Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground

Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground

Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground USD/CAD has recorded slight gains on Wednesday. In the North American session, the pair is trading at 1.3182, up 0.21%. Canadian Ivey PMI Loses Ground Canada’s Ivey PMI remained in contraction territory for a second straight month, with a weak reading of 48.2 in October. This was […]

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120 USD/CAD has been range-bound in November, as the pair remains lackluster. On the downside, there is immediate support at 1.3120, and this line is vulnerable to a breakout. The 50-EMA, which is currently at 1.3185, has been a resistance line since last week, which is indicative of a […]

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals Where USD managed to get ahead was against the Canadian Dollar. Earlier in the week, USD/CAD formed a bullish reversal pattern (Morning Star) and swiftly turned higher thereafter – as expected. Prices then closed above the key resistance range between 1.3134 and 1.3145, ending the week around the latter. […]

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33 A certifiably dovish Bank of Canada rate decision sparked a formidable Canadian Dollar selloff on Wednesday, potentially shifting the longer-term outlook for the Loonie. Consequently, USD/CAD’s recent bounce off support around 1.3050 could mark a local bottom. Now, the pair is fast approaching […]

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting The Canadian dollar wasn’t paid any heed overnight. The rest of the G-10 major currencies didn’t fare much differently due to caution ahead of the U.S. Federal Open Market Committee (FOMC) meeting, and Bank of Canada meeting tomorrow. Nevertheless, a speech by Reserve Bank of […]

Canadian Dollar: USD/CAD (CAD=X) remains range-bound

Canadian Dollar: USD/CAD (CAD=X) remains range-bound

Canadian Dollar: USD/CAD (CAD=X) remains range-bound USD/CAD remains range-bound. In Monday’s North American session, the pair is trading at 1.3059, down 0.04% on the day. There are no Canadian events on the schedule. Technical Analysis 1.3070 is a fluid line. Currently, it is an immediate resistance line. Below, we find support at 1.3040, which has held […]

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby The US Dollar Index (DXY) bounced last week after a tough three weeks. Is it another swing-low as has happened after minor sell-offs during the past few months, or only a small bounce before testing larger support? In the past the […]

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further The US Dollar has had a rough October, with the Dollar Basket (DXY) falling from 99.67 to 97.66 at the time of writing. The persistent bearishness has pressured DXY to test the 200-day moving average around 97.40 and should the basket break beneath support, it could open the […]

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide It has been a disappointing week for Canadian indicators. Retail sales for August were released on Tuesday, and both the headline and core readings showed declines. On Wednesday, Wholesale sales declined by 1.2%, down from a gain of 1.7% in the previous release. Despite the soft numbers, the […]

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control In Monday night’s federal election, Prime Minister Justin Trudeau fought off a stout challenge from Conservative candidate Andrew Scheer to win his second term, with the generally strong Canadian economy playing a heavy role in supporting the incumbent. As we noted in last week’s election preview report, the economy […]

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election The Canadian Dollar may fall ahead of the Canadian federal election. Liberal Party Prime Minister Justin Trudeau is in the fight for his political life as the leader of the Conservative Party Andrew Scheer closely follows the incumbent in the polls. The most likely result […]

Canadian Dollar: USD/CAD (CAD=X) rallied that was primarily attributed to the greenback’s overall weakness

Canadian Dollar: USD/CAD (CAD=X) rallied that was primarily attributed to the greenback’s overall weakness

Canadian Dollar: USD/CAD (CAD=X) rallied that was primarily attributed to the greenback’s overall weakness The Canadian dollar today rallied against the US dollar in a move that was primarily attributed to the greenback’s overall weakness against most of its peers. The USD/CAD currency pair fell to new 6-week lows as the loonie rallied against a […]

Canadian Dollar: USD/CAD (CAD=X) CPI Beats Forecast

Canadian Dollar: USD/CAD (CAD=X) CPI Beats Forecast

Canadian Dollar: USD/CAD (CAD=X) CPI Beats Forecast Canadian CPI moved closer to the Bank of Canada target of 2.0%. On an annualized basis, CPI showed a 1.9% gain, above the forecast of 1.7%. Trimmed CPI, which excludes the most volatile items which are covered in CPI, remained steady at 2.1%, on an annualized basis. Technical Analysis […]

Canadian Dollar: USD/CAD (CAD=X) tipped as a sell at UBS as losses seen into year-end

Canadian Dollar: USD/CAD (CAD=X) tipped as a sell at UBS as losses seen into year-end

