Canadian Dollar: USD/CAD (CAD=X) strong fundamentals and a central bank likely to keep rates steady The Canadian lower dropped 0.19 percent on Friday, but given strong fundamentals and a central bank likely to keep rates steady the Loonie was the only major currency to end in the black against the greenback this week. Job numbers in Canada were lower than expected […]
Canadian Dollar: USD/CAD (CAD=X) corrected lower recently and tested the key 1.3430 support area The US Dollar remained strong above the 1.3400 level against the Canadian Dollar. The USD/CAD pair climbed towards the 1.3500 level before it started a downside correction. A swing high was formed at 1.3502 before the pair declined below the 1.3465 […]
Canadian Dollar: USD/CAD (CAD=X) Market focus will be on April’s Ivey PMI It’s also a relatively busy week ahead for the Loonie. Market focus will be on April’s Ivey PMI, due out on Tuesday, trade data on Thursday and April employment figures on Friday. With the stats having been on the quieter side since the […]
Canadian Dollar: USD/CAD (CAD=X) remains in dovish mode and policymakers have acknowledged that the economic slowdown was deeper than the bank expected USD/CAD posted gains for a second successive week, and the pair punched above the 1.35 line for the first time in 2019. This week’s key event is Canadian GDP. Here is an outlook for the highlights […]
Canadian Dollar: USD/CAD (CAD=X) underpinned by a surge in oil prices USD/CAD has edged lower in the Monday session. In the North American session, the pair is trading at 1.3372, down 0.14% on the day. It’s a quiet start to the week, with no Canadian events. In the U.S., there is only one release. Existing […]
Canadian Dollar: USD/CAD (CAD=X) release of housing starts and building permits this week USD/CAD showed limited activity last week and ended the week with slight gains. There are no major Canadian events in the upcoming week. We’ll get a snapshot of the strength of the housing sector, with the release of housing starts and building permits. The […]
Canadian Dollar: USD/CAD (CAD=X) lack of fundamental triggers to push the pair decisively in any direction The Canadian dollar today attempted to rally higher against its US counterpart in the American session after the release of the upbeat Canadian Ivey PMI data. The USD/CAD currency pair today traded mostly directionless amid a lack of fundamental triggers to push the pair decisively in any direction. The USD/CAD currency pair today rallied […]
Canadian Dollar: USD/CAD (CAD=X) Bank of Canada Governor Poloz Speech The market will be closely watching the Bank of Canada Governor Stephen Poloz’s comments regarding his market expectations. His view may help the market participants to predict the possible interest-rate movements. Canada has joined the US with regards to having an Inverted Yield Curve on 21 March. […]
Canadian Dollar: USD/CAD (CAD=X) releases GDP The Canadian dollar is up slightly on Thursday. Currently, the pair is trading at 1.3423, up 0.08%. On the release front, there are no Canadian events. In the U.S., Final GDP for the fourth quarter posted a 2.2% gain, shy of the estimate of 2.4%. Unemployment claims fell to […]
Canadian Dollar: USD/CAD (CAD=X) Facing Many Hurdles GBP/USD climbed higher and settled above the 1.3210 resistance level. USD/CAD corrected higher, but it failed to break the key 1.3370 resistance area and later declined. Important Takeaways for GBP/USD and USD/CAD The British Pound gained bullish momentum and traded above the 1.3200 resistance area. There is a […]
Canadian Dollar: USD/CAD (CAD=X) bias is neutral USD/CAD dropped to 1.3289 last week but drew support from 55 day EMA and recovered. Initial bias is neutral this week first. On the upside, break of 1.3371 minor resistance will suggest that pull back from 1.3467 has completed. That will also revive the bullish case that rise […]
Canadian Dollar: USD/CAD (CAD=X) slides on dovish BoC USD/CAD recorded strong gains for a second successive week, climbing close to 1 percent. There are only two events on the calendar in the week ahead. Here is an outlook for the highlights of this week and an updated technical analysis for USD/CAD. The Bank of Canada maintained the […]
Canadian Dollar: USD/CAD (CAD=X) opportunity for an eventual up-move towards reclaiming the 1.3400 round figure mark • The pair built on last week’s strong up-move and continued scaling higher through the mid-European session on Tuesday to hit multi-week tops in the last hour. • Yesterday’s bullish break through a short-term descending trend-line resistance was […]
Canadian Dollar: USD/CAD (CAD=X) continues its upside movement The US Dollar has been moving with low volatility against the Canadian Dollar since Monday’s trading session. The currency pair made a 67 pips movement during the last 24 hours. Everything being equal, it is likely that the currency exchange rate continues its upside movement within this […]
Canadian Dollar: USD/CAD (CAD=X) economic data has been mixed USD/CAD had an uneventful week until Friday, when a soft GDP release out of Canada sent the pair sharply higher.Traders should keep an eye on the Bank of Canada rate announcement and employment data. As well, the annual budget could impact on the pair’s movement. Here is an […]
Canadian Dollar: USD/CAD (CAD=X) buyers look to recapture near-term bullish bias Price remains supported by the key rising trendline since February last year. As buyers defended the level yesterday, price climbed back above the 200-day MA (blue line) and is now looking to contest the 100-day MA @ 1.3160 again. I would still expect sellers […]
Canadian Dollar: USD/CAD (CAD=X) investors wait for cues The Canadian dollar is quiet in the Monday session. Currently, the pair is trading at 1.1353, up 0.12% on the day. On the release front, there are no Canadian indicators, while the U.S released one minor event. On Tuesday, the U.S. posts CB Consumer Confidence. As well, […]
