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USDCAD

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European Session – Trump reflation trade in doubt again, dollar slightly down

Posted on February 24, 2017 at 4:34 pm GMT

Barring Canadian inflation data, US new home sales, and the final print of the University of Michigan consumer sentiment index there were no important economic data releases hitting the markets today. Market participants were for the most part digesting developments in the political scene and placing positions accordingly. The dollar has gained significantly on expectations of fiscal reforms by the Trump administration. However, US Treasury Secretary Steven Mnuchin’s latest comments on expecting tax reforms to start benefitting the economy next [..]

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Week Ahead – Busy week for US and Japan data; Trump Congress address also eyed

Posted on February 24, 2017 at 3:59 pm GMT

The United States and Japan will have the busiest calendars next week for economic data, while Australian growth figures and the Bank of Canada’s policy meeting will also come into focus. In other data, Eurozone flash inflation numbers should attract some attention too. But President Trump’s joint address in Congress could prove the biggest market mover if he outlines details on the much talked about tax reforms. Australian economy expected to rebound in Q4 After a surprise contraction in the [..]

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European Session – Dollar picks up ahead of FOMC minutes; yen outperforms; pound weighed by data

Posted on February 22, 2017 at 3:18 pm GMT

The US dollar was stronger against most major currencies except against the yen, which broadly outperformed. The euro was weak on French election jitters. The main focus of the markets was on the upcoming FOMC minutes. The euro hit a fresh one month low against the dollar at 1.0493 after dipping below the key 1.05 level for the first time in six-weeks. The single currency was pressured mainly by political developments rather than by economic data. Concerns over the upcoming French [..]

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Technical Analysis – USDCAD extends losses to approach critical 1.30 level

Posted on February 14, 2017 at 6:08 am GMT

USDCAD has been testing the 200-day moving average in the past three weeks. The immediate risk is to the downside, as RSI is trending down. The 50-day moving average is sloping down as well, suggesting the bias has shifted to the downside. The market is now approaching a critical area where important support levels are likely to be provided by the key 1.3000 level and the level at 1.3028, which is defined by the 50% Fibonacci retracement level of the [..]

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European Session – Euro and pound firmer as dollar slips back below 112 yen

Posted on February 8, 2017 at 4:08 pm GMT

Markets remained mired in risk-off mood in Wednesday’s European session as global uncertainty regarding Trump’s presidency, European elections, Brexit and the Greek debt crisis all weighed on risk sentiment. The US dollar found itself back below 112 yen as the Japanese currency benefited from safe-haven demand and the yields on US Treasury Notes fell. The greenback was struggling around 111.90 yen in late European session in the absence of any major data release out of the US today. The euro [..]

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European Session – Euro under pressure on French election concerns; Dollar stays mixed after NFP

Posted on February 6, 2017 at 4:02 pm GMT

The euro came under pressure on Monday as French election jitters led to a sell-off in French government bonds while the dollar was struggling for direction following Friday’s non-farm payrolls report. Uncertainty about the French election unsettled investors in European trading today as pressure grew on France’s conservative presidential candidate, Francois Fillon, to quit the race. It follows allegations that his wife was paid by the state for work she never did and comes amid ongoing strong support for the [..]

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Week Ahead – RBA and RBNZ meetings eyed in quiet data week

Posted on February 3, 2017 at 4:34 pm GMT

Central bank meetings in Australia and New Zealand will come into focus next week in an otherwise muted seven days for economic data. Industrial output and trade data from Germany and the UK will also be eyed, while Canadian employment figures will be watched too. Clouded outlook for RBA rates The Reserve Bank of Australia will meet on Tuesday for its first policy meeting of 2017. It is expected to keep rates unchanged at the current record low of 1.50% [..]

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European Session – Dollar bounces back on higher treasury yields, pushing euro and pound lower

Posted on January 26, 2017 at 4:28 pm GMT

The positive sentiment from the Dow Jones’ record break above the 20,000 level carried forward to Thursday’s European session, though risk appetite ebbed slightly in afternoon trading. European equities were mixed in late session, while 10-year US treasury yields rallied to a 4-week high. The higher yields spurred the US dollar to finally break out of the past day’s tight trading range, helping it climb above 114 yen. Investor concerns about Donald Trump’s policies on trade and immigration have been [..]

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European session – Sterling up after May agrees Brexit white paper; Dollar hits 7-week low

Posted on January 25, 2017 at 3:55 pm GMT

UK Prime Minister Theresa May said on Wednesday that she plans on producing a policy document (a so called ‘white paper’) for parliament outlining her proposals on how the Brexit process should take place. The news helped push sterling higher as it hit a near 6-week high against the dollar and a near 3-week high against the euro. In afternoon European session GBP / USD was last at 1.2563 (up 0.34%) and EUR / GBP at 0.8535 (down four-tenths of a [..]

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