Canadian Dollar: USD/CAD (CAD=X) tipped as a sell at UBS as losses seen into year-end The Canadian Dollar held its own in a market that was inhospitable to commodity currencies Tuesday but is likely to beat a lengthy retreat into year-end, according to strategists at UBS, who’ve told clients of the bank that selling the Loonie […]

Canadian Dollar: USD/CAD (CAD=X) likely to stay in a consolidation phase

Canadian Dollar: USD/CAD (CAD=X) likely to stay in a consolidation phase

Canadian Dollar: USD/CAD (CAD=X) likely to stay in a consolidation phase Despite the subdued trading action on Monday amid the Columbus Day holiday in the United States (US) and the Thanksgiving Day holiday in Canada, the USD/CAD pair inched higher on Monday as the sharp drop witnessed in crude oil prices weighed on the commodity-related […]

Canadian Dollar: USD/CAD (CAD=X) attention now shifting to Canadian inflation and US retail sales data

Canadian Dollar: USD/CAD (CAD=X) attention now shifting to Canadian inflation and US retail sales data

Canadian Dollar: USD/CAD (CAD=X) attention now shifting to Canadian inflation and US retail sales data USD/CAD comes into focus following another robust Canada jobs report with attention now shifting to Canadian inflation and US retail sales data on deck next week. Spot USD/CAD prices threaten to continue drop seeing that the currency pair plunged beneath its uptrend […]

Canadian Dollar: USD/CAD (CAD=X) traders are keeping a close watch on U.S./China trade developments

Canadian Dollar: USD/CAD (CAD=X) traders are keeping a close watch on U.S./China trade developments

Canadian Dollar: USD/CAD (CAD=X) traders are keeping a close watch on U.S./China trade developments The Canadian dollar continues to drift within its well-defined USD/CAD trading band of $1.3240-$1.3340. The release of the September 18 U.S. Federal Open Market Committee (FOMC) meeting minutes is unlikely to offer any information or insight that would lead to a […]

Canadian Dollar: USD/CAD (CAD=X) Yawns on Mixed Construction Numbers

Canadian Dollar: USD/CAD (CAD=X) Yawns on Mixed Construction Numbers

Canadian Dollar: USD/CAD (CAD=X) Yawns on Mixed Construction Numbers Canada released mixed construction numbers on Tuesday. Housing starts fell to 221 thousand in September, down from 227 thousand a month earlier. There was more positive news from building permits, which jumped 6.1% in August, crushing the estimate of 2.3%. The Canadian dollar showed little reaction […]

Canadian Dollar: USD/CAD (CAD=X) Rally Stalls at Resistance

Canadian Dollar: USD/CAD (CAD=X) Rally Stalls at Resistance

Canadian Dollar: USD/CAD (CAD=X) Rally Stalls at Resistance Technical Outlook: In my previous Canadian Dollar Price Outlook we highlighted a key near-term resistance zone at 1.3284/88 while noting, “Expect acceleration IF price can break higher here with such a scenario exposing longer-term downtrend resistance near 1.3355.” A topside breach last week saw price register a […]

Canadian Dollar: USD/CAD (CAD=X) focus on weekly close around 1.3355/70

Canadian Dollar: USD/CAD (CAD=X) focus on weekly close around 1.3355/70

Canadian Dollar: USD/CAD (CAD=X) focus on weekly close around 1.3355/70 The Canadian Dollar down more than 0.75% against the US Dollar since the start of the week with USD/CAD testing the upper-bounds of a multi-month range in price heading into major US event risk tomorrow. It’s the moment of truth for Loonie.  In my last Canadian Dollar Weekly Price Outlook we […]

Canadian Dollar: USD/CAD (CAD=X) stuck in a range as technical indicators clash

Canadian Dollar: USD/CAD (CAD=X) stuck in a range as technical indicators clash

Canadian Dollar: USD/CAD (CAD=X) stuck in a range as technical indicators clash USD/CAD price action has been capped by the 200-day moving average for the last month and will need a bullish driver to regain upside momentum. The daily chart shows USD/CAD below all three moving averages, although the 20-day is being threatened, with the recent […]

Canadian Dollar: USD/CAD (CAD=X) supported by oil but is tipped to weaken by year-end

Canadian Dollar: USD/CAD (CAD=X) supported by oil but is tipped to weaken by year-end

Canadian Dollar: USD/CAD (CAD=X) supported by oil but is tipped to weaken by year-end The Canadian Dollar is in the process of coming off the boil, according to analysts at Bank of America Merrill Lynch, who’re sticking by forecasts that the Loonie will weaken against its U.S. and British rivals into year-end. Canada’s Dollar remained the […]

