#gold $XAU $GLD $USD The Fundamentals Central banks worldwide are committed to suppressing interest rates and printing money to solve their nation’s debt problems. Eventually, they will be forced to default or devalue, they will devalue. The Technicals Gold forms a major bottom every 8-yrs. The last low came in Y 2016. The next one should […]
#Dollar #rates #yields #C19coronavirus $USD $DXY $EUR $GBP $JPY EUR rose the most in a decade in July, the GBP marked its best July since Y 1990, and for the 1st time this year, every major currency in the world rose against the Buck. It is all thanks to the USD’s 4.6% dive, its biggest […]
$DX $.DXY $USD $JPY $EUR $GBP $CAD Tuesday, the USD reversed late in the session and is now trading lower against a basket of major currencies. The selling pressure is being led by a strong upward surge in the Euro. The Canadian Dollar is also making a comeback along with the British Pound. The Japanese Yen has been strong all session […]
Canadian Dollar: USD/CAD (CAD=X) follows gains versus big dollar, ignores $3+ drop in crude prices The CAD is modestly firmer versus the USD but gains remain light relative to the AUD and NZD on the day—AUDCAD is trading at its highest levelsince the start of the year. We are bullish on the cross and look […]
Canadian Dollar: USD/CAD (CAD=X) higher as traders digest the disappointing U.S. retail sales data The Canadian dollar finally found some support overnight, after free-falling since Tuesday, and it had nothing to do with any domestic reasons. Canadian dollar direction, like the rest of the G-10 majors, continues to be dictated by broad U.S.-dollar sentiment. That […]
$USD Last time I looked, USD was on pace for a weekly loss Friday as the Fed’s massive new Big Bang lending program for small companies and sa slowdown in coronavirus infections reduced safe-haven demand. The GBP pulled ahead against the dollar and the euro as markets breathed a sigh of relief after British PM […]
Canadian Dollar: USD/CAD (CAD=X) continues to firm as risk sentiment improves The Canadian dollar continues to gain against the US dollar as global risk sentiment remains positive in the short-term. USD/CAD rose had one of its best month’s in the last three years in March, rallying from around 1.3400 to a peak of 1.4670 before […]
Canadian Dollar: USD/CAD (CAD=X) Stuck Between U.S. Initial Jobless Claims And Trump Tweet Canadian Dollar Receives Support From A Surge In Oil Prices Following Trump Tweet USD/CAD had another volatile trading session today. First, the U.S. dollar got a boost due to safe haven asset buying following the release of the U.S. Initial Jobless Claims. The release […]
Canadian Dollar: USD/CAD (CAD=X) Risk-Off Mode Helps U.S. Dollar USD/CAD moved higher as riskier assets experienced sell-off due to coronavirus-related worries. Three countries – U.S., Italy and Spain – have more than 100,000 cases each, and the U.S. is close to 200,000 cases. Recently, German Chancellor Angela Merkel indicated that social distancing measures will be in […]
Canadian Dollar: USD/CAD (CAD=X) continues to experience major volatility USD/CAD continues to experience major volatility. The pair managed to settle above the resistance level at 1.4150, which opened the path to the test of the resistance level at 1.4330. However, a surprisingly good release of the Chicago PMI for March (47.8 vs consensus of 40) led […]
Canadian Dollar: USD/CAD (CAD=X) sank with crude oil prices despite rally on Wall Street The Canadian Dollar was one of the worst-performing major currencies to start the week, depreciating alongside crude oil prices. WTI declined -7.27% to an 18-year low amid ongoing bearish fundamental themes, the coronavirus outbreak and a global supply glut. The commodity […]
$VXX $USD $GBP $EUR $XAU $GLD Keeping tabs on the overall market correlation across assets on the risk or safe haven side was my focus at the weekend. Even though things eased last week with over $5-T in sidelined cash coming back in just 4 days, circumstances might see it snap back into the Bear’s […]
