All Articles Tagged - USDCAD

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:44 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

Forex Market Review (European Session) – Dollar holds onto gains vs yen as Trump Fed decision awaited; euro slips

Posted on October 23, 2017 at 2:42 pm GMT

The US dollar held on to most of its Asian session gains in European trading on Monday as the yen remained weak after Abe’s landslide victory in Japan. The euro slipped further into losses as the stand-off between Madrid and the Catalan authorities intensified, while sterling also lost ground amid worries about the British economy. The yen maintained its broad weakness against most major currencies following Japanese prime minister Shinzo Abe’s election win on Sunday, which signalled policymakers in the [..]

Week Ahead – ECB tapering decision looms; BoC also meets; UK and US GDP eyed

Posted on October 20, 2017 at 4:13 pm GMT

The European Central Bank will take centre stage next week as it announces its long-awaited decision to scale back its asset purchase program. Central banks in Canada, Sweden and Norway will also be holding their monetary policy meetings. On the data front, the first estimate of third quarter growth in the UK and the US will be in focus. Other major data will include Japanese and Australian inflation and Eurozone PMIs. Japan’s Abe’s election gamble likely to pay off Recent [..]

Forex Market Review (European Session) – Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:38 pm GMT

As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. The dollar index managed to pick up by 0.34% on the day, reaching a two-day high of 93.54 during the session as the Senate’s approval of the 2018 budget [..]

Forex Market Review (Asian Session) – Dollar faces tailwinds on 2018 fiscal budget approval; kiwi plummets as economic risks grow

Posted on October 20, 2017 at 7:55 am GMT

The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House of Representatives after the Republican-controlled Senate voted in favor of the 2018 fiscal budget yesterday which would add $1.5 trillion to the federal deficit over the next [..]

Technical Analysis – USDCAD maintains bearish market structure; makes corrective move to consolidate around 1.25

Posted on October 20, 2017 at 6:16 am GMT

USDCAD maintains a bearish market structure as the pair continues to trade below the 200-day moving average. Looking at the short-term, prices made a corrective move higher after bouncing from 1.2061 and are currently consolidating around the 1.25 handle. Immediate support is being provided by the 50-day MA, currently at 1.2438. Breaking below this level would target the September 8 low at 1.2061. Another leg lower would increase downside pressure and bring a resumption of the broader downtrend, with scope to reach [..]

Forex News – Preview – Canadian inflation and retail sales data eyed before BoC meeting

Posted on October 19, 2017 at 12:30 pm GMT

Inflation and retail sales numbers out of Canada on Friday will be scrutinized for clues to a possible year-end rate hike by the Bank of Canada, following recent remarks from BoC Governor Stephen Poloz that suggested a pause after two consecutive hikes. The Canadian dollar has rallied by over 7% against its US counterpart this year as growth in the country has exceeded expectations, prompting the central bank to raise rates by a total of 50 basis points to 1.00%. [..]

Forex Market Review (Asian Session) – Eyes on Chinese communist party conference; loonie, Mexican peso jump as NAFTA talks extend

Posted on October 18, 2017 at 7:54 am GMT

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the Canadian dollar and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy [..]

Forex Market Review (European Session) – Pound steady ahead of May’s Brussels meeting; euro posts moderate losses after Puigdemont misses deadline

Posted on October 16, 2017 at 3:22 pm GMT

With Fed chair Janet Yellen being confident that inflation measures will move towards the Fed’s 2% target in the upcoming months and business conditions improving the most in three years in October according to a survey conducted by the New York Fed, the dollar index managed to gain 0.12% on the day, climbing to a 5-day high of 93.36. Dollar/yen stood flat around 111.81. Meanwhile, in the fiscal policy front, a tax analysis released by the Trump administration on Monday [..]

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