Canadian Dollar: USD/CAD (CAD=X) possibility that today’s U.S. GDP release would shake up the pair

Canadian Dollar: USD/CAD (CAD=X) possibility that today’s U.S. GDP release would shake up the pair

Canadian Dollar: USD/CAD (CAD=X) possibility that today’s U.S. GDP release would shake up the pair With no Canadian releases on the schedule, there was a possibility that today’s U.S. GDP release would shake up the lethargic Canadian currency. However, that did not happen as the third estimate release showed growth of 2.0%, which merely confirmed […]

Canadian Dollar: USD/CAD (CAD=X) ranging just below downtrend resistance– breakout targets well-defined

Canadian Dollar: USD/CAD (CAD=X) ranging just below downtrend resistance– breakout targets well-defined

Canadian Dollar: USD/CAD (CAD=X) ranging just below downtrend resistance– breakout targets well-defined The Canadian Dollar is virtually unchanged against the US Dollar since the start of the week with price carving the weekly opening-range just below downtrend resistance. These are the updated targets and invalidation levels that matter on the USD/CAD charts. Technical Outlook: In my last Canadian Dollar Price Outlook we noted to, “look […]

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

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

Canadian Dollar: USD/CAD (CAD=X) Yawns After Mixed Retail Sales USD/CAD was quiet late last week, and even retail sales failed to wake up the lethargic Canadian currency. Retail sales in July improved to 0.4%, matching the forecast and marking a 4-month high. Core retail sales could not keep up and declined 0.1%, shy of the […]

Canadian Dollar: USD/CAD (CAD=X) Breakout Potential

Canadian Dollar: USD/CAD (CAD=X) Breakout Potential

Canadian Dollar: USD/CAD (CAD=X) Breakout Potential The Canadian Dollar is up down more-than 0.2% against the US Dollar since the start of the week with USD/CAD stretching into near-term resistance post- FOMC yesterday. Despite the recent advance, Loonie remains within the confines of a well-defined range with the broader outlook still tilted to the downside.  In my last Canadian Dollar Price Outlook we noted that USD/CAD was approaching daily […]

Canadian Dollar: USD/CAD (CAD=X) Canadian CPI Slips

Canadian Dollar: USD/CAD (CAD=X) Canadian CPI Slips

Canadian Dollar: USD/CAD (CAD=X) Canadian CPI Slips USD/CAD continues to have a quiet week, as the pair remains rangebound. In Wednesday’s North American session, the pair is trading at 1.3271, up 0.22% on the day. Canadian CPI Slips Canada’s key inflation gauge, CPI, contracted by 0.1% in August. The reading of -0.1% marked a sharp drop […]

Canadian Dollar: USD/CAD (CAD=X) Rallies with Oil Prices

Canadian Dollar: USD/CAD (CAD=X) Rallies with Oil Prices

Canadian Dollar: USD/CAD (CAD=X) Rallies with Oil Prices The Canadian dollar gapped higher in Asia when oil prices surged upwards. West Texas Intermediate jumped to $63.15 U.S./barrel after closing on Friday at $54.83/b after news that drone attacks on Saudi Arabian oil fields knocked over 50% of the Kingdom’s oil production offline. There isn’t any […]

Canadian Dollar: USD/CAD (CAD=X) Locking in Gains

Canadian Dollar: USD/CAD (CAD=X) Locking in Gains

Canadian Dollar: USD/CAD (CAD=X) Locking in Gains The Canadian dollar is consolidating its recent gains. Last week’s robust employment report may have reduced the incentive for the Bank of Canada to trim interest rates at its October meeting which underpinned the currency. Overnight, China announced it was exempting more than a dozen U.S. imports from […]

Canadian Dollar: USD/CAD (CAD=X) dollar is in demand Supported by Oil

Canadian Dollar: USD/CAD (CAD=X) dollar is in demand Supported by Oil

Canadian Dollar: USD/CAD (CAD=X) dollar is in demand Supported by Oil The Canadian dollar is in demand. A steep rally in West Texas Intermediate (WTI) oil prices since the end of August has contributed to the positive bias in the domestic currency. Yesterday, Saudi Arabia’s new oil minister suggested that the Organization of the Petroleum […]

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 […]

Canadian Dollar: USD/CAD (CAD=X) continuing a reversal theme

Canadian Dollar: USD/CAD (CAD=X) continuing a reversal theme

Canadian Dollar: USD/CAD (CAD=X) continuing a reversal theme On the long side of the US Dollar, USD/CAD remains of interest. I had looked at the pair again coming into this week, continuing a reversal theme that I’ve been working with from the week prior. After price action built into a falling wedge with a seeming refusal of sellers to re-test 1.3000, […]

