Canadian Dollar: USD/CAD (CAD=X) Technicals You Need to Know this Week

Canadian Dollar: USD/CAD (CAD=X) Technicals You Need to Know this Week

$CAD #Canadian #FX #Trade #Markets #KnightsbridgeLive #USDCAD Canadian DollarTicker: CAD=Price: 1.3104 Open an Account with Knightsbridge Live Today! USD/CAD Outlook USDCAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving […]

Trade the Canadian Dollar: USD/CAD (CAD=X) Within 60 Days of Account Opening to Earn a Bonus Based on Your Deposit Amount

Trade the Canadian Dollar: USD/CAD (CAD=X) Within 60 Days of Account Opening to Earn a Bonus Based on Your Deposit Amount

$CAD #Canadian #FX #Trade #Markets #KnightsbridgeLive #USDCAD Canadian DollarTicker: CAD=Price: 1.3075 Open an Account with Knightsbridge Live Today! USD/CAD Outlook USDCAD is now close to its 20, 50 and 100 day averages, located at 1.3157, 1.3199 and 1.3289 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on […]

Canadian Dollar: USD/CAD (CAD=X) follows gains versus big dollar, ignores $3+ drop in crude prices

Canadian Dollar: USD/CAD (CAD=X) follows gains versus big dollar, ignores $3+ drop in crude prices

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

Canadian Dollar: USD/CAD (CAD=X) higher as traders digest the disappointing U.S. retail sales data

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 […]

Canadian Dollar: USD/CAD (CAD=X) continues to firm as risk sentiment improves

Canadian Dollar: USD/CAD (CAD=X) continues to firm as risk sentiment improves

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: USD/CAD (CAD=X) Stuck Between U.S. Initial Jobless Claims And Trump Tweet

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

Canadian Dollar: USD/CAD (CAD=X) Risk-Off Mode Helps U.S. Dollar

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

Canadian Dollar: USD/CAD (CAD=X) continues to experience major volatility

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 […]

Market Optimism Lifts The Canadian Dollar: USD/CAD (CAD=X)

Market Optimism Lifts The Canadian Dollar: USD/CAD (CAD=X)

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

Canadian Dollar: USD/CAD (CAD=X) Shows Strength Despite Oil Price Weakness

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 […]

Canadian Dollar: USD/CAD (CAD=X) faces heavy selling pressure as oil plunged to levels not seen since 2003

Canadian Dollar: USD/CAD (CAD=X) faces heavy selling pressure as oil plunged to levels not seen since 2003

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

Canadian Dollar: USD/CAD (CAD=X) – Panic Selling Pushes Canadian Dollar To New Lows

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

Canadian Dollar: USD/CAD (CAD=X) Points Downward Again

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

Canadian Dollar: USD/CAD (CAD=X) Tanking

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) Takes Header

Canadian Dollar: USD/CAD (CAD=X) Takes Header

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

Canadian Dollar: USD/CAD (CAD=X) breakout yet to gain a full head of steam

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 […]

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

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

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

Canadian Dollar: USD/CAD (CAD=X) Reacts to Fed Rate Cut

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

Canadian Dollar: USD/CAD (CAD=X) Awaiting BOC

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

Canadian Dollar: USD/CAD (CAD=X) on the Rebound

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) Suffering from Pandemic Worries

Canadian Dollar: USD/CAD (CAD=X) Suffering from Pandemic Worries

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) Underpinned by Crude Prices

Canadian Dollar: USD/CAD (CAD=X) Underpinned by Crude Prices

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

Canadian Dollar: USD/CAD (CAD=X) Eyes FOMC Minutes & Canadian CPI   Feb 19, 2020 8:30 AM +10:00 Rich Dvorak, Junior Analyst

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) under pressure as oil prices fell as Chinese demand continued to weaken

Canadian Dollar: USD/CAD (CAD=X) under pressure as oil prices fell as Chinese demand continued to weaken

