All Articles Tagged - USDCAD

Daily Market Comment – Stocks steady on Evergrande debt assurance; dollar eyes Fed taper signal

Posted on September 22, 2021 at 8:55 am GMT

Chinese stocks mixed after trading resumes as Evergrande says it will meet debt payment Dollar holds firm ahead of Fed decision; will Powell rock the boat? BoJ keeps policy unchanged, yen slips on better mood, euro and pound lag Cautious rebound underway amid Evergrande relief Equities were mostly recovering on Wednesday as market nerves were somewhat calmed after China’s troubled property giant, Evergrande, told investors it will meet the debt payment due on Thursday for domestic bondholders. However, the company [..]

US Open Note – Stocks recover and dollar takes back seat

Posted on September 21, 2021 at 2:12 pm GMT

Market Sentiment picks up and central bank meetings draw focus The major US indices are gradually extending yesterday’s rebound while the dollar continues to dwindle. Nonetheless, as worries around China’s real estate giant Evergrande Group and its recent warnings of defaulting on its debt payments remain one of the global highlights, the spotlight continues to be directed around central banks. Investors continue to look for clues around meetings, with the BOJ expected to remain dovish and the Fed to comment [..]

Daily Market Comment – Calmer markets despite Evergrande risks, loonie jumps on Trudeau win

Posted on September 21, 2021 at 9:31 am GMT

Fears of Evergrande contagion ease slightly but markets remain edgy Loonie soars after Trudeau narrowly secures third term Aussie and kiwi brush off dovish reserve banks Pound up too but UK energy crisis a worry, dollar off highs Stocks bounce back after Evergrande panic Global equities were steadier on Tuesday, recouping some of the previous days’ losses, as fears of a huge spillover from Evergrande’s debt crisis subsided a little. As investors increasingly liken the Evergrande crisis with the collapse [..]

Technical Analysis – USDCAD eases after the spike at 1.2895

Posted on September 21, 2021 at 8:39 am GMT

USDCAD posted four straight negative days, following the pullback off the 1.2895 resistance level. The stochastic oscillator dived in the oversold zone; however, the RSI is flattening in the positive region after the drop from the 70 level. The 20- and 40-period simple moving averages (SMAs) are approaching the current market action that are acting as strong support levels. In case the pair slips below the SMAs and the 1.2705 support, it could visit the short-term ascending trend line, which [..]

US Open Note – China’s potential domino effect spooks stocks; dollar up

Posted on September 20, 2021 at 1:15 pm GMT

Stocks plunge as China’s Evergrande causes risk-off While the week was supposed to be all about the Fed and its tapering signals, increasing fears that Beijing will let its giant property developer Evergrande default on its $305 billion liabilities over a looming deadline for payment obligations brought another headache to global markets on Monday. The jitters popped up at a time when investors are growing sensitive to high valuations in stock markets and monitor signs of a slowing global economic [..]

Daily Market Comment – Dollar starts Fed week on front foot; stocks hit by Evergrande fallout

Posted on September 20, 2021 at 9:22 am GMT

Dollar climbs to 4-week high amid Fed taper expectations and Evergrande contagion fears Global stock markets tumble as Evergrande stock crashes again, default risk grows All eyes on Fed in busy week for central banks; hawkish BoE bets can’t rescue sliding pound Loonie slips ahead of Canada’s election outcome China jitters hit sentiment as stocks skid, dollar gains Fears of global contagion from the worsening crisis in China’s property sector continued to weigh heavily on sentiment at the start of [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

Week Ahead – Fed to headline jam-packed week for central banks

Posted on September 17, 2021 at 11:27 am GMT

The Federal Reserve is widely expected to give its clearest signal yet next week that tapering is just around the corner. But the Fed will have to fight for attention as the Bank of Japan, Bank of England and Swiss National Bank meetings are some of the other policy gatherings taking place in the coming days. However, central banks will not be the only ones to fall under the limelight as elections in Canada and the flash PMIs for September [..]

Technical Analysis – USDCAD fails to gain optimism for bullish bias in short-term

Posted on September 17, 2021 at 6:27 am GMT

USDCAD has been trading back and forth the 20-day simple moving average (SMA) over the last month, failing to improve the bullish view in the short-term. The pair rebounded off the six-year low of 1.2012 and is creating higher highs and higher lows; however, the technical indicators are mirroring the latest weak momentum. The MACD oscillator dived below its trigger line but is still in the positive region, while the RSI is ticking lower above its neutral threshold of 50. The Ichimoku cloud has [..]

US Open Note – Stocks wane and dollar improves

Posted on September 16, 2021 at 2:16 pm GMT

US retail sales, jobless claims and Canadian ADP Non-Farm labour data take centre stage US major indices are slightly lower as the greenback continues its comeback. It seems consumption endured even as job growth remained burdened last month with August headline retail sales rising to 0.7%, beating July’s -1.8% figure and expectations of -0.8% m/m, while the core data soared to 1.8%, overshooting the -0.1% m/m estimation. Furthermore, the Philly Fed Manufacturing index came in at 30.7, eclipsing August’s and [..]

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