All Articles Tagged - USDCAD

Bank of Canada said to deliver a rate hike but risks hang – Forex News Preview

Posted on January 16, 2018 at 4:57 pm GMT

Just two weeks after the start of the new year, the Bank of Canada will be the first in line to decide on monetary policy and as forecasts suggest the central bank will likely go with another rate hike. Some could say, though, that now is not the best time for Canada to welcome higher rates given the complicated situation of the NAFTA talks and the country’s overloaded household debt. But this is not the big question. Instead, investors wonder [..]

European Open Preview – Dollar in recovery mode; UK inflation in the spotlight

Posted on January 16, 2018 at 8:51 am GMT

Here are the latest developments in global markets: FOREX: The dollar managed to recover a part of the previous days’ losses against a basket of currencies that saw it eventually fall to a three-year low during Monday’s trading. STOCKS: The Japanese Nikkei 225 and Topix indices added 1.0% and 0.55% to close at their highest since 1991. Hong Kong’s Hang Seng was up by 1.3%, trading at decade-high levels. Euro Stoxx 50 futures were flat at 0731 GMT, with Dow, [..]

European Open Preview – Dollar remains on defensive; euro exceeds $1.22 on ECB tightening expectations

Posted on January 15, 2018 at 8:50 am GMT

Here are the latest developments in global markets: FOREX: The US currency was on its fourth straight day of declines, with the dollar index falling to its lowest in three years as other majors were boosted on hopes of policy normalization on behalf of their respective central banks. The Chinese currency recorded a two-year high versus the greenback as the PBOC altered its rate fixing to the dollar. STOCKS: The Japanese Nikkei 225 closed 0.3% higher even as the yen [..]

Week Ahead – Bank of Canada ponders raising rates again; Aussie eyes jobs data and China GDP

Posted on January 12, 2018 at 5:07 pm GMT

The Canadian and Australian dollars will be in focus next week as the Bank of Canada holds its first monetary policy meeting of the year, while Australian employment and Chinese growth figures will test the aussie’s recent bull run. Other highlights will include inflation data out of the UK and the Eurozone. But the US will see a quieter week in terms of economic releases. China’s economy likely slowed in Q4 China will be the first major economy to report [..]

European Open Preview – Euro jumps on ECB minutes; US CPI & retail sales on the horizon

Posted on January 12, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded marginally lower on Friday, extending the notable losses it posted on Thursday on the back of weaker-than-expected US producer price data and a stronger euro. STOCKS: Asian markets were mixed. Japan’s Nikkei 225 and Topix indices traded lower by 0.2% and 0.6% respectively, but Hong Kong’s Hang Seng index climbed 0.8%, trading at its highest since late 2007. In Europe, futures tracking the Euro Stoxx 50 were 0.3% up. [..]

Technical Analysis – USDCAD tests key 1.25 level; neutral in short-term

Posted on January 12, 2018 at 7:13 am GMT

USDCAD remains weak following a drop below the key 1.2700 level and out of a 2-month range. In the near-term, the pair has a firmer undertone after making a recovery off 3-month lows and is now testing 1.2500 which is seen as a strong support level. The odds for a sustained rebound are low at the moment. RSI is still in bearish territory below 50 and USDCAD is capped by the 100-day moving average at 1.2590. The recovery back above [..]

US Open Preview – Excluding antipodeans, greenback remains in the green; US jobless claims & producer prices in focus

Posted on January 11, 2018 at 12:18 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained in the green relative to most majors though it – for the most part – gave up on a portion of gains made earlier in the day. The dollar index traded 0.1% higher at 92.45. The antipodean currencies were the ones advancing notably relative to the greenback, tracking fresh multiweek highs versus the US currency. Aussie/dollar was 0.3% up, after previously touching 0.7886, a level last reached [..]

European Open Preview – Dollar trips on China-related reports but recovers; eurozone IP and ECB minutes eyed

Posted on January 11, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded slightly higher during the Asian trading session Thursday, after experiencing heightened volatility on Wednesday. The index initially took a dive on reports that China is considering to slow or cut its US bond purchases, but managed to recover its losses to trade virtually unchanged in the following hours. STOCKS: Asian markets were mostly in the red today, with Japan’s Nikkei 225 and Topix indices closing 0.3% and [..]

Technical Analysis – USDCAD drops to 3-month low; eases after strong sell-off

Posted on January 8, 2018 at 11:09 am GMT

USDCAD plummeted almost 1% in the previous two trading days and this weakness has taken the price to a fresh three-month low of 1.2354. The pair has seen a strong sell-off since the aggressive bearish run started on December 19. In the daily timeframe, significant obstacles have been broken, such as the consolidation area of 1.2590 – 1.2915, the 38.2% and 50.0% Fibonacci retracement levels of the last big up-leg with the low at 1.2060 and the high at 1.2915, as well as the 1.2450 barrier, which was acting [..]

European Open Preview – Dollar recovers following decline caused by NFP; eurozone retail sales due

Posted on January 8, 2018 at 8:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index traded 0.2% higher during the Asian trading session Monday, recovering the losses it posted on Friday following the slightly softer-than-anticipated US employment report. STOCKS: In Asia, Hong Kong’s Hang Seng was up 0.2% while China’s CSI 300 was 0.5% higher. Meanwhile, Japanese equity markets remained closed today for the Coming of Age holiday. In Europe, futures tracking the Euro Stoxx 50 are currently up by 0.4%. The three major [..]

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