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

Canadian Dollar: USD/CAD (CAD=X) Rally Stalling

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) Reacts Oil Price Plunge

Canadian Dollar: USD/CAD (CAD=X) Reacts Oil Price Plunge

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

Canadian Dollar: USD/CAD (CAD=X) is finding itself up against a formidable area of resistance

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

Canadian Dollar: USD/CAD (CAD=X) Undermined by Risk Aversion

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

Canadian Dollar: USD/CAD (CAD=X) Coronavirus dominates headlines and hampers risk appetite

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%

Canadian Dollar: USD/CAD (CAD=X) Slides As Bank Of Canada “Sounds Alarm” And Coronavirus Prompts Oil Prices To Tumble 4%

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 […]

Canadian Dollar: USD/CAD (CAD=X) Price Skyrockets Over $1.31 On Dovish Bank Of Canada Statement

Canadian Dollar: USD/CAD (CAD=X) Price Skyrockets Over $1.31 On Dovish Bank Of Canada Statement

Canadian Dollar: USD/CAD (CAD=X) Price Skyrockets Over $1.31 On Dovish Bank Of Canada Statement The USD/CAD has burst higher today on the dovish Bank of Canada (BoC) monetary policy statement. Compared to this morning’s price, USD/CAD trades more than 100 pips higher.  Fundamental analysis: BoC unexpectedly dovish Bank of Canada left its key policy rate […]

Canadian Dollar: USD/CAD (CAD=X) Risks Tilted To Downside Ahead Of Bank Of Canada Meeting

Canadian Dollar: USD/CAD (CAD=X) Risks Tilted To Downside Ahead Of Bank Of Canada Meeting

Canadian Dollar: USD/CAD (CAD=X) Risks Tilted To Downside Ahead Of Bank Of Canada Meeting “The Bank of Canada meets tomorrow, and we expect no change in the monetary stance (in line with consensus). However, we suspect markets have too aggressively priced out BoC easing and the balance of risks for CAD appears tilted to the […]

Canadian Dollar: USD/CAD (CAD=X) Bank Of Canada’s (BoC) Anticipated Decision In Focus

Canadian Dollar: USD/CAD (CAD=X) Bank Of Canada’s (BoC) Anticipated Decision In Focus

Canadian Dollar: USD/CAD (CAD=X) Bank Of Canada’s (BoC) Anticipated Decision In Focus The Canadian Dollar is being supported by various global and domestic factors, but investors have also been hesitant to move too much on the currency amid anticipation for major data and Bank of Canada (BoC) news next week. Illustrating the Canadian Dollar’s resilience […]

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment The Canadian dollar is trading sideways. It bounced around in a narrow USD/CAD range of $1.3035-$1.3046 overnight, unable to garner any traction in either direction. There aren’t any top-tier domestic economic data available until next Wednesday when the Canadian inflation report is released. That is the […]

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend?

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend?

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend? US Dollar weakness is expected to accelerate in 2020, and the Canadian Dollar was one of the best performers against the world’s top reserve currency. The most recent intra-day low in the USD/CAD marked a lower low, keeping the long-term downtrend intact. A recovery […]

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction The Canadian dollar tried to rally last week but failed. Slightly dovish comments by Bank of Canada Governor Stephen Poloz combined with broad-based U.S. dollar demand against the major G-10 currencies and a sharp drop in West Texas Intermediate oil prices, fueled Canadian dollar selling. Canadian dollar bulls hoped […]

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown USDCAD closed out 2019 on the defensive and made a crucial weekly/monthly close below long-term support zone of (1.2950 – 1.3165) drawn off the 2015-17 support zone for the USD on the longer run charts. Although the pair has been attempting show some minor rallies from last 2-3 […]

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience The Canadian demonstrated its resilience overnight. The U.S. dollar squeezed out gains against the major G-10 currencies, yet USD/CAD managed to remain below the psychologically important $1.3000 level. Markets are content to believe that U.S./Iran tensions have eased because Iran has yet to retaliate for the U.S. killing of […]

