All Articles Tagged - USDCAD

Technical Analysis – USDCAD advances put under the microscope

Posted on November 25, 2021 at 2:40 pm GMT

USDCAD is making a second attempt to recoup lost ground from the retreat in the pair off a near eight-week high of 1.2744. The bullish tone of the advancing 50- and 100-period simple moving averages (SMAs) is safeguarding the one-month rally in the pair. Currently, the Ichimoku lines are not endorsing any decisive increase in directional powers, while the short-term oscillators are reflecting an upsurge in bullish momentum. The MACD, in the positive region, is beneath its red trigger line [..]

Technical Analysis – USDCAD runs out of steam at 8-week highs, rally at risk

Posted on November 23, 2021 at 2:49 pm GMT

USDCAD advances have encountered some downside pressure from the 1.2738-1.2755 obstacle, formed by the October 1 and September 30 highs, hinting that bullish powers may be subsiding. However, the soaring 50- and 100-period simple moving averages (SMAs) are still backing the uptrend in the pair. That said, the bullish Ichimoku lines are starting to signal minor waning in the upward drive as the red Tenkan-sen line’s incline falters, while the short-term oscillators are reflecting the increase in negative momentum. The [..]

Daily Market Comment – Fed’s No. 2 hints at faster taper; dollar up but stocks stay calm

Posted on November 22, 2021 at 9:57 am GMT

Fed’s Clarida open to quicker tapering, but no panic yet in bond and equity markets Dollar eyes fresh highs as euro and pound keep bleeding; commodity dollars steadier Flash PMIs and RBNZ may spark some fireworks before Thanksgiving holiday Markets in positive spirits despite Fed and virus worries The Fed’s second in command may have just opened the door to a faster pace of tapering, but stocks nevertheless edged higher at the start of the week as there appeared to [..]

US Open Note – Stocks improve and dollar surges

Posted on November 19, 2021 at 2:17 pm GMT

King dollar comes on top as rate hike prospects grow US stock futures are near their highs but are showing minor slack, more so the S&P and Dow Jones composites than the Nasdaq 100. Expectations of lift-off in rate hikes in 2022, once tapering ends, has aided the reserve currency. The dollar index has shot back above the 96.00 mark, but USDJPY plunged past the 114.00 level and is currently around 113.80. While unlikely, should job projections be around pre-pandemic [..]

Daily Market Comment – Fresh records for Wall Street; euro gets kicked by Lagarde again

Posted on November 19, 2021 at 10:20 am GMT

Optimism returns to equity markets as US stocks scale fresh all-time highs Rate hike expectations go into overdrive, dollar comes out the winner Dovish Lagarde deals another blow to battered euro Growth fears ease after solid data, buoy stocks After struggling a bit in the last couple of days, global stock markets look set to end the week firmly higher, led by another record close on Wall Street on Thursday. A robust set of economic indicators out of the United [..]

Technical Analysis – USDCAD slips below 7-week high and 1.2600

Posted on November 19, 2021 at 7:51 am GMT

USDCAD is losing momentum after the spike towards the seven-week high of 1.2646 that it posted on Thursday. The pair declined below the 1.2600 psychological number again and it may find immediate supports at the simple moving averages (SMAs), which are hovering around 1.2460. The MACD oscillator is rising in the positive area, holding above its trigger line, while the RSI is testing the ascending line in the bullish area. In case of more losses, the price could meet the 20- and 40-day [..]

US Open Note – Dollar eases awaiting new market movers; Turkish lira plummets

Posted on November 18, 2021 at 1:57 pm GMT

Initial jobless claims come out; dollar still falling US jobless claims declined by one thousand in the week ending November 13th, a new pandemic low as the labor market continues to slowly recover from the coronavirus hit. The US dollar index is continuing the selling interest that started on Thursday, flirting with 95.60. Dollar/yen is hovering above 114.00 after posting a new high yesterday. Euro/dollar is jumping above the 16-month low of 1.1263, recouping some losses, while pound/dollar is approaching 1.3500. US stock futures are heading for a [..]

US Open Note – Dollar climbs as prices and yields tick higher

Posted on November 17, 2021 at 2:49 pm GMT

Global inflation risks prevail, Canada delivers CPI data The US economy appears to be recovering well in the last quarter of the year and subsequently, speculation about a fresh Fed Chairman being appointed seems to be fading in the horizon. Yesterday’s surprise surge in US retail sales by 1.7% m/m in October hints that consumption remains at elevated levels. However, these figures are nominal as rising price pressures persist. The dollar index has touched 96.24, levels last seen in July [..]

Daily Market Comment – Euro in freefall as outlook dims; pound gains on inflation jump

Posted on November 17, 2021 at 9:59 am GMT

Euro tumbles again as dovish ECB and mounting worries weigh Pound modestly higher after UK inflation tops 4% Dollar reigns supreme as strong US data run continues Euro can’t catch a break The euro is sinking, stretching its week-long slide and breaching the $1.13 level for the first time since July 2020, as investors turn more bearish on the Eurozone outlook. The single currency had already come under heavy selling pressure from last week’s big jump in US inflation, which [..]

Technical Analysis – USDCAD bounces near 50-MA but snags at mid-Bollinger

Posted on November 16, 2021 at 4:14 pm GMT

USDCAD is currently trying to overstep the mid-Bollinger band at 1.2550 after the pair recently found fresh positive traction near the 50-period simple moving average (SMA) at 1.2492. The lagging longer-term 200-period SMA continues to decline, while the 50- and 100-period SMAs have adopted a bullish bearing, endorsing the latest improvements in the pair. The short-term oscillators are suggesting upside pressures are intensifying. The MACD, is below its red trigger line in the positive section but bullish powers appear to [..]

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