All Articles Tagged - USDCAD

Daily Market Comment – Dollar advances as stocks slip again, yields hold steady

Posted on March 2, 2021 at 10:02 am GMT

Calmer bond markets lift Wall Street, but global stocks dip on China’s bubble warning Dollar approaches one-month high as ECB, RBA and RBNZ push back on rising yields Oil prices fall for third straight day on higher supply worries, gold struggles Bubble warning pressures stocks Risk appetite waned slightly on Tuesday as the relative stability in bond markets was overshadowed by warnings of a “bubble problem in foreign financial markets” by a top Chinese financial regulator. The comments revived fears [..]

Loonie remains choppy ahead of Canadian GDP, OPEC+ decision – Forex News Preview

Posted on March 2, 2021 at 6:50 am GMT

Fourth quarter GDP numbers will be watched out of Canada on Tuesday (13:30 GMT) as the recovery is expected to have lost steam. Nevertheless, the Canadian dollar has been edging higher so far in 2021 as a red-hot housing market, higher oil prices and a predicted economic boom south of the border are likely to hold back the Bank of Canada from adopting a too dovish line. However, the loonie’s ascent has been bumpier than its peers amid a number [..]

Daily Market Comment – Stocks edge up, dollar eases as bond markets stabilize

Posted on March 1, 2021 at 9:42 am GMT

Yields fall back as selloff in government bonds cools, but is the panic over? Stocks get off to firm start as vaccine and stimulus hopes still at play Risky currencies pare losses as dollar recedes from highs, gold bounces off lows Calm returns to bond markets, but maybe not for long Long-dated Treasury yields started the new month well off their one-year highs from last week as a bit of calm was restored in battered bond markets. The 10-year yield [..]

Week Ahead – NFP to guide yields, RBA could be a yawn, pound turns to UK budget for boost

Posted on February 26, 2021 at 2:03 pm GMT

As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The Reserve Bank of Australia’s policy meeting will be the only central bank gathering of the week but is unlikely to provide much excitement. Canadian Q4 GDP figures are also on the agenda but the upcoming output meeting by OPEC+ might matter more for the oil-dependent loonie. It will be somewhat [..]

Technical Analysis – USDCAD defies the broader bearish outlook

Posted on February 26, 2021 at 9:34 am GMT

USDCAD is opposing the overwhelmingly bearish picture with its recent bounce off a newly formed 3-year low, between the troughs of 1.2450 and 1.2527. The pause in the falling Ichimoku lines is reflecting the recent rebound in the price, while the sliding simple moving averages (SMAs) are safeguarding the prevailing negative tone. The short-term oscillators are reflecting mixed signals in directional momentum. The MACD, in the negative region, is holding below its red trigger line, while the RSI’s bounce ahead [..]

US Open Note – Bond yields shine at fresh highs as US futures struggle; euro bulls gear up

Posted on February 25, 2021 at 2:11 pm GMT

Bond yields shrug of Powell’s comments; US future point to the downside Nothing could stop bond yields from rising on Thursday, not even the Fed chief Powell, who once again told lawmakers of the House of Representatives on Wednesday that a persistent rapid inflation break above 2.0% will not be the case for the next three years. While his remarks assured investors, who were front-running the Fed, that the current ultra-lose monetary policy is here to stay, the US 10-year [..]

Global yields catch up with US Treasuries; has the dollar’s rebound been thwarted? – Special Report

Posted on February 24, 2021 at 2:54 pm GMT

A battle of the yields is underway as the returns on long-dated government bonds recover to pre-pandemic levels, undermining the allure of riskier assets such as stocks. The rally in bond yields is being led by US Treasuries, as the American economy shines the brightest in the Western sphere. However, while the US dollar got an unexpected leg up from the early stages of the surge in Treasury yields, the strengthening vaccine-led optimism is now spreading to other parts of [..]

US Open Note – Investors give up on traditional safe havens; pound pulls from 1.4235 peak

Posted on February 24, 2021 at 2:08 pm GMT

Stocks heal slightly after Tuesday’s plunge The vaccine euphoria coupled with reopening guidelines and stimulus pledges from several countries continued to lead market sentiment on Wednesday, boosting the appetite for risk-on trades. Fed chief Powell characterized the bond rally as “a statement of confidence” during his virtual semi-annual testimony in the Senate on Tuesday, and once again, reaffirmed that the current accommodative monetary policy will remain in play as long as it is needed, leaving the 10-year Treasury yield elevated [..]

Daily Market Comment – Yen and franc dive but stocks unable to sustain Powell bounce

Posted on February 24, 2021 at 10:28 am GMT

Safe-havens yen and franc plunge again as Powell boosts recovery hopes US stocks pull back from sharp dip but elevated yields continue to weigh Pound catapults to fresh highs; aussie, kiwi and loonie soar too Powell reassurance sends safe havens skidding Growing optimism about a vaccine-led recovery continued to reverberate through currency markets on Wednesday, steering riskier pairs to fresh highs, while pummelling traditional safe havens such as the yen and Swiss franc. The latest wave of positive outburst comes [..]

Technical Analysis – USDCAD finds footing at multi-year lows; pauses its descent

Posted on February 23, 2021 at 4:31 pm GMT

USDCAD is consolidating in the vicinity of the 34-month low of 1.2580. The Ichimoku lines are reflecting the pause in negative momentum, while the falling 50- and 100-period simple moving averages (SMAs) are promoting further deterioration in the price. The short-term oscillators are conveying mixed signals in directional momentum. The MACD, in the negative region, has stepped above its red trigger line, while the downwards sloping RSI is holding in the bearish territory. The stochastic oscillator is bullish out of [..]

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