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000 USD/CAD closed the final week of last year with a charge below the 2012 trend-line, also creating a lower low from July by declining below 13000. Breaks during thinner holiday trade aren’t ideal, but for now will run with it as long as a sharp reversal doesn’t […]

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation The Canadian Dollar may be on the verge of extending its advance against the US Dollar and ending prolonged consolidation since the Summer of 2019. USD/CAD took out lows from July after clearing support at 1.3017, but follow-through has been somewhat lacking. Clearing immediate […]

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year The Canadian dollar may struggle in 2020 to top its stellar performance from this year. That’s the message from the global head of foreign-exchange strategy at Credit Suisse who expects the tailwinds seen in 2019 to fade. While risk-sensitive currencies like the loonie should perform well […]

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC The Canadian dollar rallied ahead of and then after yesterday’s Federal Open Market Committee policy meeting statement. The FOMC left interest rates unchanged which was universally expected, as was the dovish policy statement. The Committee members are predicting that the Fed Funds rate will stay in the 1.50%-1.75% range […]

Canadian Dollar: USD/CAD (CAD=X) Dips on Soft Job Numbers

Canadian Dollar: USD/CAD (CAD=X) Dips on Soft Job Numbers

Canadian Dollar: USD/CAD (CAD=X) Dips on Soft Job Numbers Last week was busy for the Canadian dollar. The currency dropped below 1.32 and touched a 1-month high on Thursday, but reversed directions on Friday and lost ground. USD/CAD took advantage as Canadian employment numbers sagged, while U.S. nonfarm payrolls were much stronger than expected. In […]

Canadian Dollar: USD/CAD (CAD=X) Sunk by Jobs Data

Canadian Dollar: USD/CAD (CAD=X) Sunk by Jobs Data

Canadian Dollar: USD/CAD (CAD=X) Sunk by Jobs Data The Canadian dollar was torpedoed on Friday. A surprisingly robust U.S. non-farm payrolls report combined with an extremely poor Canadian Labour Force survey blew the Canadian dollar out of the water. USD/CAD soared to $1.3267 from $1.3170 in a heartbeat. Canada lost 71,200 jobs in November. Even […]

Canadian Dollar: USD/CAD (CAD=X) remains largely flat at the start of the week as UK manufacturing data disappointed

Canadian Dollar: USD/CAD (CAD=X) remains largely flat at the start of the week as UK manufacturing data disappointed

Canadian Dollar: USD/CAD (CAD=X) remains largely flat at the start of the week as UK manufacturing data disappointed However, on Tuesday the pairing edged up after further PMI data showed the construction sector saw the slowest decline in output since July. Meanwhile, oil prices edged up in the hopes OPEC and allies would agree to […]

Canadian Dollar: USD/CAD (CAD=X) higher following a surprisingly hawkish tone to the Bank of Canada (BoC) monetary policy statement

Canadian Dollar: USD/CAD (CAD=X) higher following a surprisingly hawkish tone to the Bank of Canada (BoC) monetary policy statement

Canadian Dollar: USD/CAD (CAD=X) higher following a surprisingly hawkish tone to the Bank of Canada (BoC) monetary policy statement The Canadian dollar soared yesterday, following a surprisingly hawkish tone to the Bank of Canada (BoC) monetary policy statement. The BoC left interest rates unchanged, as expected but it had a somewhat optimistic economic outlook. The […]

Canadian Dollar: USD/CAD (CAD=X) traders digesting Bank of Canada monetary policy meeting

Canadian Dollar: USD/CAD (CAD=X) traders digesting  Bank of Canada monetary policy meeting

Canadian Dollar: USD/CAD (CAD=X) traders digesting Bank of Canada monetary policy meeting The Canadian dollar inched higher overnight, despite a somewhat risk-averse environment. Canadian dollar traders were digesting today’s Bank of Canada monetary policy meeting and Governor Stephen Poloz’s press conference. Back in the summer, analysts were forecasting that the BoC would cut rates in […]