$USD $.DXY The Buck posted its biggest weekly decliner in more than 10 yrs Friday, as trillions of dollars worth of aid/stimulus efforts by governments and central banks helped temper a rout in global markets driven by the coronavirus pandemic. The USD surged in March as tumbling stock and debt markets caused a scramble for […]
Market Optimism Lifts The Canadian Dollar: USD/CAD (CAD=X) USD/CAD breached the 1.4330 support level and quickly moved closer to the 1.4000, supported by broad U.S. dollar weakness. The U.S. Dollar Index corrected from 104 to 100 in a matter of several days, so many currencies have experienced material upside against the U.S. dollar. Many asset classes […]
Canadian Dollar: USD/CAD (CAD=X) Shows Strength Despite Oil Price Weakness Markets Stay Optimistic For Now, Leading To Weakness In The U.S. Dollar The Canadian dollar is showing strength despite continued weakness in oil, which is hurt by prospects of worsening oil demand. The U.S. Dollar Index was in a correction mode today and almost touched 101 but […]
Weak Oil Continues To Put Pressure On The Canadian DollarCanadian Dollar: USD/CAD (CAD=X) USD/CAD continues its attempts to settle above 1.4500 and maintain the upside trend despite the broad-based weakness in the U.S. dollar. The U.S Dollar Index has left the 103 – 104 area and is currently located near the 102 level due to risk-on […]
Canadian Dollar: USD/CAD (CAD=X) faces heavy selling pressure as oil plunged to levels not seen since 2003 Yesterday, Canadian dollar faced heavy selling pressure as oil plunged to levels not seen since 2003. Today, oil is getting support from bargain hunters as well as from the U.S. government, which decided to purchase 30 million barrels of oil […]
Canadian Dollar: USD/CAD (CAD=X) – Panic Selling Pushes Canadian Dollar To New Lows There’s panic in the markets today, and USD/CAD is no exception. As the U.S. Dollar Index raced through the important 100 level, the U.S. dollar gained a lot of ground against many currencies. Even more importantly, the Canadian dollar suffered a fundamental blow due […]
Canadian Dollar: USD/CAD (CAD=X) Points Downward Again The Canadian dollar plunged deeper overnight. It was not alone. U.S. President Trump addressed the Nation on Wednesday night, announcing a travel ban from Europe to the U.S. He said “The European Union failed to take the same precautions and restrict travel from China and other hotspots. As […]
Canadian Dollar: USD/CAD (CAD=X) Tanking The Canadian dollar is underwater, although not as deep as it was yesterday. USD/CAD spiked to $1.3795 from $1.3635 yesterday due to a wave of U.S. dollar demand against the major G-10 currencies. U.S. President Trump’s plan to eliminate payroll taxes for the rest of the year, and promises to […]
Canadian Dollar: USD/CAD (CAD=X) Stimulated The Canadian dollar outperformed its G-10 major currency peers in overnight trading, thanks to U.S. President Trump’s stimulus plans. Trump is expected to announce measures to alleviate some of the impacts to hourly workers from the coronavirus. He said, “We’re going to be talking about hourly wage earners getting help […]
Canadian Dollar: USD/CAD (CAD=X) Takes Header The Canadian dollar fell off a cliff overnight. It lost nearly 2.5% after oil prices collapsed. West Texas Intermediate (WTI) oil prices plunged over 30% after Saudi Arabia triggered an oil price war. Asia traders panicked, driving USD/CAD from a closing level of $1.3425 on Friday to a peak […]
Canadian Dollar: USD/CAD (CAD=X) breakout yet to gain a full head of steam USD/CAD broke out last week above a key long-term threshold in the form of the 2016 trend-line, and is pressing on staying above the September high at 13382. The big-picture (weekly) chart has a solidly bullish tilt to it. It’s getting the […]
British Pound: USD/GBP (GBP=X) New BoE Governor Doesn’t See Urgency for Rate Cut The Federal Reserve felt that the potential damage the Coronavirus might have warranted a larger than usual emergency 50 basis point rate cut earlier this week. Andrew Bailey, who will be replacing BoE Governor Mark Carney on March 18, said yesterday that […]
