All Articles Tagged - USDCAD

Daily Market Comment – Wall Street’s pain not over but Apple offers hope, dollar stands tall

Posted on January 28, 2022 at 10:33 am GMT

US stocks swing into losses again but Apple pulls Nasdaq futures higher Fed fears continue to weigh on markets, dollar edges up to fresh highs Euro, aussie, kiwi lead FX losses, gold breaches $1,800/oz, but oil holds firm Stocks remain on slippery slope Wall Street’s latest attempt to bounce back from the January slump faltered again on Thursday, with all three main indices giving up earlier gains to slip into the red. Worries about persistent supply disruptions and rising costs, [..]

Technical Analysis – USDCAD rockets off 200-MA, fuelling upward trajectory

Posted on January 28, 2022 at 8:58 am GMT

USDCAD remains positively energized aiming for the Ichimoku cloud’s upper band around the 1.2813 high, after taking flight from the 200-day simple moving average (SMA) around the 1.2500 mark. The longer-term SMAs are suggesting an overall neutral trend in the pair, while the marginal incline in the 50-day SMA is sponsoring the recent rally from the 1.2500 level. Currently, the Ichimoku lines are converging, failing to indicate a leading directional force, while the short-term oscillators are skewed to the upside. [..]

US Open Note – Fed’s ‘hawkish’ tone sends the dollar surging

Posted on January 27, 2022 at 2:00 pm GMT

Powell signals a rate hike in March The first FOMC meeting of 2022 was concluded on Wednesday, with the Fed Chair Jerome Powell setting the stage for a March rate hike, declining to rule out more frequent and larger rate increases. Powell also struck a pessimistic tone regarding the recovery of supply chain disruptions, which are currently driving inflation. However, even if supply bottlenecks subside, the ongoing wage-price spiral could keep inflation elevated throughout 2022, keeping monetary tightening pressures high. [..]

Daily Market Comment – Dollar soars, stocks sink after Powell hints Fed will move faster on rates

Posted on January 27, 2022 at 10:35 am GMT

Powell makes a further hawkish pivot, signals end of era of highly accommodative policy Yields and dollar jump, but stocks are battered, upbeat earnings offer some support Kiwi biggest FX loser even as strong CPI fuels RBNZ rate hike bets Fed gets tough on inflation Fed Chair Jerome Powell left investors in no doubt that borrowing costs are set to rise in the coming months, leaving the door open to both a faster and steeper pace of rate increases. As [..]

Technical Analysis – USDCAD crosses above 200-SMA as positive momentum strengthens

Posted on January 27, 2022 at 8:39 am GMT

USDCAD has been marching higher in the last few four-hour sessions, jumping above its 200-period simple moving average (SMA) amid intensifying positive momentum. Therefore, despite experiencing a minor pullback, the pair seems to be resuming its short-term upside trajectory. The momentum indicators reinforce that positive forces have gained the upper hand. The MACD histogram has crossed above its red signal line in the positive territory, while the RSI is hovering just above the 70-overbought mark. Moreover, the price is currently [..]

US Open Note – Dollar surges ahead of FOMC decision; stocks back in positive ground

Posted on January 26, 2022 at 1:54 pm GMT

Markets are gradually stabilizing, despite the fact that Russia-Ukraine tensions remain high. The two-day FOMC meeting concludes this afternoon. FOMC meeting ends today The Fed is widely expected to keep a hawkish stance as it prepares the market for a rate lift-off on March 15-16. This year’s three quarterly rate increases have already been factored into the market. In the absence of any new macro projections or Dot Plots, we expect Fed Chair Powell to make a very clear message [..]

Daily Market Comment – Stock selloff eases as Fed and BoC awaited

Posted on January 26, 2022 at 10:11 am GMT

Fed’s and BoC’s inflation-fighting credentials to be put to the test Dollar steady, yen pulls back as Fed and Ukraine jitters subside slightly Wall Street survives another rollercoaster session, Microsoft earnings lift futures Will Powell scare markets or soothe the panic? All eyes are on the Fed today as investors search for some much-needed policy guidance amid spiralling inflation, growing doubts about the economic outlook and geopolitical tensions in Eastern Europe. The FOMC decision itself, due at 19:00 GMT, is [..]

BoC policy meeting: It’s time for a rate hike – Forex News Preview

Posted on January 25, 2022 at 3:41 pm GMT

The Bank of Canada (BoC) is widely expected to kick off the new year with a rate hike on Wednesday despite its muted communication over the past weeks. With inflation well above the central bank’s target and the labor market running hot, a rate increase could be justified. That said, investors are already positioned for the announcement and the central bank will need to provide extra hawkish signals to cancel the latest pullback in the loonie. The decision will be [..]

Technical Analysis – USDCAD rally halted by 200-MA but bullish mood intact

Posted on January 25, 2022 at 1:58 pm GMT

USDCAD has managed to retain its positive tone from the rally that saw prices surge from a 10-week double bottom around 1.2450, as advances were capped at 1.2707, which is the 50.0% Fibonacci retracement of the down leg from 1.2963 until 1.2450. The simple moving averages (SMAs) have rotated marginally to the upside, hinting that the minor uptrend may evolve. The Ichimoku lines are indicating a pause in upside forces, while the short-term oscillators are sending mixed messages in directional [..]

US Open Note – Market awaits FOMC meeting, keeps an eye on Ukraine crisis

Posted on January 25, 2022 at 1:52 pm GMT

FOMC minutes attract attention The two-day FOMC meeting begins today and concludes tomorrow with a decision as the global economy is feeling the pain of omicron variant. The Federal Reserve is widely expected to maintain its hawkish stance as it prepares the market for liftoff at its next meeting. Anyone hoping for some form of Fed Put this week will likely be disappointed. The Federal Reserve’s top aim right now is to keep inflation under control. Because the economy is on the verge of reaching full employment and inflation [..]

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