Canadian Dollar: USD/CAD (CAD=X) BoC Expected to Stand Pat

Canadian Dollar: USD/CAD (CAD=X) BoC Expected to Stand Pat

Canadian Dollar: USD/CAD (CAD=X) BoC Expected to Stand Pat The Bank of Canada holds its monthly policy meeting on Wednesday. The bank has pegged the benchmark rate at 1.75% for over a year, and no change is expected at the upcoming meeting. The Canadian economy is expected to grow by 1.3% in the third quarter, […]

Canadian Dollar: USD/CAD (CAD=X) faces BoC rate decision and November employment data

Canadian Dollar: USD/CAD (CAD=X) faces BoC rate decision and November employment data

Canadian Dollar: USD/CAD (CAD=X) faces BoC rate decision and November employment data The Pound-to-Canadian-Dollar rate is tipped by technical analysts to remain supported in the days ahead, although an apparent ebbing of support for Prime Minister Boris Johnson’s party in pre-election opinion polls could mean the British currency is vulnerable to losses early in the […]

Canadian Dollar: USD/CAD (CAD=X) Quiet After Mixed Retail Sales Data

Canadian Dollar: USD/CAD (CAD=X) Quiet After Mixed Retail Sales Data

Canadian Dollar: USD/CAD (CAD=X) Quiet After Mixed Retail Sales Data Canadian consumers have not been in the best of moods, as recent retail sales reports have been weak. On Friday, the September retail sales were a mixed bag. Retail sales posted a second straight decline of 0.1%, but managed to beat the estimate of -0.3%. […]

Canadian Dollar: USD/CAD (CAD=X) sticks to narrow range as railway strike ends

Canadian Dollar: USD/CAD (CAD=X) sticks to narrow range as railway strike ends

Canadian Dollar: USD/CAD (CAD=X) sticks to narrow range as railway strike ends The Canadian dollar was little changed against the greenback on Tuesday as investors weighed fresh signs of progress toward a U.S.-China trade deal and a deal was reached to end a railway strike that threatened to slow Canada’s economic growth. Teamsters Canada and […]

Canadian Dollar: USD/CAD (CAD=X) Recoups Some Losses

Canadian Dollar: USD/CAD (CAD=X) Recoups Some Losses

Canadian Dollar: USD/CAD (CAD=X) Recoups Some Losses The Canadian dollar closed Friday’s session with a small loss compared to its opening level. It was not alone. The rest of the G-10 major currency pairs suffered a similar fate, led by slides in EUR/USD and GBP/USD. Canadian dollar weakness was exacerbated by Retail Sales data exacerbated […]

Canadian Dollar: USD/CAD (CAD=X) Slumps As BOC Governor Signals Confidence

Canadian Dollar: USD/CAD (CAD=X) Slumps As BOC Governor Signals Confidence

Canadian Dollar: USD/CAD (CAD=X) Slumps As BOC Governor Signals Confidence Positive Signal from BOC Governor Drives US Dollar Canadian Dollar (USD/CAD) Exchange Rate Lower Comments from Bank of Canada (BOC) Governor Stephen Poloz prompted a sharp decline for the US Dollar to Canadian Dollar (USD/CAD) exchange rate on Thursday. As Poloz indicated that he sees […]

Canadian Dollar: USD/CAD (CAD=X) suffers from a downturn in risk sentiment

Canadian Dollar: USD/CAD (CAD=X) suffers from a downturn in risk sentiment

Canadian Dollar: USD/CAD (CAD=X) suffers from a downturn in risk sentiment The Canadian dollar is rangebound no more. Prices soared through the top of the USD/CAD $1.3040-$1.3240 band that contained price action since October 11 yesterday and continued to climb overnight. That move is a sharp contrast to the move that occurred immediately following Tuesday […]

