All Articles Tagged - USDCAD

Week Ahead – US inflation & retail sales and Chinese trade numbers among next week’s highlights

Posted on January 5, 2018 at 1:56 pm GMT

The coming week will feature numerous important releases that definitely have the potential to lead to notable movements in forex markets, though it will lack a release of the magnitude of the US nonfarm payrolls report that hit markets during this past week. Among the highlights in the coming days will be Chinese trade data, eurozone unemployment figures, UK manufacturing output and US inflation and retail sales. Quiet week in Australia with building approvals and retail sales gathering attention The [..]

US Open Preview – Dollar stronger ahead of NFP report; European stocks drift higher

Posted on January 5, 2018 at 12:22 pm GMT

Here are the latest developments in global markets: FOREX: December’s preliminary inflation figures out of the Eurozone offered little to the euro as the price measures came in line with expectations on a yearly basis and slightly weaker relative to the month before. However, the region’s producer prices surprised to the upside, providing some support to the common currency, which consolidated near four-week highs versus the greenback. Euro/dollar parked at 1.2048 (-0.16%), while euro/yen climbed to a two-year high of 136.51 (+0.30%). Pound/dollar reversed gains from earlier in the day, retreating to 1.3540, with investors looking [..]

European Open Preview – Dollar subdued as US equities hit new highs; US jobs report dominates attention

Posted on January 5, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.1% higher during the Asian trading session Friday, after posting notable losses on Thursday. STOCKS: The three major US equity indices – Dow Jones, S&P 500, and Nasdaq Composite – closed at fresh records again yesterday, with the Dow finishing above the 25,000 milestone for the first time. Futures tracking the Dow, S&P, and Nasdaq 100 are currently in the green as well. This positive sentiment rolled over [..]

Technical Analysis – USDCAD turns more bearish after falling out of 2-month range

Posted on January 5, 2018 at 7:22 am GMT

USDCAD is looking weak after falling out of a 2-month range. Prices broke below key support at 1.2500 although appear to have stabilized for now just below this level. The daily RSI is in bearish territory but has turned neutral in the short term, very close to oversold levels. Looking at the bigger picture, USDCAD was trading in a range between 1.2680 and 1.2900 from late October to late December. Strong resistance was found at the Fibonacci retracement level at [..]

US Open Preview– Eurozone data push euro and stocks higher; ADP employment report in focus

Posted on January 4, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: Upbeat data on December’s composite PMI for the Eurozone published on Thursday lifted euro/dollar towards 1.2052 (+0.32%), reversing most of yesterday’s losses as the figures suggested a faster Q4 growth for the region. Pound/dollar also gained from better-than-expected survey data, rising to 1.3554 (+0.24%). The dollar, on the other hand, was in the backfoot against six major currencies at 91.95 (-0.23%) unable to gain further from Wednesday’s economic numbers and Fed meeting [..]

European Open Preview – Greenback regains some composure while US stock indices close at records; US ADP employment due

Posted on January 4, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar traded 0.1% lower against a basket of major currencies during the Asian trading session Thursday, after posting gains on Wednesday. STOCKS: All three major US equity indices (Dow Jones, S&P 500, Nasdaq Composite) closed at fresh record highs yesterday, buoyed by optimism around the US economy following strong data releases and a cheerful tone in the FOMC minutes. Futures tracking the Dow, S&P and Nasdaq 100 are currently [..]

Technical Analysis – USDCAD holds slightly above its 14-week low at 1.2500

Posted on January 3, 2018 at 1:31 pm GMT

USDCAD had a strong sell-off in the previous days following the downward retracement of the 1.2915 resistance level. The pair plunged to a new 14-week low near the 1.2500 strong psychological level during Tuesday’s session. It’s losing some downside momentum in oversold conditions in the 4-hour chart on the RSI and MACD indicators, but intraday bias remains bearish as long as the 1.2588 minor resistance holds. Moreover, the 100-simple moving average is ready to post a bearish crossover with the 50-SMA indicating for further losses in the [..]

US Open Preview – Euro loses ground but remains above $1.20; FOMC minutes awaited

Posted on January 3, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The dollar posted some gains to climb further above a 3½-month low versus a basket of currencies hit on Tuesday. The euro eased versus the greenback despite the release of positive jobs data out of Germany, while pound/dollar lost some ground following the release of construction PMI figures that came in below analysts’ expectations; the pair previously crossed above the 1.36 handle to record its highest since late September. STOCKS: European [..]

European Open Preview – Dollar slightly above 3½-month lows ahead of Fed minutes; sterling flirts with $1.36

Posted on January 3, 2018 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded slightly higher versus a basket of currencies after yesterday reaching its lowest since late September. The euro retreated a bit versus the dollar after trading around three-year high levels on Tuesday. STOCKS: Hong Kong’s Hang Seng was 0.1% higher, trading at its highest in a decade. Other major Asian indices were in the green, while Japanese markets were closed for a holiday. Euro Stoxx 50 futures were up [..]

European Open Preview– Dollar continues to tumble as commodities extend gains; Manufacturing PMIs in focus

Posted on January 2, 2018 at 8:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar traded lower against a basket of major currencies, with the dollar index touching a 3-month low. STOCKS: Asian markets started the year on a strong footing, with Hong Kong’s Hang Seng being up nearly 1.9%, while China’s CSI 300 was 1.40% higher, possibly boosted by the better-than-expected Chinese Caixin manufacturing PMI for December released earlier. In Japan, equity markets (Nikkei 225, Topix) will remain closed until Thursday. At 0732 [..]

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