All Articles Tagged - USDCAD

European Session – Pound fluctuates on Supreme Court ruling; Loonie jumps on pipeline deal

Posted on January 24, 2017 at 4:41 pm GMT

The pound see-sawed in today’s European session as the British currency saw volatility both before and after the Supreme Court’s ruling on the triggering of Article 50. The US dollar recovered from earlier lows, while the Canadian dollar surged after Donald Trump approved the construction of a major pipeline from Canada to the United States. The greenback struggled for upwards momentum on Tuesday as it attempted to move away from multi-week lows. The dollar index pared most of its losses [..]

European Session – Markets steady ahead of Trump’s inauguration; Oil rallies ahead of compliance meeting

Posted on January 20, 2017 at 4:16 pm GMT

Currency markets were relatively calm in Friday’s European session as global attention turns to President-elect Donald Trump’s inauguration ceremony in Washington. Investors will be eagerly watching for further clues on Trump’s economic policies in his inauguration address as much uncertainty remains over whether the new administration will implement many of the pledges made during the election campaign. The greenback fluctuated around 115 yen for much of the session, having recovered from its Asian session low of 114.53 to peak at [..]

European Session – Euro tests $1.06 as Draghi plays down threat from rising inflation

Posted on January 19, 2017 at 4:02 pm GMT

The euro came under pressure on Thursday as ECB President Mario Draghi played down any immediate risks from the recent pick-up in inflation across the Eurozone. The US dollar meanwhile continued to advance higher following yesterday’s hawkish remarks by Fed Chair Janet Yellen, and the pound was also back in demand. As widely expected, the European Central Bank held its three key interest rates unchanged today at its first policy meeting of the year. In addition, the Bank kept the [..]

Forex News – Bank of Canada does not rule out rate cut amid Trump trade war threat and stronger loonie

Posted on January 19, 2017 at 2:39 pm GMT

The Bank of Canada announced on Wednesday that it is holding its overnight target rate at 0.50% at its first policy meeting of the year. The decision was in line with most economists’ forecasts and was accompanied with a slightly more upbeat growth outlook. In its quarterly monetary policy report, the Bank upped its growth forecast for 2016 from 1.1% to 1.3% and for 2017 from 2.0% to 2.1%. The higher growth is expected to come from increased household consumption [..]

FX Daily Outlook | 19-01-17

Posted on January 19, 2017 at 10:00 am GMT

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European Session – Pound slips back despite strong jobs data; Dollar attempts modest rebound

Posted on January 18, 2017 at 4:22 pm GMT

The US dollar recorded some gains against its major peers today following the previous days’ major losses. Indicative of the strengthening dollar was the rise in the dollar index to 100.63 in late European session, from 100.33 the previous day. Cable was down 0.8% at 1.2314 after strengthening by more than 3% in yesterday’s trading. The euro was down roughly a quarter of a percent at 1.0682 dollars, while dollar/yen was up by two-thirds of a percent at 113.34 after [..]

European Session – Sterling attempts to move away from 32-year lows; Dollar struggles to cling onto 114 yen

Posted on January 16, 2017 at 4:18 pm GMT

The British pound was attempting a rebound in today’s European session after the currency opened sharply lower today on newspaper reports on Sunday that the UK Prime Minister will signal a ‘hard Brexit’ in her speech tomorrow. Growing fears that the UK government is prepared to abandon the EU single market drove the pound to as low as 1.1986 dollars earlier in the day, making it the lowest since 1984 if October’s flash crash is excluded. British PM, Theresa May, [..]

European Session – Dollar makes late rebound despite retail sales miss; euro hits 2-month high versus pound

Posted on January 13, 2017 at 3:59 pm GMT

A late comeback by the US dollar led to a sharp reversal in most major pairs in an otherwise quiet session on the week’s last trading day. The greenback made an unexpected move upwards despite disappointing retail sales numbers out of the US today, with some analysts attributing this to a short squeeze. US retail sales came in lower-than-expected in December, and ‘core’ retail sales were particularly concerning. On the headline level, the month-on-month growth in December came in at [..]

Week Ahead – China GDP, ECB meeting and May’s Brexit speech in focus

Posted on January 13, 2017 at 2:29 pm GMT

The coming week will be a busier one for financial markets as key data releases and central bank meetings get underway. GDP figures out of China and the European Central Bank’s policy meeting will be the highlights but the biggest headline grabber could be the much-awaited speech on Brexit by British Prime Minister, Theresa May. Also coming up next week is the World Economic Forum in Davos, Switzerland on January 17-20, though major central bank heads appear to be giving [..]

European Session – Dollar steadies around 114 yen; Euro hits one-month high on ECB QE split

Posted on January 12, 2017 at 4:08 pm GMT

The slide in the US dollar continued to lift other currencies to multi-week highs in today’s European session as investors shun the greenback after Donald Trump failed to offer any new insight on his policy direction. The dollar index fell to a one-month low of 100.72 as the greenback sank against most currencies. Against the yen, the dollar hit a one month low of 113.75 yen at the start of European trading before rebounding to around 114 yen in late [..]

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