All Articles Tagged - USDCAD

US Open Note – Calm day ahead of busy week; US futures are flat

Posted on July 26, 2021 at 12:58 pm GMT

Quiet day ahead of Fed meeting this week The US dollar has a negative momentum ahead of the FOMC meeting this current week. US 10-year treasury yields declined to a record low of 1.13% before recovering to 1.20 driving the dollar index down to 92.70. Dollar/yen is holding near 110.30 and is currently red, while US futures are neutral. The Fed meeting will focus on the concerns about the economy and the expectation is to tread carefully on the path [..]

US Open Note – Stocks to close the week unharmed as the focus turns to the Fed

Posted on July 23, 2021 at 1:16 pm GMT

Stocks flirt with record highs Despite a choppy week, which spurred pandemic fears before putting them back to rest again, global stocks bound up their wounds as investors cheered on robust corporate profits and assessed that fiscal and monetary policy could still protect economies from covid breakouts. Industrials, basic materials, and consumer cyclicals drove gains in the pan-European STOXX 600 today, pushing the index closer to its recent record highs, while upbeat earnings in telecommunications and autos underpinned sectoral advances. Wall [..]

Week Ahead – Fed to talk taper but stall on action; growth data in focus amid recovery doubts

Posted on July 23, 2021 at 11:16 am GMT

The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and dangers ahead. Meanwhile, US and Eurozone GDP readings could further muddle the market mood as they will likely confirm the solid rebound in Q2 even as uncertainty about the outlook is increasing. If all that wasn’t enough for investors to [..]

Technical Analysis – USDCAD recoils beneath 200-SMA but upside still active

Posted on July 23, 2021 at 9:43 am GMT

USDCAD’s seven-week uptrend from the 6-year lows remains structurally intact with shaped higher lows and highs, in spite of the fresh pullback from the peak of 1.2807. Upside sentiment appears to be growing, something also being indicated by the softened negative slopes of the 100- and 50-day simple moving averages (SMAs). Furthermore, the rising 50-day SMA is steering for a possible bullish crossover of the flattening 100-day SMA, which ultimately could confirm upside improvements should positive price action intensify. The [..]

US Open Note – Markets recoup and dollar stays upbeat

Posted on July 21, 2021 at 1:44 pm GMT

Markets retain buoyancy as forex arena looks to ECB decision The domino effect from the latest delta variant shock around infection spikes seems to have been short lived as US major indices today continued to recoup recently surrendered ground. Concerns after the initial jolt to markets around the virus rhetoric seem to have subsided somewhat. The US dollar index seems cemented around its recent highs and the pickup in the 10-year yield to 1.24% may be aiding the reserve currency [..]

Technical Analysis – USDCAD consolidates above 1.27 level; positive tone intact

Posted on July 20, 2021 at 3:48 pm GMT

USDCAD has stabilized above the 1.2729 low after aggressively stretching to a five-and-a-half-month high of 1.2807. The advancing simple moving averages (SMAs) are shielding recent improvements in the pair, while the bullish Ichimoku lines are indicating a pause in upward drive, specifically the flattening of the blue Kijun-sen line. The short-term oscillators are currently reflecting a slight dry up in positive momentum. The MACD, far above zero, is north of but is edging towards its red trigger line, while the [..]

US Open Note – Stocks gain some footing; coronavirus dejavu-jitters linger

Posted on July 20, 2021 at 2:02 pm GMT

Stocks adjust to delta trauma while dollar holds firm Markets seem to be gradually regaining consciousness from yesterday’s risk-off blow even as yields are on the back foot. That said, the US recovery is clearly ahead of other lagging economies and may start to make headways again as uncertainty and delta variant related concerns start to establish themselves elsewhere. The dollar index is flirting with the 93.00 mark and is holding up fairly well in the forex arena despite the [..]

US Open Note – Pandemic anxiety spurs risk aversion; Wall street futures in the red

Posted on July 19, 2021 at 1:02 pm GMT

Pandemic uncertainty resurfaces The cocktail of a contagious Covid delta variant and the stabilization in vaccinations revived memories of lockdown restrictions and amplified inflation fears at a time when investors were confident that the summer months could boost economic growth, especially in the hardest-hit tourism sector. The major concern is how the pandemic will evolve when the flu activity resurfaces in the last quarter of the year and whether governments will reimpose strict curbs or let herd immunity do its [..]

Daily Market Comment – Virus fears return to haunt markets

Posted on July 19, 2021 at 8:51 am GMT

Global stocks lose altitude as investors sense something ominous Sterling caught in the storm too, loonie slides with oil after OPEC deal Dollar and yen stand tall amid flight to safety, gold not so fortunate Gloomy mood spreads The sense of caution that dominated the bond market recently is now spreading over into stocks and currencies, leaving investors puzzled over what’s behind all the gloom. The initial spark seemed to be a short squeeze in bonds that hammered yields lower, [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

USDCAD

XM Live Chat