All Articles Tagged - USDCAD

European Open Preview – Euro drops on ECB optionality; US Q2 GDP on the radar

Posted on July 27, 2018 at 7:37 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – was practically unchanged on Friday, after it posted considerable gains in the previous session. The surge came as the currency with the heaviest weight in that index by far – the euro – tumbled following the ECB policy meeting. STOCKS: US markets closed mixed yesterday, as an 18.96% plunge in Facebook’s share dragged down the tech-heavy [..]

Technical Analysis – USDCAD slips below 23.6% Fibonacci; bearish correction is possible

Posted on July 27, 2018 at 6:40 am GMT

USDCAD remains under pressure as it holds below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to 1.3385, around 1.3073. Moreover, the price plummeted below the 20- and 40-simple moving averages (SMAs) on Wednesday in the daily timeframe, indicating for a possible bearish correction. From the technical point of view, the momentum indicators seem to be negative and the market could ease a little bit more in the short-term. The RSI indicator is in negative territory after declining sharply [..]

US Open Preview – ECB meeting front and center; yen bulls return

Posted on July 26, 2018 at 11:00 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was down by 0.08% on Thursday, extending the losses it posted in the previous session following the meeting between European Commission President Jean-Claude Juncker and US President Donald Trump. The two agreed to lower industrial tariffs and increase US natural gas and soybean exports to Europe. Also, they decided to harmonize regulatory standards to allow for medical devices to have better access in Europe. Dollar/yen is one of the [..]

European Open Preview – Stocks rally on US-EU accord; all eyes on ECB

Posted on July 26, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – is down by 0.27% on Thursday, extending the notable losses it posted in the previous session as trade tensions faded. The euro is little changed as traders await the main event of the day; the ECB policy meeting. The yen, meanwhile, is up across the board today amid continued speculation for a hawkish tilt by [..]

US Open Preview – Trade tensions in focus as Juncker meets Trump

Posted on July 25, 2018 at 11:10 am GMT

Here are the latest developments in global markets: FOREX: The greenback and the single European currency barely moved on Wednesday before a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker. The talks come after the US imposed tariffs on EU steel and aluminum and Trump’s recent threats to extend those measures to EU-made cars. Dollar/yen continued the bearish movement and slipped by 0.05% near 111.14, while euro/dollar jumped slightly above 1.1700 (+0.08%). The US dollar index dropped by 0.13% [..]

European Open Preview – Pound rebounds as May takes over Brexit; Juncker-Trump meet

Posted on July 25, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is fractionally lower on Wednesday (-0.04%), after posting some marginal losses in the previous session as well. Pound/dollar is up by 0.16%, looking set to extend the gains it posted yesterday after UK PM May announced she will be taking over the Brexit negotiations personally. STOCKS: Wall Street closed mixed on Tuesday. While the Dow Jones (+0.79%) and the S&P 500 advanced (+0.48%), the tech-heavy Nasdaq Composite gave back some notable gains [..]

US Open Preview – Dollar eases ahead of US Markit PMIs

Posted on July 24, 2018 at 11:11 am GMT

Here are the latest developments in global markets: FOREX: The US dollar is showing modest losses versus most currencies. The greenback continued to weaken against the Japanese yen on Tuesday, as dollar/yen fell by 0.15%, approaching the 111.00 psychological level. The US dollar index fell marginally by 0.04%, giving back the gains that it had posted earlier in the day. Preliminary PMI survey data indicated that the eurozone economy lost momentum in July. The IHS Markit composite PMI fell to 54.3 from [..]

European Open Preview – Yen grinds higher amid BoJ speculation; eurozone PMIs in the spotlight

Posted on July 24, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index advanced higher on Monday, recovering some of its Trump-induced losses as a solid rise in US bond yields increased the currency’s appeal. Heightened expectations for a very strong US GDP print for Q2, due out on Friday, may have supported the move. The yen also grinded higher, as speculation continued to mount that the Bank of Japan may alter its policy in a more hawkish direction as soon as at [..]

US Open Preview – Euro trades flat ahead of Eurozone consumer confidence index

Posted on July 23, 2018 at 11:39 am GMT

Here are the latest developments in global markets: FOREX: The US dollar edged sharply lower over the last three straight days against the Japanese yen as the movements were based on reports the Bank of Japan (BOJ) is discussing changes to its monetary policy, including changes in interest rates and stock buying techniques. The 10-year yield in Japan climbed as much as six basis points to 0.090%, hitting the highest level since February. Dollar/yen continued the bearish move today as well, losing 0.25%. However, the US dollar index [..]

US Open Preview – Dollar reacts little on fresh trade threats; Canadian CPI & retail sales pending

Posted on July 20, 2018 at 11:34 am GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading lower against the Japanese yen on Friday, though by not much, at 112.40 (-0.07%) remaining below the 1-year high of 113.15 reached on Thursday as investors kept in mind Trump’s criticism made on Thursday about higher US interest rates and a stronger dollar. Renewed US trade warnings against China today did little to move the pair (see below). The dollar index against a basket of currencies moved down by 0.05% after the bounce off the 1-year [..]

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