All Articles Tagged - USDCAD

European Open Preview – Risk-off tones boost the yen and weigh on equities; US jobs data front and center

Posted on October 5, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The dollar is practically flat against a basket of six major currencies on Friday. It retreated in the previous session, but still held close to its recent highs. The yen saw a round of gains, with dollar/yen falling back below 114.00 as investors turned defensive amid high bond yields, and signs that the US-China “cold war” may be entering a new phase. Meanwhile, the commodity-linked currencies continued to underperform, with the aussie [..]

US Open Preview – Dollar holds above 114 vs yen as US bond yields soar; US factory orders pending

Posted on October 4, 2018 at 12:08 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar retreated by 0.33% to 114.16 against the Japanese yen on Thursday after topping at 114.54 on Wednesday, the highest in 11 months. Following yesterday’s positive US data and hawkish comments from Federal Reserve Chairman Jerome Powell, US 10-year government bond yields spiked as high as 3.23% today, a level never seen since June 2011. Powell said that interest rates still have a long way to go to reach neutral levels, flagging that additional rate [..]

Canadian employment to bounce back in September; could seal October rate hike – Forex News Preview

Posted on October 4, 2018 at 8:52 am GMT

Employment numbers out of Canada, due at 12:30 GMT on Friday, will be investors’ next focus after the surprise deal over the weekend to upgrade NAFTA. With trade worries out of the way and an anticipated rebound in jobs growth in September, the Canadian dollar is set to extend its bullish streak, as expectations rise that the Bank of Canada will raise interest rates later this month. Net change in employment unexpectedly slumped in August, with 51.6k jobs being lost, [..]

European Open Preview – Dollar flexes its muscles to reach an 11-month peak versus the yen

Posted on October 4, 2018 at 7:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Thursday (+0.29%), extending the impressive gains it recorded in the previous session as US yields raced higher. The US currency touched a fresh 11-month high against the yen, buoyed by strong US data and confident remarks by Fed chief Powell. Meanwhile, the antipodean currencies underperformed, with both aussie/dollar and kiwi/dollar tumbling to fresh 2½-year lows. STOCKS: The Dow Jones (+0.20%) closed at a fresh record high for [..]

US Open Preview – Pound weaker after UK PM May’s conference speech

Posted on October 3, 2018 at 12:05 pm GMT

Here are the latest developments in global markets: FOREX: The common currency crawled up on Wednesday from six-week lows on news that the final version of Italy’s budget deficit could be less worse than originally reported. Government sources signalled possible reductions to the deficit targets in 2020, 2021, according to reports. Earlier today, retail sales in the Euro area dropped by 0.2% m/m in September from a downwardly revised 0.6% decline in the previous month, missing market expectations of a 0.2% gain. It was the second consecutive month of decrease in [..]

European Open Preview – Euro bounces on Italian news; sterling eyes PM May’s speech

Posted on October 3, 2018 at 7:45 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 – is lower by 0.20% on Wednesday. This is owed mainly to a recovery in the currency with the heaviest weight in this index, the euro, which bounced overnight following news that Italy is willing to compromise on its budget deficits from 2020 onwards. Elsewhere, the pound grinded lower during the Conservative Party Conference, with all [..]

US Open Preview – Euro, pound hit fresh lows; Powell’s speech awaited

Posted on October 2, 2018 at 11:58 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was trading bullish on Tuesday (+0.35%), posting 1-month highs at 95.70, while dollar/yen weakened to 113.76 (-0.15%) after an impressive rally towards the more than a 10-month high of 114.06 on Monday. The Canadian dollar, which surged to four-month highs yesterday in the wake of news that the US and Canada finally reached common ground over NAFTA, was slightly weaker today, with dollar/loonie inching up to 1.2834 (+0.20%). Note [..]

European Open Preview – Euro extends losses as Italian worries dominate

Posted on October 2, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar is up by 0.23% against a basket of six major currencies on Tuesday, looking set to post gains for the fifth session in a row. The loonie was an outperformer, with news that the US and Canada reached a new NAFTA accord lifting the risk premium on the currency. Meanwhile, the euro remains on the back foot, as Italy’s government appears adamant about sticking to its deficit target, setting the [..]

Week Ahead – After Fed, US jobs report to take centre stage; RBA next to set rates

Posted on September 28, 2018 at 11:53 am GMT

Markets will be looking to the September US jobs report for direction after a mostly unchanged dot plot chart by the FOMC this week failed to clear the fog for the 2019 rate outlook. Apart from the nonfarm payrolls report, monthly PMI readings out of China, the United Kingdom and the United States will also be important. In the central bank spectrum, the Reserve Bank of Australia will be the only major bank holding a policy meeting next week. Meanwhile, [..]

US Open Preview – Euro on slippery road; US core PCE inflation next in focus

Posted on September 28, 2018 at 11:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar maintained yesterday’s impressive rally against the Japanese yen, consolidating gains around 113.34 as the US confirmed a strong 4.2% q/q GDP growth in the second quarter, the highest since Q2 2016, signaling further rate hikes in the future. Monthly US durable goods orders printed a sharper increase in August than analysts thought, adding further spark to the greenback on Thursday. The dollar index head up to 95.28 (+0.41%) as the pound and [..]

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