Canadian Dollar: USD/CAD (CAD=X) has gyrated around back-to-back interest rate cuts from the Federal Reserve and Bank of Canada this week The direction of USD/CAD has edged higher by more than 3% so far this year. Strength in the US Dollar relative to its Canadian Dollar counterpart since January can be broadly attributed to market […]
Canadian Dollar: USD/CAD (CAD=X) Reacts to Fed Rate Cut The Canadian dollar is vulnerable to renewed selling pressure after the U.S. Federal Reserve surprised markets yesterday. The Fed slashed the Fed Funds range to 1.0-1.5% from 1.5-1.75%, in the first in rate action between scheduled meetings since 2008. The Fed statement was short and to […]
Canadian Dollar: USD/CAD (CAD=X) Awaiting BOC The Canadian dollar see-sawed in a reasonably narrow trading range overnight. USD/CAD drifted between $1.3321 and $1.3367 as traders focused on global stock market price action. The G-7 are reportedly preparing a response to the coronavirus outbreak. Comments by various central bank chiefs, including the U.S. Federal Reserve Chair […]
Canadian Dollar: USD/CAD (CAD=X) on the Rebound The Canadian dollar stepped back from the abyss seen on Friday. USD/CAD climbed steadily peaking at $1.3455 as COVID-19 pandemic fears gripped financial markets. The Dow Jones Industrial Average was threatening to close with another 1,000-point loss, and oil prices were in free-fall. Then Federal Reserve Chair Jerome […]
Canadian Dollar: USD/CAD (CAD=X) working on a long-term breakout USD/CAD is on the verge of confirming what could turn out to be a major development as we roll towards a new week of trading. And it’s been a while in the making if the pair does indeed take out some key levels soon. To provide […]
Canadian Dollar: USD/CAD (CAD=X) at Tipping Point The Canadian dollar did not participate in the broad U.S. dollar selloff overnight. Instead, it was sold due to the ongoing slide in crude oil prices, elevated expectations that the Bank of Canada will cut interest rates next week, and heightened fears that the railway blockades will negatively […]
Canadian Dollar: USD/CAD (CAD=X) Suffering from Pandemic Worries All it took was for the U.S. Centers for Disease Control and Prevention to issue a press release, warning that the coronavirus could cause a pandemic, to spark panic on Wall Street yesterday. That set the tone for equity and FX markets overnight and kept the Canadian […]
Canadian Dollar: USD/CAD (CAD=X) Worried by Wall Street Woes Wall Street stock prices were knocked for a loop yesterday, and those losses weighed on the Canadian dollar. The Dow Jones Industrial Average gave back all February’s gains in a one-day 3.56% plunge in the benchmark index. The S&P 500 and NASDAQ followed the DJIA lower. […]
Canadian Dollar: USD/CAD (CAD=X) Drops with Oil Prices The Canadian dollar plunged overnight, following a 4.2% drop in West Texas Intermediate oil prices. WTI closed Friday at $53.46 U.S., then plummeted to $51.22 overnight. Prices are hovering just above their overnight low, in early Toronto trading. A steep jump in the number of coronavirus cases […]
Canadian Dollar: USD/CAD (CAD=X) Underpinned by Crude Prices The Canadian dollar crept higher yesterday despite the domestic inflation data giving the Bank of Canada another excuse to reduce interest rates. USD/CAD closed at $1.3220 yesterday supported in part by West Texas Intermediate oil prices jumping 8.3% since February 10. Statistics Canada reported Consumer Price Index […]
Canadian Dollar: USD/CAD (CAD=X) Eyes FOMC Minutes & Canadian CPI Feb 19, 2020 8:30 AM +10:00 Rich Dvorak, Junior Analyst USD price action has risen an impressive 3.2% year-to-date according to performance in the US Dollar Index. The astounding ascent recorded by the US Dollar over the last several trading sessions has pushed the DXY […]
