All Articles Tagged - USDCAD

European Open Preview – Dollar falls though not by much; all eyes on Powell

Posted on February 27, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was down by around 0.15% as market attention was firmly on Fed chief Jerome Powell’s testimony before Congress. STOCKS: The Japanese Nikkei 225 and Topix indices rallied to finish the day higher by 1.1% and 0.9% respectively, pushing Japanese equities to their highest in three weeks. Hong Kong’s Hang Seng, however, traded lower by 0.8%. At 0810 GMT, futures tracking the major European indices were broadly in the [..]

US Open Preview – Dollar broadly weaker ahead of Powell’s testimony; Stoxx 600 hits 3-week high

Posted on February 26, 2018 at 12:33 pm GMT

Here are the latest developments in global markets: FOREX: The dollar remained broadly weaker against a basket of currencies, with markets eagerly awaiting Jerome’s Powell congressional testimony for positioning on the US currency moving forward. Euro/dollar was 0.3% up and pound/dollar traded higher by 0.5%, hitting a 10-day high of 1.4069 earlier on Monday. Sterling was supported by hawkish-perceived comments by BoE Deputy Governor Dave Ramsden over the weekend, as well as the Labour party’s support for a customs union [..]

Week Ahead – Markets look to Powell testimony for Fed guidance; Japan and US data to dominate

Posted on February 23, 2018 at 4:52 pm GMT

Economic data from Japan and the United States will comprise the bulk of next week’s releases. Australia, Canada, the Eurozone and the United Kingdom will also see important data releases. But the main focus will be on Fed Chair Jerome Powell’s first semi-annual testimony before Congress. Anxious market participants will be seeking clarity on Fed policy as stock markets are still reeling from the sharp sell-off in early February, while the dollar continues to defy rising US yields by showing [..]

US Open Preview – Euro pressured by political uncertainties; Canadian inflation in focus

Posted on February 23, 2018 at 11:43 am GMT

Here are the latest developments in global markets: FOREX: Euro/dollar was under pressure during early European trading, trading lower at 1.2302 (-0.22%) as uncertainties in the political front loomed in the background ahead of the Italian general election and the German’s polls on whether Merkel’s Conservatives will formally lead the government under a coalition agreement with their former coalition partners, the SPD. Pound/dollar jumped to an intra-day high of 1.3993 (+0.14%). on hopes that the Bank of England would raise interest rates faster than [..]

European Open Preview – Dollar looks to Fed speakers for direction; eurozone and Canada release inflation numbers

Posted on February 23, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.4% higher on Friday, recouping some of the losses it posted earlier on Thursday. Kiwi/dollar was a notable mover as well, tumbling 0.6% despite stronger-than-expected data out of New Zealand overnight. STOCKS: US markets were mixed on Thursday, providing yet another sign that investors’ risk sentiment remains quite fragile still. The Dow Jones closed 0.7% higher, but the S&P 500 was barely in the green, rising a mere [..]

Technical Analysis – USDCAD heads higher but struggles below 38.2% Fibonacci mark

Posted on February 23, 2018 at 7:47 am GMT

USDCAD climbed sharply above the 1.2685 level during Thursday’s trading session and posted a new 2-month high near 1.2755. However, the price ended the day slightly above its opening level and struggled below the 38.2% Fibonacci retracement level of the down-leg with the high of 1.3800 and the low of 1.2060. The technical indicators now support that the short-term bias is bullish. Looking at the daily timeframe, the 20-simple moving average posted a bullish crossover with the 40-SMA, suggesting a [..]

US Open Preview – Euro edges up ahead of ECB meeting minutes; European stocks ease

Posted on February 22, 2018 at 12:27 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index deviated below ten-day highs reached earlier in the day, but remained 0.12% up on the day, last seen at 90.07. Yesterday, the FOMC meeting minutes spurred hopes that the Fed will hike rates four times this year, giving some lift to the dollar. Dollar/yen was struggling to gain ground, trading at 107.23 (-0.44%) as the weakness in stock markets continued to falter on the pair, with investors looking [..]

European Open Preview – Dollar recovery gains momentum after Fed minutes; UK GDP and ECB minutes due

Posted on February 22, 2018 at 8:49 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was 0.2% higher on Thursday, adding to the notable gains it posted yesterday on the back of the Fed minutes from the January meeting, which were quite upbeat. The greenback moved in tandem with US Treasury yields that surged across the board in the aftermath of the minutes, to reach fresh multi-year highs. STOCKS: US markets took a hit from the Fed minutes, as speculation for faster rate [..]

Canadian inflation pressures seen abating – Forex News Preview

Posted on February 21, 2018 at 4:22 pm GMT

Canadian retail sales and figures on consumer prices will go public this week but based on forecasts, inflation pressures are not seen warming up yet as both retail sales and inflation are expected to slow down instead. Taking this into account and considering the Bank of Canada’s data dependent policy approach, additional rate hikes are likely to come later than sooner. On Thursday at 1330 GMT, Statistics Canada will report on retail sales for the month of December. On a monthly basis, retail sales are said [..]

European Open Preview – Dollar continues to recover ahead of Fed minutes; eurozone PMIs & UK employment data in focus

Posted on February 21, 2018 at 8:55 am GMT

Here are the latest developments in global markets: FOREX: The dollar index was nearly 0.2% higher on Wednesday ahead of the release of the FOMC minutes, extending the notable gains it posted yesterday. STOCKS: US equity markets closed lower on Tuesday. The Dow Jones fell the most, closing 1.0% lower, while the S&P 500 declined by 0.6%. The Nasdaq Composite retreated as well, but by less than 0.1%. The volatility index (VIX) also moved up, suggesting that the recent turmoil in equity [..]

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