All Articles Tagged - USDCAD

European Open Preview – Yen retreats ahead of key events; UK manufacturing output coming up

Posted on June 11, 2018 at 7:50 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is lower on Monday, though by less than 0.2%. The euro is higher across the board, as some encouraging remarks from Italy’s new finance minister helped to calm markets. Meanwhile, the yen is on the back foot amid subsiding European political risks, and as investors position for the several events this week will bring. [..]

US Open Preview – Investors look for safe havens ahead of G7 summit

Posted on June 8, 2018 at 11:56 am GMT

Here are the latest developments in global markets: FOREX: Despite optimism that the ECB will end its QE program by the end of this year, the euro went downhill on Friday against its US counterpart as appetite for riskier assets eased on fears trade tensions could heighten if the US and its G6 partners fail to reach agreement on a joint statement at today’s meeting in Quebec, Canada. The pair also lost ground after German trade numbers indicated a narrower trade surplus in the biggest EU economy, with euro/dollar crawling down to 1.1748 (-0.41%) after [..]

European Open Preview – Dollar little changed as risk appetite takes a hit; G7 summit eyed for clues on trade outlook

Posted on June 8, 2018 at 7:48 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is up by a little over 0.1% on Friday, recovering some of the losses it posted in previous sessions. The euro is a touch softer following several days of advances, while the safe-haven Japanese yen is under buying pressure, extending the gains it posted yesterday as risk appetite took a hit. STOCKS: US equity [..]

Technical Analysis – USDCAD supported by 50.0% Fibonacci; next immediate resistance 1.3050

Posted on June 8, 2018 at 6:35 am GMT

USDCAD is still holding above the simple moving averages in the daily timeframe over the last couple of weeks signaling that the pair is ready for more bullish extension. Also, the price remains above the 50% Fibonacci retracement level of the downleg from 1.3800 to 1.2060, around 1.2925 and challenged several times the 1.3050 resistance level in the past, which is acting as strong resistance level. Looking at the short-term chart, based on technical indicators, momentum is too weak to provide a sustained move [..]

Loonie looks next at employment data for direction – Forex News Preview

Posted on June 7, 2018 at 2:51 pm GMT

The weekend after Trump decided to impose tariffs on steel and aluminum imports from Canada, Mexico, and the EU, the Bank of Canada’s Governor, Stephen Poloz, returned to his more cautious style, saying that the central bank will use its data-dependent approach to adjust monetary policy. The statement also came a couple of days after the central bank’s rate statement laid the ground for further monetary tightening this year, with investors now turning focus to upcoming employment data to verify whether [..]

US Open Preview – Dollar takes the back seat as euro, pound move forward

Posted on June 7, 2018 at 11:16 am GMT

Here are the latest developments in global markets: FOREX: The euro kept shining during the early European afternoon as yesterday’s comments by ECB officials raised speculation that the central bank was preparing to exit its quantitative program by the end of this year, with the announcement probably coming as soon as next week. Euro/dollar managed to peak at a fresh three-week high of 1.1837 before it fell to 1.1815 (+0.39%), being the best performer among its major peers. Against the yen, [..]

European Open Preview – Euro rebound rejuvenated as ECB teases taper; revised eurozone GDP numbers due

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

Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% lower on Thursday, extending the losses it posted in the previous session as the euro continued to recover. The euro’s rebound was refueled by some ECB policymakers, who signaled their confidence in the economic outlook, and heightened speculation that an end-date for the QE program could be announced as soon as next week. STOCKS: Wall Street closed higher on Wednesday, shrugging off the mounting uncertainties around global [..]

US Open Preview – Euro up as ECB officials see end of QE

Posted on June 6, 2018 at 11:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar unlocked a fresh two-week high of 110.14 (+0.31%) against the Japanese yen early in the European afternoon as another round of data released yesterday enhanced once again optimism on the US economy despite trade risks hanging in the background. The dollar index, though, which gauges the strength of the dollar versus six major currencies was down on the day at 93.68 (-0.23%) thanks to the rising euro and pound. Euro/dollar [..]

European Open Preview – Euro recovery refueled by ECB speculation; trade developments continue to dominate attention

Posted on June 6, 2018 at 7:49 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is trading 0.1% lower on Wednesday, looking set to post its third consecutive day of declines. The euro continued to recover amid speculation around an ECB QE announcement coming sooner rather than later, while the Canadian dollar went for a ride following mixed signals on NAFTA. STOCKS: Major US indices closed mixed yesterday, with the tech-heavy Nasdaq Composite and the S&P 500 climbing by 0.41% and 0.07% respectively, [..]

US Open Preview – Pound wins on services PMI; oil down ahead of US oil inventories

Posted on June 5, 2018 at 11:44 am GMT

Here are the latest developments in global markets: FOREX: The British pound was the best performer during the early European afternoon, trading 0.55% higher against the dollar on the day at 1.3387 after the UK’s services PMI reading rose more than expected. This was also perceived as a sign of economic strength that could persuade BoE policymakers to raise interest rates in August. Versus the Japanese yen, sterling picked up by 0.44% to 146.80. On the other hand, an upward revision to previous Eurozone retail sales figures didn’t [..]

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