Canadian Dollar: USD/CAD (CAD=X) chart highlights uptrend correction On Feb 10, USD/CAD rallied to its highest price in four months at 1.3329. However, the market retreated last week as some bulls seemed to cut back. This week, the pair rebounded from 1.3225 – its lowest level nearly three weeks. Alongside that, the Relative Strength Index […]
Canadian Dollar: USD/CAD (CAD=X) back to support, aided by a marginal pick-up in the price of oil The Canadian Dollar continues its recent outperformance against the US dollar and is currently pressing down on a noted support zone. USD/CAD has turned lower after hitting a four-month high last week, helped by a small rally in […]
Canadian Dollar: USD/CAD (CAD=X) under pressure as oil prices fell as Chinese demand continued to weaken Exchange Rates UK: Over the course of the week, the Canadian Dollar (CAD) rose against both the US Dollar (USD) and Euro (EUR), but fluctuated against the Pound (GBP). On Monday, the ‘Loonie’ was left under pressure as oil […]
Canadian Dollar: USD/CAD (CAD=X) Rally Stalling The Canadian dollar drifted higher steadily this week, but the rally seems to have stalled overnight. USD/CAD was unable to extend losses below support in the $1.3240 area and inched higher overnight. Bank of Canada Governor Stephen Poloz was in Melbourne, Australia, attending a meeting of the Australia Canada […]
Canadian Dollar: USD/CAD (CAD=X) Scratches Higher The Canadian dollar managed to scratch out a small gain overnight, and domestic developments did not have anything to do with the move. The Canadian dollar got a lift from a shift in global risk sentiment, which turned positive on coronavirus developments. China reported that the number of new […]
Canadian Dollar: USD/CAD (CAD=X) continues to ignore domestic developments Federal Finance Minister Bill Morneau taxed his brain and concluded that the coronavirus would have a significant impact on the Canadian economy. He told a Calgary audience, “I do want to acknowledge that the virus is undoubtedly going to have an economic impact.” He went on […]
Canadian Dollar: USD/CAD (CAD=X) Dollar Directionless with Negative Bias The Canadian dollar inched higher overnight, alongside commodity bloc currency gains. Those gains may have more to do with profit-taking than a change in sentiment. If anything, sentiment has gotten worse. The U.K. government declared the coronavirus a “serious and imminent threat to public health.” China […]
Canadian Dollar: USD/CAD (CAD=X) Reacts Oil Price Plunge The Canadian dollar is on the defensive after a steep drop in oil prices to start the week. West Texas Intermediate (WTI), the North American benchmark price for crude, gapped lower at the Asia open, and it knocked the Canadian dollar down, in the process. Both instruments […]
Canadian Dollar: USD/CAD (CAD=X) is finding itself up against a formidable area of resistance USD/CAD has had a strong rally to start the year, but it is about to get tested. The pair is finding itself up against a formidable area of resistance as a new week rolls around, and could determine whether we are […]
Canadian Dollar: USD/CAD (CAD=X) Undermined by Risk Aversion The Canadian dollar continued to sink overnight, weighed down by ongoing risk-aversion sentiment. The Wuhan coronavirus has claimed 170 lives as of January 30, a 28% increase from the day before. The number of confirmed cases sits at 7,711. World leaders are getting nervous. The Philippines and […]
Canadian Dollar: USD/CAD (CAD=X) Coronavirus dominates headlines and hampers risk appetite The Canadian dollar inched lower overnight, continuing the trend that began following the Bank of Canada monetary policy meeting of January 22. That meeting is not entirely to blame for the Canadian dollar weakness, although it bears the bulk of the responsibility. The Bank […]
Canadian Dollar: USD/CAD (CAD=X) Slides As Bank Of Canada “Sounds Alarm” And Coronavirus Prompts Oil Prices To Tumble 4% The Canadian dollar exchange rates suffered a doubly whammy on Wednesday afternoon after contrary to many analyst expectations the Bank of Canada (BoC) statement was “extremely dovish”. “In December they said inflation was “consistent with an […]