Canadian Dollar: USD/CAD (CAD=X) look for loonie weakness The oars aren’t rowing in the same direction for the Canadian dollar, but over the medium term, look for loonie weakness as domestic fundamentals take over from international forces. The latter pertain to the general trend in the US dollar against other majors, where 2020 should feature […]
Canadian Dollar: USD/CAD (CAD=X) grinding higher People want the Canadian dollar. The local currency was the only G-10 major to gain between yesterday’s Toronto close and this morning’s open. Oil prices have a lot to do with the move as do the quick unwinding of short Canadian dollar positions after short-term technicals turned bullish for […]
Canadian Dollar: USD/CAD (CAD=X) Continues Range Bound Action Amid Lack of Macro Data Updates USDCAD pair traded in a tight range yesterday as both Canada and United States markets were closed owing to the celebration of the national holiday. This resulted in price action being limited within a range of 20 pips. On Friday, the […]
Canadian Dollar: USD/CAD (CAD=X) resurfacing concerns over the slowdown in the global economic growth Resurfacing concerns over the slowdown in the global economic growth today weighed on the market sentiment and hurt the demand for risk-sensitive commodities. Additionally, reports of U.S. President Trump not planning to meet his Chinese counterpart Xi before the March deadline […]
Canadian Dollar: USD/CAD (CAD=X) may have fallen to the base of the channel The U.S. Dollar / Canadian Dollar exchange rate is trading at 1.3125 at the time of writing after falling to the base of its rising channel. Mixed opinions about the outlook for the Canadian Dollar probably mean the main fundamental driver for the weakness […]
Canadian Dollar: USD/CAD (CAD=X) ISM Non-Manufacturing PMI (Jan.) was released earlier and missed projections The ISM Non-Manufacturing PMI (Jan.) was released earlier and missed projections. The figure came in at 56.7, beneath estimates (57.2) and the previous report (58.0). Today’s ISM numbers continue the trend of lagging indicators that suggest a cooling of the U.S. […]
Canadian Dollar: USD/CAD (CAD=X) Canada to release Manufacturing Sales for November USD/CAD has posted small gains in the Monday session. Currently, the pair is trading at 1.3298, up 0.23% on the day. There are no U.S. or Canadian events on the schedule, so traders can expect limited movement from the pair during the day. On […]
Canadian Dollar: USD/CAD (CAD=X) consolidating after recent rebound USD/CAD is trading within a rising triangle formation, following on from a rebound late last week. The break through the $1.326 swing-high points towards potential upside coming into play. For now, it is worth watching a break of either $1.3226 or $1.3294 as a precursor to the next […]
Canadian Dollar: USD/CAD (CAD=X) rebound could point to bullish reversal USD/CAD managed to break out of its recent downtrend, with the price breaking through the crucial swing high of $1.326. That points towards a possible bullish reversal from here, with the next sell-off providing a higher low. With trendline support currently in play, a break below […]
Canadian Dollar: USD/CAD (CAD=X) continues to lose ground USD/CAD has continued its downtrend, with the breakdown through trendline support providing a remarkably consistent period of downside for the pair. Much of this is associated with the recovery in oil prices, and thus it makes sense to watch crude as a key gauge of where USD/CAD goes. […]
Canadian Dollar: USD/CAD (CAD=X) drops into trendline support USD/CAD has been on the decline throughout the start of the new year, with the price falling into and below the lower boundary of the ascending channel pattern. This raises the chances of a wider downturn for the pair, yet with the price currently challenging an ascending trendline, […]
Canadian Dollar: USD/CAD (CAD=X) 2019 Overall, the bias in prices is: Upwards. The projected upper bound is: 1.46. The projected lower bound is: 1.27. The projected closing price is: 1.36. Candlesticks A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices […]
Canadian Dollar: USD/CAD (CAD=X) losing some upside momentum USD/CAD is losing some upside momentum as seen in 4 hour MACD. But there is no sign of topping yet. Intraday bias remains on the upside at this point. Current rally should target 1.3685 fibonacci level next. Break there will target 1.3793 key medium term resistance. On […]
Canadian Dollar: USD/CAD (CAD=X) Cautious Tone in Market Amid Dovish Crude Oil Price Cautious Tone in Market Amid Dovish Crude Oil Price Limits Sharp Move on Either Side Adding to this, a modest rebound in crude oil prices extended some additional support to the commodity-linked currency – Loonie and further collaborated to the pair’s weaker […]
Canadian Dollar: USD/CAD (CAD=X) calendar is busy this week Dollar/CAD moved upwards last week, the fourth straight week that the pair has moved higher. Will the Canadian dollar continue to fall? The Canadian calendar is busy this week, with retail sales, CPI and GDP. Here are the highlights and an updated technical analysis for USD/CAD. The […]
Canadian Dollar: USD/CAD (CAD=X) remains of interest for bullish USD strategies On the side of USD-strength, USD/CAD remains of interest. Prices are holding above a bullish trend-line that got started in early-October. A group of lower-highs thus far in December may be preluding a deeper pullback, but provided that prices remain above 1.3250, the door […]
Canadian Dollar: USD/CAD (CAD=X) faltering below key resistance USD/CAD has started to slow down from its recent rebound, with the key $1.3445 level still yet to be surpassed. The inability to break that level points towards a potential bearish shift for the pair given the recent breakdown below $1.3182. Watch out for the ability or inability […]
Canadian Dollar: USD/CAD (CAD=X) rallies towards previous highs USD/CAD has been rebounding over the early part of the week, with the price moving closer to the previous peak of $1.3445. The ability to break through that level will provide us with a lot of information, given the recent question marks that come with the break below […]