Canadian Dollar: USD/CAD (CAD=X) trapped inside of $1.3040-1.3260 range

Canadian Dollar: USD/CAD (CAD=X) trapped inside of $1.3040-1.3260 range

Canadian Dollar: USD/CAD (CAD=X) trapped inside of $1.3040-1.3260 range The Canadian dollar is trapped inside a USD/CAD $1.3040-1.3260 range and has been, since October 11. There isn’t any relief in sight. The Bank of Canada left monetary policy unchanged at the October 30 meeting, and there hasn’t been any new data or geopolitical developments since […]

Canadian Dollar: USD/CAD (CAD=X) investors are braced for a poor reading from Manufacturing Production

Canadian Dollar: USD/CAD (CAD=X) investors are braced for a poor reading from Manufacturing Production

Canadian Dollar: USD/CAD (CAD=X) investors are braced for a poor reading from Manufacturing Production USD/CAD is trading sideways on Monday. In the North American session, the pair is trading at 1.3209, down 0.12% on the day. On the fundamental front, investors are braced for a poor reading from Manufacturing Production, with a forecast of -0.5%. There […]

Canadian Dollar: USD/CAD (CAD=X) CPI indicated that the Bank of Canada could trigger central bank divergence

Canadian Dollar: USD/CAD (CAD=X) CPI indicated that the Bank of Canada could trigger central bank divergence

Canadian Dollar: USD/CAD (CAD=X) CPI indicated that the Bank of Canada could trigger central bank divergence With the strong oil prices and BOC’s likely monetary policy divergence, the USD/CAD pair drops to 1.3290 during Thursday’s Asian session. Following better than forecast Consumer Price Index (CPI) data from Canada, speculations were on the rounds that the […]

Canadian Dollar: USD/CAD (CAD=X) inflation is expected to slip below target

Canadian Dollar: USD/CAD (CAD=X) inflation is expected to slip below target

Canadian Dollar: USD/CAD (CAD=X) inflation is expected to slip below target The latest look at Canadian inflation today is expected to show price pressures easing in July from 2% down to 1.7%, while the core reading is expected to nudge 0.1% lower to 2.1%. If either of these expectations are missed on the downside, markets […]

Canadian Dollar: USD/CAD (CAD=X) price reflecting the buyer’s indecision to keep pushing higher

Canadian Dollar: USD/CAD (CAD=X) price reflecting the buyer’s indecision to keep pushing higher

Canadian Dollar: USD/CAD (CAD=X) price reflecting the buyer’s indecision to keep pushing higher On August 15, USD/CAD rallied to 1.3339 however, at this day the pair closed with a Doji candlestick, reflecting the buyer’s indecision to keep pushing the price higher. Consequently, the following day the price tested its weekly low. On August 14, the […]

Canadian Dollar: USD/CAD (CAD=X) rise marked by grinding price action, may fail

Canadian Dollar: USD/CAD (CAD=X) rise marked by grinding price action, may fail

Canadian Dollar: USD/CAD (CAD=X) rise marked by grinding price action, may fail The U.S. Dollar has been rallying against the Canadian Dollar since last month, but the rise in USDCAD hasn’t been particularly strong and has slowed even further in recent sessions. Sluggish price action suggests a break to the downside could soon be in the works. But before […]

Canadian Dollar: USD/CAD (CAD=X) further rise is still expected

Canadian Dollar: USD/CAD (CAD=X) further rise is still expected

Canadian Dollar: USD/CAD (CAD=X) further rise is still expected USD/CAD was bounded in consolidation below 1.3345 last week. Outlook is unchanged and initial bias stays neutral this week first. With 1.3177 minor support intact, further rise is still expected. On the upside, break of 1.3345 will extend the rebound from 1.3016 to 1.3564/3664 resistance zone. […]

