All Articles Tagged - USDCAD

US Open – Stocks set for a muted opening; Omicron fears ease

Posted on December 29, 2021 at 1:34 pm GMT

Omicron not yet a problem for the US economy; dollar firms Omicron fears are easing on growing evidence that the fast-spreading variant leads to milder symptoms. This has prompted optimism about the US growth outlook as the strain has not yet weighed on economic data, despite the surging daily cases of the past week. The Richmond Fed’s manufacturing survey released on Tuesday rose in December beating consensus estimates. Firms reported their intention to continue raising wages to attract and retain [..]

Daily Market Comment – Santa Claus rally takes a breather, dollar firms

Posted on December 29, 2021 at 9:37 am GMT

Stocks mixed after Wall Street rally fizzles out, but futures point up Dollar inches higher, yen firms too amid some Omicron worries Oil extends gains, gold pulls back despite soft Treasury yields Wall Street falters but party not over Equity markets were feeling somewhat less joyous on Wednesday after the S&P 500 failed in its bid to close above the 4,800 level for the first time and as Chinese tech stocks came under renewed selling pressure. The S&P 500 ended [..]

US Open Note – Stocks imply a risk-on tone, greenback stabilizes around 96 mark

Posted on December 28, 2021 at 2:46 pm GMT

Dollar’s shine dulls in forex arena; are Omicron risks set to rise? The chaotic 2021 period is soon coming to an end and the lack of market driving news on today’s economic calendar is unlikely to help this year to leave with a bang. That said, major US index futures are persisting around their all-time highs suggesting that positive market sentiment may roll over into the new year. It seems that markets have become robust against fresh threats from the [..]

Technical Analysis – USDCAD losses ground; long-term bullish outlook maintained

Posted on December 28, 2021 at 11:08 am GMT

USDCAD has retreated from its December high amid strengthening negative momentum, and is currently found near its lower Bollinger Band indicating that an immediate upward movement should not be ruled out. However, despite the negativity in the short-term, the price is trading way above its 200-period SMA, reinforcing the pair’s long-term bullish outlook. Short-term momentum indicators are reflecting a negative bias as the RSI is located below its 50 neutral mark, while the MACD is found below zero and its red [..]

Daily Market Comment – Stocks lifted by new S&P 500 record, yen retreats

Posted on December 28, 2021 at 10:10 am GMT

Global stock markets get a lift from S&P 500’s latest dash to new all-time highs Dollar holds steady but yen on a broad pullback amid easing Omicron jitters Oil bounces back as demand worries subside, gold hits one-month high Wall Street’s Santa rally not over yet Shares on Wall Street continued to rally on Monday to notch up a fourth straight day of gains, pushing the benchmark S&P 500 index to a new all-time high of 4,791.19. Having started the [..]

Technical Analysis – USDCAD sellers strengthen as 100-MA support looks shaky

Posted on December 27, 2021 at 3:35 pm GMT

USDCAD footing looks wobbly on the 100-period simple moving average (SMA) at 1.2800 and near the Ichimoku cloud’s lower band after a week’s retreat from a one-year high of 1.2963. The climbing 200-period SMA is endorsing the broader uptrend, while the static 50- and 100-period SMAs are reflecting a minor setback in advances in the pair. The Ichimoku lines are indicating that strong directional forces have dried up, while the short-term oscillators are sending mixed messages in momentum. The MACD, [..]

US Open – Wall Street eyes new record highs

Posted on December 27, 2021 at 1:53 pm GMT

Dollar climbs; Pound continues its advance The US dollar ticked higher on Monday against a basket of currencies, while the 10-year Treasury yield remained relatively unchanged. The perceived risk-on mood which dominated the markets over the past week continues to weigh on the Japanese yen, which incurred significant losses today against the greenback. Furthermore, commodity based currencies such as the loonie, the aussie and the kiwi are struggling with the latter declining the most versus the euro and the dollar. Last week, the British [..]

Daily Market Comment – Cautious mood in holiday-thinned trade

Posted on December 27, 2021 at 10:03 am GMT

Asia drifts lower despite China support but European shares eye gains Rising virus cases put investors on edge as doubts re-emerge about Omicron impact Commodities pressured, dollar firms, pound advances Subdued start to final week of 2021 Markets were struggling for direction on Monday in what is the last trading week of the year. The optimism that the Omicron variant will not cause a major setback to the post-pandemic economic progress has been brought into question by the latest surge [..]

Weekly Comment – Risk appetite returns; China PMI could revive slowdown fears

Posted on December 23, 2021 at 1:29 pm GMT

Stocks staged an early-week comeback after the hawkish turn from central banks had pummelled risky assets. Meanwhile, the British pound capitalized on the BoE’s unexpected rate hike last Thursday, emerging as the undisputed winner in the FX arena. The upcoming week seems relatively quiet, with the spotlight shifting on Chinese PMI and US consumer confidence data. Highlights: In Japan, jobs and industrial production data will be released on Tuesday. However, it is unlikely to offer a significant boost for the [..]

FX year ahead 2022: Brace for volatility – Special Report

Posted on December 22, 2021 at 12:02 pm GMT

It has been an exceptional year for the US dollar, which defied all the doom and gloom predictions to gain more than 10% against the Japanese yen. The resurgence of inflation has turned the tables with many central banks hitting the brakes, and this theme will likely persist into 2022. The dollar could continue to perform well as the Fed tightens and global growth cools, although inflation is a wild card. Politics will also return to the spotlight, with the [..]

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