All Articles Tagged - USDCAD

Technical Analysis – USDCAD downfall continues; pair posts 2-week low

Posted on April 13, 2017 at 10:26 am GMT

USDCAD is on its sixth straight day of declines, recording a more than two-week low during today’s trading as well. The pair is currently eyeing the 200-day moving average while yesterday it fell below the 50-day one. Adding to the bearish short-term bias is the RSI indicator, which rapidly fell to a level well below the 50 neutral mark at 38. Moreover, looking at the stochastics, the %K line dipped below the slow %D line and entered into bearish territory. [..]

Forex Market Review (European Session) – Loonie jumps after Bank of Canada raises growth forecast; sterling up after UK jobs report

Posted on April 12, 2017 at 2:41 pm GMT

Geopolitical concerns continued to dominate the markets but demand for safe haven assets somewhat eased slightly during the European session, with the yen and gold trimming some gains. Risk aversion helped support the yen, gold and US Treasuries, as investors demanded safety due to uncertainty over possible US military action against Syria and North Korea. Market participants await more details about the meeting between US Secretary of State Rex Tillerson and Russian Foreign Minister Sergei Lavrov. Gold prices were flat but [..]

Forex Market Review (European Session) – Dollar down despite 4-week high earlier in the day; upbeat housing data boost the loonie

Posted on April 10, 2017 at 2:47 pm GMT

Today’s European session was lacking any major economic releases as only the Sentix survey measuring Eurozone investor morale and housing starts out of Canada gathered some attention. Beyond those, recent geopolitical developments played a role in today’s movements as well. The dollar index was down one-tenth of a percent during late European session trading. The index, a broad gauge of dollar strength versus the currencies of major US trade partners, rose to a near four-week high of 101.34 earlier in [..]

Forex Market Review (European Session) – Dollar rebounds after closer look at latest job report; Pound slides to nine-day low

Posted on April 7, 2017 at 3:36 pm GMT

The highlight of the day in terms of data was the US jobs report but other developments on the geopolitical front, namely the US attack in Syria, also shaped market behavior during today’s European session trading. The dollar was stronger for the day relative to the euro and sterling but slightly weaker versus the Japanese currency in late European session trading. Dollar / yen hit an eleven-day low of 110.12 in Asian trading as news of a US missile launch [..]

FX Daily Outlook | 06-04-17

Posted on April 6, 2017 at 8:53 am GMT

[..]

Technical Analysis – USDCAD continues climbing; price above 50- and 200-day moving averages

Posted on April 6, 2017 at 7:19 am GMT

USDCAD is currently slightly up from the day’s open while it closed higher in the previous eight out of ten trading days. Additionally, the pair recorded a three-week high two days ago (April 4). Adding to the positive short-term bias are the RSI and MACD indicators. Specifically, RSI is at 61, comfortably above 50, its neutral-perceived level. The MACD histogram is above zero as well as above the red signal line. The April 4 high of 1.3455 could act as [..]

Forex Market Review (European Session) – Yen benefits by risk-off sentiment; dollar index gains

Posted on April 4, 2017 at 3:05 pm GMT

Today’s European session was relatively light in terms of data releases, with US factory orders and trade figures out of the US and Canada, as well as Eurozone retail sales being among the economic releases attracting attention. Beyond these, the strengthening of the yen was indicative of the market’s tilt towards risk aversion. Yesterday’s terror attack in St Petersburg, in conjunction with the uncertainty surrounding the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping, taking place [..]

Forex Market Review (European Session) – Eurozone CPI disappoints; dollar flat

Posted on March 31, 2017 at 3:48 pm GMT

Market participants had a lot of information to digest in terms of economic releases as, among others, the day saw the release of final UK GDP data for the fourth quarter of 2016, Eurozone flash inflation estimates for March and US personal consumption expenditure (PCE) figures for the month of February. The greenback, as measured from the dollar index, was flat in late European session trading. Still the US currency had an otherwise strong week and should the dollar pick [..]

Forex Market Review (European Session) – Weaker euro after German inflation misses estimates; Q4 US GDP revised upwards

Posted on March 30, 2017 at 2:45 pm GMT

The final estimate of fourth quarter GDP and jobless claims out of the US, as well as March German inflation and data pertaining to sentiment in the eurozone economy, including consumer confidence, were released today. Besides economic releases, the dollar was again edging higher today. The dollar index, which gauges the greenback’s strength relative to six major US trade partners, continued climbing today, though moderately. The index is partly pushed higher due to the dollar gaining momentum versus the euro, [..]

Investment Theme – Commodity currencies struggle on faltering Trumpflation trade

Posted on March 29, 2017 at 9:59 am GMT

The pullback in the US dollar over the past two weeks has brought little relief to commodity-linked currencies, as their resilience against the resurgent greenback had been underpinned by the Trumpflation trade, which came close to being fully unwound this week. Currencies such as the Australian, New Zealand and Canadian dollars have come under pressure in the past week on fears that the reflation trade inspired by Trump has come to an end. Market expectations that Donald Trump’s presidency would [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

USDCAD

XM Live Chat