Canadian Dollar: USD/CAD (CAD=X) nears resistance potential

Canadian Dollar: USD/CAD (CAD=X) nears resistance potential

Canadian Dollar: USD/CAD (CAD=X) nears resistance potential The topside theme has continued in USD/CAD after the earlier-week visit back down to 1.3200. As looked at yesterday, the big question is for how long this recovery might last and it looks as though prices are poised to soon set a fresh three-week-high. But, just above is an area of […]

Canadian Dollar: USD/CAD (CAD=X) retracement continues

Canadian Dollar: USD/CAD (CAD=X) retracement continues

Canadian Dollar: USD/CAD (CAD=X) retracement continues It was a month ago now that USD/CAD had bottomed-out. While the pair had spent much of the prior 17 months trending-higher, sticking to a bullish trendline for much of the time, the month of June brought a strong change of pace as the US Dollar fell while the Canadian Dollar […]

Canadian Dollar: USD/CAD (CAD=X) may soon bring bearish interest

Canadian Dollar: USD/CAD (CAD=X) may soon bring bearish interest

Canadian Dollar: USD/CAD (CAD=X) may soon bring bearish interest In the still developing camp of potential USD-weakness scenarios, USD/CAD may soon become of interest. The pair was in a hard-bearish trend during June and the first-half of July, eventually finding support just above the 1.3000 handle. A bullish reversal then followed and that’s lasted pretty much ever […]

Canadian Dollar: USD/CAD (CAD=X) economic calendar will be quiet with only the ADP payroll data and foreign securities purchases

Canadian Dollar: USD/CAD (CAD=X) economic calendar will be quiet with only the ADP payroll data and foreign securities purchases

Canadian Dollar: USD/CAD (CAD=X) economic calendar will be quiet with only the ADP payroll data and foreign securities purchases Canadian economic calendar will be quiet with only the ADP payroll data and foreign securities purchases on Thursday and Friday respectively. US inflation and the ongoing saga of trade headlines will guide the market as the […]

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data

Canadian Dollar: USD/CAD (CAD=X) traders will continue to navigate uncertain waters awaiting domestic employment data The central banks of India, Thailand and New Zealand cut their benchmark interest rates on Wednesday as policy makers start walking the dovish walk. The Bank of Canada (BoC) had some breathing room after the Fed cut by 25 basis […]

Canadian Dollar: USD/CAD (CAD=X) resiliently moving upward

Canadian Dollar: USD/CAD (CAD=X) resiliently moving upward

Canadian Dollar: USD/CAD (CAD=X) resiliently moving upward The Loonie pair rang the opening bell on Wednesday near 1.3281 level and displayed a slight bearish price action. Anyhow, the pair took a bounce off from the stable 1.3271 support handle, moving upside. At 03:00 GMT, the USD/CAD pair was making rounds near 1.3315 multiple month top mark with […]

Canadian Dollar: USD/CAD (CAD=X) breakout testing initial resistance hurdle near six-week highs

Canadian Dollar: USD/CAD (CAD=X) breakout testing initial resistance hurdle near six-week highs

Canadian Dollar: USD/CAD (CAD=X) breakout testing initial resistance hurdle near six-week highs The Canadian Dollar is down nearly 2% against US Dollar with USD/CAD rallying to fresh six-week highs on the back of last month’s breakout. Despite broader Dollar weakness, Loonie has remains vulnerable with the immediate focus now on near-term uptrend resistance. These are […]

Canadian Dollar: USD/CAD (CAD=X) bulls might overtake the bears in the long run

Canadian Dollar: USD/CAD (CAD=X) bulls might overtake the bears in the long run

Canadian Dollar: USD/CAD (CAD=X) bulls might overtake the bears in the long run During the early hours, the Loonie pair had already shifted gears, shooting up from 1.3192 bottom mark to 1.3243 level. Laterwards, the pair appeared to slow down, maintaining a consolidation near 1.3226 level. Meantime, the Crude prices had appeared to drop since last Friday as the […]