All Articles Tagged - USDCAD

Daily Market Comment – Equities sink as second wave fears bite, but currencies stay calm

Posted on October 27, 2020 at 9:30 am GMT

Spiraling infections and tightening US election inject caution into markets Stocks tank alongside crude oil, but trim losses after stimulus comments FX market was in a sour mood too, but moves were much smaller Question is, how is the euro standing so well even as growth risks escalate? Risk aversion deepens, but does not overwhelm One week to go until the US election and markets are starting to wake up to the storm of risks that is threatening to [..]

Daily Market Comment – Investors play defense as global cases surge, US election tightens

Posted on October 26, 2020 at 9:15 am GMT

Markets on red alert as US infections hit grim records, Europe adopts new measures Meanwhile, election polls have tightened – ‘Blue wave’ no longer as certain Global stocks retreat, oil hammered, dollar inches higher Big week ahead: three central bank meetings, key GDP data, tech earnings Global cases soar, investors cut risk exposure Market participants are playing some defense on Monday, slashing their exposure to riskier assets like stocks and rotating into the safety of sovereign bonds, amid a blitz [..]

Week Ahead – ECB, BoC, and BoJ serve as appetizers for US election

Posted on October 23, 2020 at 10:08 am GMT

With less than two weeks to go until the US election, markets are on red alert as opinion polls in key battleground states have tightened. In the meantime, there are three central bank meetings and a ton of data to keep things exciting. The ECB could steal the show by opening the door for more stimulus, to negate the risk of a double-dip recession as the virus rampages through Europe. The central banks of Canada and Japan will meet too, [..]

Technical Analysis – USDCAD stops above 1.31; still bearish in long term

Posted on October 23, 2020 at 6:45 am GMT

USDCAD is continuing its downside movement in the longer timeframe after it found resistance around the 1.3420 barrier and the upper surface of the Ichimoku cloud once again. In the very short-term, the pair has been developing in a horizontal trajectory over the last couple of weeks, trading below the 20- and 40-day simple moving average (SMA). In the technical picture, the RSI indicator is pointing slightly higher, while the stochastic is heading north after the bullish cross within the [..]

Daily Market Comment – Dollar firms, stocks slip amid US stimulus doubts

Posted on October 22, 2020 at 8:49 am GMT

Talks on US stimulus package continue but deal in doubt after Trump slams Democrats Dollar regains some footing, equities drift lower as final presidential debate eyed Brexit progress supports euro and pound as virus cases spiral out of control Stimulus setback after Trump throws a tantrum Hopes for a quick deal on a new coronavirus aid package in the United States have faded somewhat as negotiations between the White House and the Democrats drag on. Disagreement over funding for state [..]

Technical Analysis – USDCAD’s plunge hits a snag; negative outlook intact

Posted on October 21, 2020 at 1:53 pm GMT

USDCAD seems to have stalled its negative dive under the 50-period simple moving average (SMA) as the pair improves slightly from the 1.3075 – 1.3086 support section. Nonetheless, the falling 50- and 100-period SMAs are promoting extra price deterioration, while the bearish crossover of the 200-period SMA by the 100-period one may boost the broader negative structure. However, the short-term oscillators reflect improvements in positive momentum. The MACD, in the negative region, is slowing below its red trigger line, while [..]

Loonie may edge higher after Canadian CPI and better retail sales – Forex News Preview

Posted on October 20, 2020 at 12:27 pm GMT

Canada will publish its inflation data for the month of September at 1230 GMT on Wednesday together with retail sales figures for August. The recovery in retail sales has been V-shaped, with sales in June and July rebounding and surpassing February’s pre-pandemic levels. There is a critical juncture in the economic recovery from Covid-19 that implies more attention is needed on CPI changes as the loonie continues to head north. Will CPI and retail sales figures help the loonie? The projection for the monthly CPI is for it to remain negative at [..]

Technical Analysis – USDCAD’s negative bias stalls; positive price action develops

Posted on October 16, 2020 at 6:46 am GMT

USDCAD has pushed over the 50-day simple moving average (SMA) of 1.3204 and is ready to face the mid-Bollinger band at 1.3267, following a recent bounce off the lower Bollinger band. The gliding 50- and 100-day SMAs appear to be escorting the price into a neutral-to-bearish structure. Nonetheless, the short-term oscillators are continuing to exhibit improving momentum. The MACD, marginally below its red trigger line and zero mark, looks set to return above them, sponsoring extra gains in the pair. [..]

Technical Analysis – USDCAD recedes below 200-MA; negative signals pressurize

Posted on October 13, 2020 at 7:54 am GMT

USDCAD is currently at a standstill near the red Tenkan-sen line after its retreat under the Ichimoku cloud and simple moving averages (SMAs). The subsiding 50-period SMA and the intact negative demeanour of the Ichimoku lines are endorsing a deteriorating picture. That said the horizontal 100- and 200-period SMAs favour a more neutral tone. Nonetheless, the flattened blue Kijun-sen line and the short-term oscillators propose slight improvements in momentum. The MACD, deep below zero, is strengthening above its red trigger [..]

Daily Market Comment – Stimulus talks back on but White House chaos caps stock gains

Posted on October 9, 2020 at 9:02 am GMT

Trump flip-flops on stimulus bill, reviving hopes of pre-election fiscal boost But stocks up only moderately amid caution about talks and global recovery worries Dollar drifts lower, loonie soars ahead of jobs data as oil turns bullish Trump U-turns on relief package but uncertainty about deal lingers Talks between the White House and the Democrats on a new virus relief bill have restarted after President Trump reversed his decision from just two days earlier to end them. Trump had instead [..]

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