All Articles Tagged - USDCAD

Daily Market Comment – Euro perks up, fends off steadier dollar amid growing ECB rate hike talk

Posted on April 21, 2022 at 8:46 am GMT

Euro extends gains as ECB policymakers increasingly in favour of raising rates soon Dollar mixed despite higher Treasury yields; yen settles around 128 per dollar US and European stock futures edge up after Tesla earnings beat, China slips ECB rate hike chatter buoys euro The euro is gaining traction on Thursday, extending this week’s rebound to flirt with the $1.09 level, as investors ratchet up their bets that the European Central Bank is getting closer to hiking rates soon. Several [..]

US Open Note – Wall Street opens higher; commodity currencies outperform

Posted on April 20, 2022 at 2:02 pm GMT

Global stocks cautiously up Wall Street started Wednesday’s session on the bullish side, with Dow Jones gaining the biggest traction. Buying interest, however, remains relatively constraint as questions about how the cocktail of inflation and monetary tightening will affect global economic growth weigh on risk-on sentiment. Growth risks are larger in Europe, which has stronger trade ties with Russia and Ukraine than does the US, though the rapid rise in consumer prices is calling for a stimulus reduction, keeping the [..]

Daily Market Comment – Yen pressure eases slightly, US futures slip after Netflix miss

Posted on April 20, 2022 at 9:08 am GMT

Dollar breaches 129 yen, fuelling speculation of currency intervention But pullback in yields helps yen to steady a little Wall Street jumps but rebound looks shaky as Netflix shatters earnings optimism Softer yields offer temporary respite for sliding yen The Japanese yen continued to slump on Wednesday, but its overnight losses lessened heading into the European session as government bond yields retreated slightly. The US dollar scaled a new 20-year high of 129.40, surpassing the 129 level for the first [..]

US Open Note – Will the explosion in yields hurt the US housing market

Posted on April 19, 2022 at 1:23 pm GMT

Dollar remains buoyant due to aggressive rate hike rhetoric It is apparent that the Federal Reserve is unpacking one of the most aggressive policy tightening schedules to starve inflation, which has been running at its fastest pace in 40 years and try to cool an overheating economy. Double-rate hikes expected in the next couple of meetings and a Fed funds rate around 3.00% by next year, may brew a cocktail that could wobble the US housing market, in terms of [..]

Will Canadian CPI and retail sales shift the loonie back to gains after BoC raises rates? – Forex News Preview

Posted on April 18, 2022 at 1:30 pm GMT

Canada will announce its inflation data of at 12:30 GMT on Wednesday ahead of Friday’s retail sales release at 12.30 GMT. After raising rates by 50 basis points in the preceding week, the Bank of Canada indicated that it may do so again at its next meeting. The inflation report and retail sales figures will be critical in determining whether or not such a hike will take place. Canada CPI expected to tick up; retail sales to remain steady Canada’s annual inflation rate increased to [..]

Daily Market Comment – Euro gets knocked down by ECB, dollar edges up in thin holiday trade

Posted on April 15, 2022 at 9:14 am GMT

ECB leaves forward guidance unchanged, euro gets hung out to dry Stocks struggle, dollar resumes uptrend amid lack of fresh drivers during Easter weekend Oil heads higher on reports EU will phase out Russian imports Euro sinks to 2-year low after ECB inaction The European Central Bank kept worries of burgeoning inflation aside on Thursday as it reiterated its previous forward guidance that asset purchases will end at some point in the third quarter, while providing no precise timeline of [..]

Technical Analysis – USDCAD at risk of bearish rotation below 1.2650

Posted on April 15, 2022 at 7:27 am GMT

USDCAD has been fighting its 50- and 200-day simple moving averages (SMAs) within the 1.2625 – 1.2650 zone the entire week without success, increasing speculation that buyers are losing their impetus. The aforementioned restrictive area also encapsulates the support-turned-resistance trendline from June 2021 and the 50% Fibonacci retracement of the 1.2287 – 1.2962 upleg, making a pullback more likely. Yet, currently, technical signals are rather neutral. The RSI is trying to inch back above its 50 neutral mark, whereas the Stochastics have changed direction to the downside after [..]

Technical Analysis – USDCAD sustains buoyancy above 50- and 100-period MAs

Posted on April 14, 2022 at 3:28 pm GMT

USDCAD has returned above the mid-Bollinger band at 1.2612 and is confronting the 200-period simple moving average (SMA), looking to fully recoup its recent losses from the one-month high of 1.2675. The conflicting signals reflected by the SMAs are implying a trendless picture in the pair for now. The short-term oscillators are displaying a fresh surge in positive momentum. The MACD, although south of its signal line, has nudged back over the zero threshold, while the RSI has improved into [..]

Daily Market Comment – US yields rally cools, dollar slips, stocks bounce back

Posted on April 14, 2022 at 9:07 am GMT

Treasury yields ease back as Fed’s Waller fuels hopes of inflation peaking Dollar skids, Wall Street rallies despite mixed earnings Euro edges up ahead of ECB decision, loonie buoyed by BoC hike Yields retreat, shrug off record rise in US producer prices US Treasury yields are heading lower for the third day on Thursday, with the 10-year yield slipping below 2.70%, as the recent heightened expectations that the Federal Reserve will hike rates very aggressively eased somewhat. A slightly softer-than-expected [..]

US Open Note – BoC decision in the spotlight; dollar still rises

Posted on April 13, 2022 at 1:05 pm GMT

Dollar holds its bullish tone Officials at the Federal Reserve have not changed their hawkish stance. Governor Brainard commented that the Fed’s top priority is to combat inflation and it will implement a policy of neutrality “expeditiously.” Brainard also stated that Russia’s incursion into Ukraine raises inflation concerns, and if it continues, those concerns will only grow as the supply chain troubles worsen. The governor noted that, with this year’s fiscal impact, financial circumstances are already tightening, which will reduce consumption. The dollar is holding its ground, helped [..]

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