All Articles Tagged - USDCAD

Technical Analysis – USDCAD bullish; attempts close above middle Bollinger line

Posted on March 29, 2017 at 7:17 am GMT

USDCAD is not much changed from where it started the day, while a successful close above the day’s open would mark the fifth consecutive day that the pair has done so. The short-term bias as depicted by the RSI is bullish as the indicator is at 56 after coming from neutral levels. The price failed to close above the middle Bollinger line -a 20-day moving average (MA)- in the previous days and the line, currently at 1.3393, could act as [..]

European Session – Dollar stable; FOMC officials, including Yellen, in focus

Posted on March 28, 2017 at 3:17 pm GMT

Currency markets were in consolidation mode for the most part during today’s European session trading with major currency pairs not much changed from the levels they closed yesterday. Better-than-expected consumer sentiment did allow the dollar to advance a bit relative to other currencies. The dollar index was little changed relative to where it started the day, but above the 99 level and yesterday’s low which marked one of the lowest levels for the index since Donald Trump won the US [..]

European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:04 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]

European Session – Euro rises above $1.08 after PMIs, dollar struggles on jitters ahead of US healthcare vote

Posted on March 24, 2017 at 4:03 pm GMT

The main focus of the markets was the healthcare bill in the United States, where the House of Representatives is set to vote on repealing and replacing Obamacare. With a lot of political wrangling within the Republican party that resulted in delaying the vote, US President Donald Trump announced yesterday he just wants to get on with the vote and proceed to more important legislation on tax reform and stimulus spending. The dollar has been little changed on the day, [..]

European Session – Dollar drifts lower ahead of US healthcare vote but pound up on strong retail sales

Posted on March 23, 2017 at 3:40 pm GMT

There was no reprieve for the US dollar today as the greenback continued to face steep selling pressure on growing doubts about the Trump administration’s ability to push through key legislation in Congress ahead of today’s vote on repealing Obamacare. The dollar was once again testing 111 yen in European trading, while the pound had another strong session, reclaiming the 1.25 level against the dollar after stronger-than-expected UK retail sales data. The debate in the US House of Representatives on [..]

European Session – Pound surges to 3-week high after UK inflation breaks BoE’s 2% target; Euro tests $1.08

Posted on March 21, 2017 at 3:01 pm GMT

The British pound was the best performing major currency in Tuesday’s European session as it was lifted from stronger-than-expected inflation data out of the UK. The euro was another star performer as it benefited from positive developments in the French presidential campaign, while the US dollar continued to drift lower. Annual inflation in the UK jumped to 2.3% in February, beating estimates of a milder increase to 2.1% from January’s 1.8%. This takes the headline rate to the highest since [..]

European Session – Pound slips on announcement of date to trigger Article 50

Posted on March 20, 2017 at 3:57 pm GMT

The US dollar index made some recovery during the European session after dipping to a six-week low of 100.02 in the Asian session. The antipodeans outperformed the greenback while the loonie was weaker today due to lower oil prices in the wake of the Baker Hughes oil rig count. The pound fell sharply on news of the Article 50 trigger date. In a relatively quiet day in terms of economic data releases, the main news of the day was the [..]

European Session – Dollar lacks momentum; G20 meeting on investors’ radar

Posted on March 17, 2017 at 4:10 pm GMT

Today’s European session was relatively quiet in terms of economic data with a few figures out of the US, including industrial output and the University of Michigan’s consumer sentiment survey, gathering most attention. Market participants are now preparing themselves for the G20 meeting that is to follow over the weekend. The dollar index, a measure of the greenback’s strength relative to the currencies of major trading partners to the US, was last slightly up for the day after rebounding from [..]

Week Ahead – RBNZ meeting eyed; Fed to remain under the spotlight as speakers lined-up

Posted on March 17, 2017 at 3:44 pm GMT

After an eventful week with central bank meetings and European elections, the next seven days will be relatively quieter. Inflation, retails sales and flash PMI estimates will be the dominant data theme, while central banks will continue to grab attention. The Reserve Bank of New Zealand will meet for its second policy meeting of the year and the Fed will find it hard to stay out of the headlines as key officials are scheduled to speak. UK retail sales to [..]

Investment Theme – Canadian dollar vulnerable to oil prices and US policies

Posted on March 16, 2017 at 3:59 pm GMT

The Canadian dollar has been range-bound due to various factors pulling it in different directions. The main risks to the loonie are oil prices and US President Donald Trump’s policies. Meanwhile the diverging monetary policies of the Bank of Canada and the Federal Reserve have weighed on the loonie. Some believe that the outlook for the Canadian dollar is dim mainly due to the widening gap in interest rates in the US and Canada as the Fed embarks on a [..]

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