All Articles Tagged - USDCAD

Technical Analysis – USDCAD rally eases below short-term downtrend line

Posted on October 12, 2018 at 6:32 am GMT

USDCAD has eased back down again after finding resistance at the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072. The price is paring some of the previous days strong gains and remains in a short-term bearish bias, despite that it stands above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. However, the technical indicators are suggesting for a possible upside movement as the MACD oscillator is trying to surpass the zero line and moves [..]

US Open Preview – Dollar cautious ahead of US CPI; Europe joins in global stock sell-off

Posted on October 11, 2018 at 11:14 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was barely moving around 112.22 after dropping to 111.95 early on Thursday as US 10-year Treasury yields weakened to 3.15% from 3.24% on Wednesday. Trade worries were also weighing on investors appetite despite China’s Commerce Ministry saying Beijing is open for dialogue with Washington. US CPI figures later today could bring fresh waves of volatility to the greenback (see below). The dollar index was struggling too at 95.32 (-0.20%) on the [..]

European Open Preview – Stocks crash as risk aversion reigns; US CPI and ECB minutes eyed

Posted on October 11, 2018 at 7:52 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by almost 0.2% against a basket of six major currencies on Thursday, extending losses from the previous session. The yen was the best performer, advancing against all its major peers as risk aversion took hold, amid sustained worries around the trade outlook and elevated bond yields. Meanwhile, commodity currencies were hammered lower in this environment, with the loonie being caught in the eye of the storm as oil [..]

US Open Preview – Brexit hopes hold pound up; US PPI in focus

Posted on October 10, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: The British pound unlocked fresh two-week highs against the US dollar at 1.3184 but it soon fell to 1.3136 after GDP growth readings out of the UK missed a forecast of 1.6% y/y, showing instead an expansion of 1.5%. July’s mark, though, was revised upwards, from 1.6% to 1.7%. Separately, manufacturing and construction outputs in August disappointed as well, driving industrial production back to the negative territory. The British trade balance [..]

European Open Preview – Fresh dose of Brexit optimism lifts pound; key UK data and US factory inflation coming up

Posted on October 10, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is fractionally lower on Wednesday (-0.06%), after finishing the previous session down as well, weighed on by a slight pullback in US bond yields. The British pound outperformed, as fresh media reports amplified optimism that a Brexit deal may be reached by next week. On the other hand, the euro surrendered ground across the board, even despite some soothing remarks by the Italian PM. STOCKS: Wall Street closed mostly in [..]

US Open Preview – Euro feels more pain as Italian stress weighs; bond yields hit fresh highs

Posted on October 9, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: The euro erased earlier gains to fall as low as 1.1435 (-0.50%), the lowest since August 20, as a potential clash between Rome and the EU over Italy’s spending plans looked unavoidable – especially after bitter comments by the Deputy Prime Minister, Matteo Salvini in Brussels on Monday. Meanwhile, Italy’s finance minister reiterated today that the deficit target for 2019 will be 2.4% of GDP, but also said that the government will take action if the yield spread widens. US [..]

European Open Preview – Yen stages comeback amid China & Italy concerns

Posted on October 9, 2018 at 7:41 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which tracks the greenback’s performance against a basket of six major currencies – inched up by 0.11% on Tuesday, extending the gains it recorded in the previous session. This was largely owed to a tumble in the euro, which holds the largest weight in this index by far, as concerns around Italy remained in the spotlight. The yen was the best performer among the major currencies, with investors [..]

US Open Preview – Yen recoups losses despite dollar strength; oil & gold on slippery road

Posted on October 8, 2018 at 12:07 pm GMT

Here are the latest developments in global markets: FOREX: With Japan being shut for the Health and Sports public day and risk-off sentiment strengthening amid trade uncertainties and political noises in the Eurozone, the Japanese yen managed to rebound, sending dollar/yen straight down to a 1 ½ -week low of 113.33 (-0.33%). Yesterday, the People’s Bank of China slashed the amount of cash banks must hold as reserves, stepping up efforts to set free some liquidity and thus boost growth in [..]

European Open Preview – Dollar unimpressed by jobs data; yuan softens as China opens stimulus taps

Posted on October 8, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is higher by 0.18% against a basket of six major currencies on Monday, recovering the modest losses it recorded in the previous session. The British pound posted notable gains after media reports suggested the EU is ready to offer the UK a “super charged” free trade deal. In China, the PBOC eased policy by cutting its reserve requirement ratios (RRR), triggering a tumble in the yuan. STOCKS: US markets were a [..]

US Open Preview – Dollar steady ahead of NFP; Brexit hopes support pound

Posted on October 5, 2018 at 12:12 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar held steady against the Japanese yen on Friday, as investors turned their attention to the monthly US Nonfarm payrolls report due later today. The pair was last trading around 113.87. The US dollar index, which tracks the dollar’s strength against six major currencies, was also flat around 95.76, set to complete the second consecutive green week. Turning to Brexit news, European Union Brexit negotiators see a deal with Britain in the near future, [..]

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