All Articles Tagged - USDCAD

Canadian inflation data likely to add to dilemma for Bank of Canada – Forex News Preview

Posted on June 21, 2018 at 11:26 am GMT

Canada will see the release of monthly inflation and retail sales figures on Friday at 12:30 GMT. The data comes just under three weeks before the Bank of Canada holds its next policy meeting on July 11 when policymakers will ponder whether to raise interest rates for a second time this year. While strong numbers on Friday would boost rate hike expectations for next month, the Canadian dollar may struggle to find much support from the data amid a worsening [..]

US Open Preview – Pound posts fresh lows ahead of BoE rate decision; oil tumbles

Posted on June 21, 2018 at 10:57 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen lacked direction for a third day, moving sideways around 110.40 (+0.05%), while the dollar index hit a fresh 11-month high at 95.52 (%?), advancing on the back of a weaker euro and pound. Earlier in the day, US 10-year government bond yields had spiked to a 1-week high of 2.95% but they soon returned to 2.91%. Euro/dollar was in pain as trade uncertainties remained in the air, while in Italy, Eurosceptic Alberto Bagnai, was appointed as the [..]

European Open Preview – Dollar reaches new heights; Bank of England at the center of attention

Posted on June 21, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.3% higher on Thursday, touching a fresh high for 2018. Safe-haven currencies such as the yen and the Swiss franc are on the back foot, down by nearly 0.3% and 0.2% respectively against the greenback as trade concerns have moved to the background for now. Commodity-linked currencies like the loonie, aussie, kiwi, are also on the retreat, with the first two trading at one-year lows versus the dollar. [..]

US Open Preview – Sterling ticks down to fresh 7-month lows ahead of Parliamentary vote

Posted on June 20, 2018 at 11:55 am GMT

Here are the latest developments in global markets: FOREX: In the absence of key data releases, the dollar was trading flat against the safe-haven yen at 110.04 , while the dollar index was also steady at 95.07 as investors were eagerly waiting to see how the tit-for-tat game between China and the US will evolve. The euro continued to struggle for the second day, changing hands lower at 1.1557 (-0.26%), with the European Commission giving its final approval for tariffs to be imposed on imported US goods worth [..]

European Open Preview – Asian stocks gain as risk sentiment recovers; House of Commons votes on Brexit amendments

Posted on June 20, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower on Wednesday, though by less than 0.1%, giving back some of the gains it posted in the previous session as the currency with the most weight in the index – the euro – tumbled. The haven-perceived yen is also on the retreat, paring some of the gains it posted yesterday. STOCKS: Wall Street closed lower on Tuesday, amid fears over an escalating US-China trade spat and [..]

US Open Preview – Euro slips again as dovish Draghi reiterates conditional QE end

Posted on June 19, 2018 at 11:46 am GMT

Here are the latest developments in global markets: FOREX: During the early European afternoon, the dollar was pushing hard to recover losses made on the face of rising trade uncertainties as the US President was looking to impose additional trade tariffs on China, with dollar/yen inching up to 109.87 but remaining down on the day (-0.67%). The dollar index, though, which tracks the strength of the greenback against six major currencies managed to jump to an 11-month high of 95.26 (+0.47%) [..]

European Open Preview – Yen bulls return as trade frictions intensify; ECB Forum gathers attention

Posted on June 19, 2018 at 7:48 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 lower on Tuesday, though by less than 0.1%. Meanwhile, the Japanese yen is 0.8% higher against the dollar and nearly 1.0% stronger versus the euro, as signs of further escalation in trade tensions between the world’s two largest economies are diverting flows into safe-haven assets. STOCKS: US markets closed mostly lower on Monday, amid [..]

US Open Preview – Trade fears keep market bears around

Posted on June 18, 2018 at 11:41 am GMT

Here are the latest developments in global markets: FOREX: A trade war between the US and China, which could harm global trade, got nasty on Friday when China decided to apply a 25% tariff on several US imports (taking effect on July 6) as a response to an extra 25% tariff imposed by Washington on Chinese imports on the same day. Investors turned more cautious thereafter, pushing dollar/yen down to 110.45 (-0.19%) on Monday, while the dollar index which gauges the [..]

European Open Preview – Markets shrug off escalating trade tensions; Brexit also in the spotlight

Posted on June 18, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was higher by nearly 0.1% on Monday, staying close to the seven-month high it posted last week. The Canadian dollar was 0.15% higher against its US counterpart, trying to recover some of the oil-induced losses it posted on Friday, when it reached a one-year low. STOCKS: US markets closed lower on Friday in the aftermath of tariff announcements from both the US and China, though the magnitude of the downside moves [..]

Week Ahead – Central bank theme continues with BoE, SNB; OPEC to discuss output increase

Posted on June 15, 2018 at 1:34 pm GMT

The central bank theme will continue into the coming week as it’s the turn of the Bank of England and the Swiss National Bank to set monetary policy. Oil and energy stocks will also come into focus as OPEC and Russia meet to discuss whether to relax the oil output cap. It will be a quieter week for economic data, however, with Japanese inflation, flash Eurozone PMIs and New Zealand GDP likely to be the main headline grabbers. Loonie to [..]

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