All Articles Tagged - USDCAD

Daily Market Comment – Dollar wavers as inflation optimism overshadowed by Ukraine ‘dead-end’

Posted on April 13, 2022 at 9:04 am GMT

Dollar and Treasury yields see-saw after miss in US core inflation rate Euro under renewed pressure after Putin dashes hopes of peace, stocks mixed RBNZ first to hike by 50 bps, BoC likely to follow US inflation may be peaking, but risk-on tone falters quickly A glimmer of hope that the relentless rise in American consumer prices may be slowing lifted the market mood on Tuesday, sending Treasury yields lower and Wall Street higher. But the optimism didn’t last long [..]

Daily Market Comment – Rising yields start to spook equity markets, dollar crushes rivals

Posted on April 12, 2022 at 9:19 am GMT

Stock market selloff accelerates as investors begin to panic about soaring borrowing costs Dollar climbs to new highs as yen slumps again, eyes US inflation data Oil bounces off lows after China eases Shanghai lockdown, gold attracts some bids Stocks back in the doldrums Equity markets remained in the red on Tuesday as global bond yields extended their ascent to multi-year highs, freaking out jittery investors already on edge about the dimming growth outlook following Russia’s invasion of Ukraine. The [..]

Will the Bank of Canada opt for a 50-bps rate hike at its April meeting? – Forex News Preview

Posted on April 11, 2022 at 3:48 pm GMT

The Bank of Canada announces its next monetary policy decision on Wednesday (14:00 GMT) and the odds of a double rate hike are very high. The Canadian economy has been going from strength-to-strength after emerging from the first lockdown in 2020, with a few bumps along the way. Like its southern neighbour, the United States, inflation is too high and the labour market is tightening fast. This gives policymakers little excuse to stay cautious. But how much more hawkish can [..]

Daily Market Comment – Dollar powers ahead as US yields keep surging; central banks in focus

Posted on April 11, 2022 at 9:38 am GMT

Dollar at 2-year high as Treasuries rout deepens, puts Wall Street on backfoot ahead of earnings Euro edges up after Macron survives round 1 of election, spotlight now on ECB Chinese yuan and stocks slip amid lockdown havoc, oil can’t take the heat either US real yields approach zero, dollar shines, stocks pay the price The Fed’s latest tilt towards the far hawkish end of the dove-hawk scale continued to reverberate across markets on Monday, giving the US dollar another [..]

US Open Note – Market sentiment thins at end of week

Posted on April 8, 2022 at 1:37 pm GMT

Dollar reigns and Friday’s focus aims at Canadian employment data Volatility in the S&P 500, the Dow Jones and Nasdaq 100 composite remains subdued today, compressed by the Federal Reserve’s recent policy rhetoric to accelerate the pace of tightening along with elevated treasury yields. However, this hawkish stance while leaving the door open to be flexible in terms of being able to control the tempo of rate hikes, reassures markets that the Federal Reserve will remain vigilant to avoid pushing [..]

Week Ahead – BoC and RBNZ to hike big, ECB to bide its time

Posted on April 8, 2022 at 12:15 pm GMT

It’s going to be a major week for central banks ahead of the long Easter weekend, with three meetings on the way and rate hikes looking almost certain to be the outcome of at least two of them. So the spotlight will fall on the Bank of Canada, Reserve Bank of New Zealand and European Central Bank for much of the week. Although economic data will also be ample – inflation numbers will be watched in China, the United States [..]

Technical Analysis – USDCAD struggles to surpass 38.2% Fibo around 1.2600

Posted on April 8, 2022 at 7:02 am GMT

USDCAD created an impressive bullish rally after the rebound off the 50.0% Fibonacci retracement level of the up leg from 1.2000 to 1.2960 at 1.2485 and is now struggling to surpass the 38.2% Fibonacci of 1.2595 and the 200-day simple moving average (SMA). The RSI indicator is moving sideways at the moment around the neutral threshold of 50, while the MACD is heading north above its trigger line. In case the pair changes its short-term direction to the upside, the bulls will [..]

US Open Note – Dollar stands firm; ECB meeting minutes fail to move the euro

Posted on April 7, 2022 at 1:13 pm GMT

Dollar preserves FOMC boost; stocks weaker The US dollar kept its lead against a basket of major currencies on Thursday, trading almost at a one-year high. The world’s reserve currency is now set for a thriving weekly close as the FOMC meeting minutes reaffirmed the Fed’s recent sharp hawkish tone yesterday, revealing that the central bank will hit the stimulus brakes more aggressively in the coming months. In addition to a larger 50 bps rate hike, the central bank openly [..]

Loonie may return to gains after the Canadian employment report – Forex News Preview

Posted on April 6, 2022 at 1:10 pm GMT

Canada’s employment report will come out on Friday at 15:30 GMT a few days before the Bank of Canada’s interest rate decision. In the previous meeting the bank raised by 25bps to 0.5% and they signalled that more rate increases are on the way reiterating its commitment to employ monetary policy instruments to bring inflation back to 2% and keep inflation expectations stable. The Canadian dollar is trying to gain more ground over the last couple of days and more [..]

US Open Note – Market risk-off vibe portrays subtle volatility

Posted on April 5, 2022 at 1:45 pm GMT

Dollar benefits from rising yields; US ISM Services PMI eyed As things stand, the current driving impulses seem to be having an insignificant effect on markets heading into tomorrow’s FOMC minutes. The markets’ response remains muted also to the growing possibility that new economic sanctions on Russia from the West may be in the pipeline considering the fresh suspected atrocities in Ukraine, as they intend to isolate Moscow and hinder it from meeting its debt payments. Nonetheless, a subdued picture [..]

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