All Articles Tagged - USDCAD

US Open Preview – Dollar index under pressure after Trump’s Fed criticism

Posted on August 21, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued to trade lower early in the European session, weighed by comments made by the US President late on Tuesday who said that he is “not thrilled” about the central bank’s decision to raise interest rates this year as his administration is making efforts to reduce trade deficit and higher interest rates combined with a stronger dollar would limit export growth. He also accused China and the Eurozone of manipulating their currencies; the response from the [..]

Canadian retail sales to spur speculation for two more rate hikes in 2018? – Forex News Preview

Posted on August 21, 2018 at 9:22 am GMT

Canada’s retail sales figures for June will be made public on Wednesday at 1230 GMT. The release is perhaps attracting additional attention in the aftermath of last week’s headline CPI beat out of Canada, which led to growing speculation for the delivery of two more rate hikes by the nation’s central bank in 2018. After growing by 2.0% m/m in May, its strongest since October 2017, retail sales growth is anticipated at 0.1% in June, reflecting a considerable easing compared [..]

European Open Preview – Trump comments weigh on dollar; Brexit updates eyed

Posted on August 21, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar was losing ground against six major currencies on Tuesday, building on yesterday’s losses after some overnight comments by US President Trump; he expressed displeasure with the Fed raising interest rates. STOCKS: The Dow Jones finished Monday’s trading up by 0.35%, while the S&P 500 and Nasdaq Composite edged higher by a bit more than 0.2% and slightly less than 0.1% correspondingly. In Asian markets, the Japanese Nikkei 225 added 0.1% and the [..]

US Open Preview – Euro weakens as Turkish risks remain in the background; attention on trade

Posted on August 20, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen continued to pare Friday’s losses, last seen at 110.62 (+0.13%), while the dollar index, which gauges the dollar’s strength versus six major currencies, was also in recovery mode, trading at 96.30 (+0.21%), helped by a weaker euro and pound. Euro/dollar was on the back foot at 1.1422 (-0.15%), after rising softly the past two days, with investors worrying that the political turmoil between the US and Turkey could weigh on the Eurozone’s banking sector. On Monday, the [..]

European Open Preview – Dollar rises with trade developments front and center

Posted on August 20, 2018 at 8:06 am GMT

Here are the latest developments in global markets: FOREX: The dollar was up by a bit less than 0.2% versus a basket of currencies on Monday. In the absence of major data releases, any updates on the Sino-US trade relationship, as well as any Turkey-related developments may act as the catalysts to steer the currency in either direction. STOCKS: The Dow Jones, S&P 500 and Nasdaq Composite finished Friday’s trading up by 0.4%, 0.3% and 0.1% respectively, with hopes for a more [..]

US Open Preview – Euro bounce fades; Canadian inflation prints pending

Posted on August 17, 2018 at 10:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar index – which gauges the greenback’s strength against six major currencies – remained negative (-0.10%), though it pared most of its earlier losses, aided by a return of risk-off tones in markets. Dollar/yen moved down by 0.33% and held below the bearish cross of the 20- and 40-day simple moving averages (SMAs). In the euro area, the annual inflation rate was confirmed at 2.1% in July, above June’s 2.0%. Euro/dollar [..]

European Open Preview – Risk appetite recovers amid trade optimism; Canadian inflation eyed

Posted on August 17, 2018 at 7:36 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a modest 0.11% on Friday, extending some of the losses it recorded in the previous session, pressured by a recovery in broader risk sentiment. Likewise, the Japanese yen retreated across the board yesterday as well. Meanwhile, the British pound still hovers near its recent multi-month lows, largely unable to draw support from strong UK data yesterday, as the uncertainty stemming from the Brexit negotiations is casting [..]

Technical Analysis – USDCAD stands above SMAs but with weak momentum in near term

Posted on August 17, 2018 at 6:32 am GMT

USDCAD continues to move higher after it formed a seven-week bottom at 1.2960 and successfully surpassed the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3072. Moreover, the pair climbed above the 20- and 40-simple moving averages (SMAs) in the daily timeframe, confirming the bullish picture. However, the RSI indicator and the MACD oscillator have both weakened in the positive area, with the former slightly sloping down above the 50 level. The latter is heading above its [..]

Canadian inflation data in focus as loonie hopes for NAFTA deal – Forex News Preview

Posted on August 16, 2018 at 2:51 pm GMT

Canada will be on the receiving end of inflation data for July on Friday, at 1230 GMT. Forecasts suggest the headline CPI rate remained unchanged, which would likely keep the Bank of Canada (BoC) on track to deliver at least one more rate increase this year and thereby, potentially benefit the loonie. Beyond economic data, any updates on the future of NAFTA will also be crucial for the currency, particularly following recent reports that a deal may be inching closer. [..]

US Open Preview – Pound shrugs off stronger retail sales as Brexit talks resume

Posted on August 16, 2018 at 11:15 am GMT

Here are the latest developments in global markets: FOREX: Investors continued to look for riskier assets early in the European session on hopes that US-Sino trade tensions could deescalate following Beijing’s willingness to hold trade talks with the US later in August. Dollar/yen inched up to 110.90 (+0.15%), while the dollar index which gauges the greenback’s strength against six major currencies turned slightly lower to 96.59 (-0.11%) as trade hopes shifted some demand towards the euro. Still, trade stats out [..]

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