses from yesterday, and the euro is also retaining a soft undertone amid the poor risk appetite and fading relief in the Italian bond market. STOCKS: [..]

US Open Preview – Euro returns below 1.15 after Italy’s response; UK PM to speak in Parliament

Posted on October 22, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: Sterling was declining by 0.25% against the US dollar on Monday as uncertainties around the Irish border weighed on hopes that a Brexit deal is close ahead of the UK Prime Minister’s speech in the Parliament. Pound/yen was fairly steady, while euro/pound increased by 0.23%. Euro/dollar reversed earlier gains to trade at 1.1494 (-0.16%) after Italy’s Finance Minister backed the 2019 draft budget even after EU’s warning letter last week (see below). Dollar/yen traded [..]

European Open Preview – Euro bounces as Italian worries take a back seat; Brexit remains in focus

Posted on October 22, 2018 at 7:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by 0.17% against a basket of six major currencies on Monday, extending losses from Friday. Those losses came as the currency with the biggest weight by far in this index – the euro – rebounded, amid encouraging signals that the EU and Italy may manage to avert a full-fledged conflict over budget deficit rules. The British pound edged higher on hints the UK may be softening its [..]

US Open Preview – Euro ticks up despite EU’s Italy warning; loonie edges higher ahead of Canadian CPI

Posted on October 19, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The euro reached a new 10-day low at 1.1431 against the US dollar earlier on Friday after the European Commission sent a cautionary letter to Italy over the submitted draft of their budget plan. However, euro/dollar managed to pare its losses, rising by 0.10% to 1.1462 later in the day, while euro/yen improved as well, jumping by 0.23% on the day. Pound/dollar moved slightly higher by 0.09% earlier today after European Union negotiator Michel Barnier said that a [..]

Week Ahead – Central banks and US Q3 GDP in focus; BoC poised to raise rates

Posted on October 19, 2018 at 11:44 am GMT

Central bank meetings will take centre stage in the coming week as economic data will be in short supply. With four policy meetings lined up, comprising the European Central Bank, the Bank of Canada, the Riksbank and the Norges Bank, only the BoC is anticipated to take action next week. The preliminary reading of third quarter GDP growth in the United States will likely be the most highly awaited release of the week, followed by the October flash PMIs in [..]

European Open Preview – Italian worries haunt the euro; key Canadian data on the agenda

Posted on October 19, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a touch higher on Friday (+0.08%), adding to the gains it recorded in the prior session and looking set to end the week meaningfully higher. The pound was the worst performer on Thursday amid a lack of progress on Brexit and downbeat UK data, while the euro also took a hit as Italian budget concerns came back to the forefront. The yen outperformed as risk aversion dominated, but [..]

Technical Analysis – USDCAD touches 1-month highs; holds bullish bias in short-term

Posted on October 19, 2018 at 7:08 am GMT

USDCAD posted two strong green days this week to touch one-month highs at 1.3087 and is set for its third weekly gain today. Technically the pair could face further upside in the short-term as the RSI moves positively above its 50 neutral mark and the MACD strengthens above its red signal line and marginally above zero. In case the price heads north to beat yesterday’s peak of 1.3087, where the 50% Fibonacci of the downleg from 1.3385 to 1.2781 is [..]

US Open Preview – Pound regains ground despite retail sales weakness; offshore yuan at 2-month lows ahead of China’s GDP growth

Posted on October 18, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar ran to a new 1-week high against the Japanese yen earlier on Thursday after FOMC minutes from the September 24-25 policy meeting affirmed the prospect of additional rate hikes until the end of 2019. However, the pair eased by 0.18% soon after to trade at 112.47. The US dollar index reversed lower as well, last seen at 95.51 (-0.07%). British retail sales fell by 0.8% in September, posting a larger decline than the 0.4% [..]

Canadian inflation & retail sales on tap; BoC rate outlook eyed – Forex News Preview

Posted on October 18, 2018 at 9:42 am GMT

Canadian inflation and retail sales figures for September and August correspondingly will be hitting the markets on Friday at 1230 GMT. Barring a dramatic deviation from expectations, the data are unlikely to deter the Bank of Canada from hiking rates during its policy meeting next week. They can, however, affect the market’s perception on the steepness of the central bank’s rate path moving forward. Inflation as gauged by the consumer price index (CPI) is projected to exhibit zero growth on [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

USDCAD

XM Live Chat