All Articles Tagged - USDCAD

European Session – Markets look to Trump press conference for direction; dollar edges higher

Posted on January 11, 2017 at 3:22 pm GMT

Major currencies see-sawed in their recent trading ranges, with the US dollar edging upwards ahead of the much anticipated press conference by Donald Trump later in the day. The President-elect is due to hold his first press conference since his election win at around 1600 GMT where he is expected to provide some clarity on his policies. Investors will be particularly interested in his trade and economic policies given much talk about a fiscal stimulus and import tariffs. The dollar [..]

European Session – Dollar struggles for direction in subdued trading

Posted on January 10, 2017 at 3:51 pm GMT

Currency markets were muted in European trading today as the absence of major data and investor angst about US President-elect’s press conference on Wednesday led to more cautious trading. The US dollar see-sawed around the 116 yen level while the euro was unable to hold above $1.06 by late European trading. Market concerns about what Donald Trump might reveal about his policies, particularly on trade, tax cuts and relations with China when he holds his first press conference since the [..]

European Session – Dollar erases gains but pound steadies as hard Brexit fears linger

Posted on January 9, 2017 at 4:23 pm GMT

The yen saw increased demand in Monday’s European session, leading the US dollar to give up its earlier gains against the Japanese currency. Other currencies also lost ground against the yen, particularly the British pound, which has been hit today by fresh concerns of a hard Brexit following comments by UK PM Theresa May over the weekend. Softer US treasury yields helped the yen higher in late European trading, with the dollar slipping back below 117 yen to around 116.35 [..]

European Session – Dollar attempts a rebound in muted holiday trading

Posted on December 29, 2016 at 3:54 pm GMT

Currency markets were subdued on Thursday as volumes remained light with just one more trading day left before the end of the year. The US dollar moved away from the two-week lows it touched against the yen earlier in the day, while the euro and the pound managed to hold on to key levels. With little in terms of new data to excite the markets, US treasury yields continued to be the main driver of the dollar. Treasury yields came [..]

FX Daily Outlook | 29-12-16

Posted on December 29, 2016 at 10:53 am GMT

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Asian Session – Dollar pulls back against yen on weak data, BoJ summary

Posted on December 29, 2016 at 9:04 am GMT

The US dollar slipped to two-week lows against the yen in Thursday’s Asian session as a combination of disappointing US homes sales numbers and a relatively upbeat summary of opinions by the Bank of Japan drove the greenback below 117 yen. The euro rebounded back above 1.04 dollars, while commodity-linked currencies also made modest gains. An unexpected drop in pending home sales in the United States in November raised concerns about the possible impact of rising interest rates on the [..]

European Session – Dollar nudges upwards in holiday lull; Gold and oil also up

Posted on December 27, 2016 at 4:34 pm GMT

Major currencies were largely steady in today’s European session as volumes remained low despite most markets reopening after the Christmas break. Key markets such as London, Sydney and Hong Kong stayed closed on Tuesday, explaining the absence of many traders. The US dollar was the main gainer in European trading, though gold and oil also stood out. The greenback hit a session high of 117.61 yen, recovering from yesterday’s brief dip below the 117 level. The US currency got a [..]

European Session – Dollar mixed in thin trade ahead of long holiday weekend

Posted on December 23, 2016 at 4:36 pm GMT

The US dollar struggled for momentum in Friday’s European session as volumes thinned out ahead of the long Christmas holiday weekend. Data showing that consumer confidence in the United States climbed to an 12-year high in December was unable to prevent the dollar from slipping against the yen in late session. The University of Michigan’s consumer sentiment index was revised from 98.0 in December’s preliminary reading to 98.2 in the final release – the highest since 2004. Expectations were for [..]

European Session – Dollar and loonie slip on disappointing data; Euro climbs to 1-week high

Posted on December 22, 2016 at 4:23 pm GMT

The US dollar broke out of its tight range in late European trading following soft US consumer spending figures, which spurred the euro to a one-week high. Economic data out of the United States and Canada dominated afternoon trading in Europe today in an otherwise lacklustre session as traders began emptying their desks ahead of the Christmas holiday weekend. The euro jumped higher versus the dollar, hitting a one-week high of 1.0499, on the back of the dollar’s slide. There [..]

Technical Analysis – USDCAD turns bullish to target 1.35

Posted on December 19, 2016 at 9:17 am GMT

USDCAD turned bullish after rising from the key 1.3100 area. The pair’s decline from highs above 1.3500 soon found support just above the 200-day moving average. Following a brief dip below 1.3100, prices rose to a high of 1.3416 last week (December 15) but then USDCAD levelled off as the 50-day moving average acted as a barrier to further upside moves. Consolidation is expected in the near term as momentum has faded and the RSI has flattened around the 50-point [..]

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