All Articles Tagged - USDCAD

US Open Note – Nonfarm payrolls throw cold water on dollar

Posted on October 8, 2021 at 2:20 pm GMT

Nonfarm payrolls miss forecasts Investors were eagerly waiting for a solid 500k growth in US nonfarm payrolls in September, but the actual results caught everyone by surprise when the data showed a significantly lower addition of 194k. Of course, there were some bright spots in the employment report as the August reading was upwardly revised and average hourly earnings strengthened faster than expected on a monthly basis. Still, the softer job creation was enough to witness the persisting labor shortages [..]

Daily Market Comment – Markets perk up ahead of NFP but dollar holds ground

Posted on October 8, 2021 at 8:51 am GMT

Equities advance as inflation and energy fears ease further and US debt default averted But dollar edges up too as US yields climb to fresh highs Focus on US jobs report; will likely clear the path for Fed tapering Risk-on returns as energy panic subsides Another rebound on Wall Street on Thursday set the tone for global equities on Friday as risk appetite recovered further after a tumultuous few days. Stock markets were roiled earlier in the week as energy [..]

Technical Analysis – USDCAD approaches the lower Bollinger band near 1.25

Posted on October 8, 2021 at 7:24 am GMT

USDCAD is falling after the pullback off the 1.2770 resistance level last week. The price is approaching the lower Bollinger band, while the 20-day simple moving average (SMA) is ready to cross the 40-day SMA to the downside. The MACD is stretching its negative momentum below its trigger and zero lines, while the RSI is holding in the negative region. If the pair dives beneath the 200-day SMA, which overlaps with the lower Bollinger band, it could open the way [..]

Daily Market Comment – Stocks rebound as gloom eases, oil and dollar pull back

Posted on October 7, 2021 at 9:34 am GMT

Sentiment improves after energy prices ease; US debt deal and Biden-Xi meeting help too Strong turnaround on Wall Street pulls global stocks higher but inflation threat not gone Aussie and kiwi lead rebound in FX but energy crisis fears still weigh on euro and pound Fears of an energy crunch subside, for now Markets were in a much more cheerful mood on Thursday as some of the gloom around a deepening global energy crisis, soaring inflation and never-ending supply disruptions [..]

Daily Market Comment – Stagflation fears hit sentiment as RBNZ hikes rates and oil jumps again

Posted on October 6, 2021 at 9:08 am GMT

Stocks struggle amid the growing threat of global stagflation RBNZ raises rates but kiwi falls as US dollar extends gains WTI futures hit 7-year high, fuelling inflation worries as oil rally continues Sentiment sours again as stagflation fears persist Global equities were back in the red on Wednesday as concerns about sluggish growth and higher inflation returned to haunt investors. The shift towards tighter monetary policy by central banks amid worsening supply shortages around the world and surging commodity prices [..]

Technical Analysis – USDCAD maintains negative tone; sellers test low

Posted on October 5, 2021 at 3:30 pm GMT

USDCAD sellers are pushing under the 1.2557 low and nearing the neighbouring lower Bollinger band at 1.2536. The diving 50-period simple moving average (SMA) and its bearish cross below the 100 and 200-period SMAs is promoting growing negative momentum. The short-term oscillators are also negatively skewed, endorsing price’s preference to steer lower. The MACD, remains below its red trigger line, while the RSI is falling in bearish territory. Furthermore, the negatively charged stochastic oscillator is suggesting more down moves in [..]

US Open Note – Equities heal wounds but risks still in play; RBNZ in focus

Posted on October 5, 2021 at 1:50 pm GMT

Stock markets enjoy some recovery, but not for long While central banks keep talking about a transitory inflation, investors seem to walk on thin ice, wondering whether the combination of supply chain disruptions, rocketing energy prices and labor shortages need to be taken more seriously as initial symptoms of stagflation. Although there is no convincing evidence of stagflation yet, headlines have been more depressing than cheerful around business struggles lately, and that was enough to ghost traders and knock down [..]

Canadian dollar may head further up after jobs report – Forex News Preview

Posted on October 5, 2021 at 11:31 am GMT

The Canadian dollar traded higher against the US dollar in the previous days and traders anticipate the release of the September’s employment report on Friday at 12:30 GMT. Even as oil prices have reached new highs, the Canadian dollar has been on a steady downward trend since June. In August, Canada’s unemployment rate declined for the third consecutive month to 7.1% the lowest unemployment rate since the beginning of the covid-19 pandemic. The unemployment rate is predicted to drop to 6.9% in [..]

US Open Note – Stocks static and yields fail to aid dollar

Posted on October 4, 2021 at 2:22 pm GMT

OPEC and global energy risks; Central Banks and NFP report are drivers of the week Market uncertainty lingers but the greenback’s haven appeal remains muted, as a global energy crisis threatens recoveries across the globe. Stocks are slightly on the back foot to start the week and the dollar remains feeble as the 10-year yield provides no support. Uncertainty out of China around a property developer giant and rising energy prices, with the UK being hit the worst, maybe weighing [..]

Week Ahead – US jobs report, RBNZ rate hike may further roil markets amid turbulence

Posted on September 30, 2021 at 2:17 pm GMT

Just as central banks thought it was safe to begin closing the taps on stimulus, warning signals are flashing red across the markets as fears grow of a sharp slowdown in growth in the major economies. However, policymakers are expected to stay on the tightening path for now, with the September jobs report likely giving the Fed the green light to taper in November, while the Reserve Bank of New Zealand will probably press on with a telegraphed rate hike. [..]

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