All Articles Tagged - USDCAD

Forex News – Trump tax plan fails to lift markets; dollar pulls back

Posted on April 27, 2017 at 1:33 pm GMT

The US Treasury Secretary, Steven Mnuchin, yesterday announced the much-anticipated details on one of President Trump’s main election campaign pledges to cut taxes for businesses and individuals. Dubbed by Mnuchin as “one of the biggest tax cuts in history”, the tax plan provided few surprises as much of the details had already been circulating in the media in the prior days. The main highlights of the tax plan are simplifying income tax by cutting the number of tax brackets from [..]

FX Daily Outlook | 27-04-17

Posted on April 27, 2017 at 9:23 am GMT

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Forex Market Review (Asian Session) – Dollar lower after Trump tax plan outline disappoints; euro steady ahead of ECB

Posted on April 27, 2017 at 7:38 am GMT

US Treasury yields turned lower and the dollar trimmed recent gains versus the yen, helping gold recover from a two-week low. US President Donald Trump made his tax plan announcement on Wednesday, which was viewed as lacking in detail, prompting a fall in the 10-year US Treasury yield to 2.30%, moving off a two-week high of 2.35% reached on Wednesday. Against the yen, the dollar is lower from the near one-month high of 111.77 yen hit on Wednesday, trading just [..]

Forex Market Review (European Session) – Euro eases from highs; dollar steady ahead of Trump tax plans

Posted on April 26, 2017 at 3:02 pm GMT

The euro eased back from its earlier highs in Wednesday’s European session, while the US dollar largely held on to its gains as the market’s attention shifted to the much-anticipated announcement on tax reforms by the US Treasury Department. After two days of solid gains, the euro succumbed to profit taking as it pulled away from the 5½-month high of 1.0950 touched earlier in the day to ease to around 1.0880 dollars in late European session. Another factor driving the [..]

Technical Analysis – USDCAD pauses rally to dip back below 1.3600; bullish bias remains

Posted on April 26, 2017 at 12:33 pm GMT

USDCAD paused its rally after hitting a 14-month high of 1.3625. Prices moved back below the key 1.3600 level today. The short-term market structure remains bullish and the technical indicators are giving bullish signals. The market is above both the 50 and 200-day moving averages. RSI and MACD are in bullish territory. However, RSI has reached overbought levels at 70 which suggests some consolidation in the near term is likely, given the sharp rise in USDCAD recently. Only a break [..]

Forex Market Review (European Session) – Euro still buoyed by Macron win; Loonie under pressure from Trump

Posted on April 25, 2017 at 3:01 pm GMT

Markets remained in risk-on mood in European trading on Tuesday with the euro nudging further upwards against most of its major peers, while the safe-haven yen extended its declines. European and US equities also continued to make gains on the back of Sunday’s French election result where the centrist Emmanuel Macron became the frontrunner to win the second round on May 7. The euro was pushing towards fresh highs against the US dollar as it powered ahead to hit a [..]

FX Daily Outlook | 25-04-17

Posted on April 25, 2017 at 9:00 am GMT

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Forex Market Review (Asian Session) – Euro steady while yen and gold ease; Canadian dollar weakens

Posted on April 25, 2017 at 7:51 am GMT

The euro remained steady, near five-month highs against the dollar, while the yen and gold retreated as the outcome of the French elections dampened demand for safe havens. Markets shrugged off North Korean artillery drills carried out today to mark the 85th anniversary of the Korean People’s Army. Currency markets were relatively quiet during Asian trading due to a lack of key economic data releases as well as a public holiday in Australia and New Zealand, which left investors to [..]

Forex Market Review (European Session) – Euro slips ahead of French vote; sterling hit by disappointing UK retail sales data

Posted on April 21, 2017 at 2:51 pm GMT

Sterling tumbled after UK retail sales data significantly missed expectations on all counts. The euro slipped despite stronger PMIs as French elections loom. The safe haven yen was supported against a backdrop of event and geopolitical risk. Cable dipped below the key $1.2800 level in response to a disappointing UK retail sales report. Month-on-month retail sales fell 1.8% in March after a 1.7% increase in February. The headline figure came in at 1.7% year-on-year versus the 3.4% forecast. The quarterly [..]

Forex Market Review (European Session) – Dollar moderates Trump-driven losses after upbeat US jobless claims data

Posted on April 13, 2017 at 3:11 pm GMT

The dollar index against major currencies regained the key 100 level and the greenback’s losses against the yen that occurred after US President Donald Trump’s comments yesterday, have moderated. Late on Wednesday the President said the dollar is getting too strong and makes American goods more expensive overseas. Geopolitics was still also on the minds of investors today but their nervousness has somewhat abated. Some US data releases today briefly shifted investors’ focus away from concerns about North Korea, Syria, [..]

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