Canadian Dollar: USD/CAD (CAD=X) Risk of a Possible Reversal

Canadian Dollar: USD/CAD (CAD=X) Risk of a Possible Reversal

Canadian Dollar: USD/CAD (CAD=X) Risk of a Possible Reversal Looking at the daily chart, we notice on Friday USDCAD failed to close above the low end of current trading zone 1.3166 – 1.3224. Yesterday, the price repeated its failure to close above the low-end emphasizing buyer’s weakness to keep rallying the price. Hence, another close […]

Canadian Dollar: USD/CAD (CAD=X) forming a rising wedge trading pattern

Canadian Dollar: USD/CAD (CAD=X) forming a rising wedge trading pattern

Canadian Dollar: USD/CAD (CAD=X) forming a rising wedge trading pattern The USD/CAD pair marked the daily opening on Monday near 1.3170 level with a Doji Candlestick formation, generating a trend reversal price action. However, the bears could drag the Loonie pair only up to 1.3158 level. From there, the bulls grabbed the opportunity to uplift the pair, making it […]

Canadian Dollar: USD/CAD (CAD=X) forming a corrective pattern

Canadian Dollar: USD/CAD (CAD=X) forming a corrective pattern

Canadian Dollar: USD/CAD (CAD=X) forming a corrective pattern USD/CAD’s rebound and break of 1.3143 resistance last week suggests short term bottoming at 1.3016. That case after failing to sustain below 1.3052/68 key support zone. Initial bias stays on the upside this week for 55 day EMA (now at 1.3212). Sustained break there would pave the […]

Canadian Dollar: USD/CAD (CAD=X) Extends Bearish Turn

Canadian Dollar: USD/CAD (CAD=X) Extends Bearish Turn

Canadian Dollar: USD/CAD (CAD=X) Extends Bearish Turn The Canadian Dollar has extended its bearish reversal with USDCAD hitting the top of its recent consolidation range. Clean break of 1.3160 leaves room for a test of 1.32. Wider yield spreads between the US and Canada has been among the factors behind the bid in USDCAD with US/CA 10yr […]

Canadian Dollar: USD/CAD (CAD=X) content to hug the sidelines along with most of the G-10 major currencies

Canadian Dollar: USD/CAD (CAD=X) content to hug the sidelines along with most of the G-10 major currencies

Canadian Dollar: USD/CAD (CAD=X) content to hug the sidelines along with most of the G-10 major currencies The Canadian dollar started the week quietly, content to hug the sidelines along with most of the G-10 major currencies.There were plenty of geopolitical worries along with the seemingly never-ending Brexit story and concerns around the upcoming European […]

Canadian Dollar: USD/CAD (CAD=X) strong fundamentals and a central bank likely to keep rates steady

Canadian Dollar: USD/CAD (CAD=X) strong fundamentals and a central bank likely to keep rates steady

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

Canadian Dollar: USD/CAD (CAD=X) corrected lower recently and tested the key 1.3430 support area

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

Canadian Dollar: USD/CAD (CAD=X) Market focus will be on April’s Ivey PMI

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

Canadian Dollar: USD/CAD (CAD=X) remains in dovish mode and policymakers have acknowledged that the economic slowdown was deeper than the bank expected

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

Canadian Dollar: USD/CAD (CAD=X) underpinned by a surge in oil prices

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

Canadian Dollar: USD/CAD (CAD=X) release of housing starts and building permits this week

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

Canadian Dollar: USD/CAD (CAD=X) lack of fundamental triggers to push the pair decisively in any direction

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

Canadian Dollar: USD/CAD (CAD=X) Bank of Canada Governor Poloz Speech

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) Facing Many Hurdles

Canadian Dollar: USD/CAD (CAD=X) Facing Many Hurdles

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

Canadian Dollar: USD/CAD (CAD=X) bias is neutral

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

Canadian Dollar: USD/CAD (CAD=X) slides on dovish BoC

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

Canadian Dollar: USD/CAD (CAD=X) opportunity for an eventual up-move towards reclaiming the 1.3400 round figure mark

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

Canadian Dollar: USD/CAD (CAD=X) continues its upside movement

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

Canadian Dollar: USD/CAD (CAD=X) economic data has been mixed

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

Canadian Dollar: USD/CAD (CAD=X) buyers look to recapture near-term bullish bias

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

Canadian Dollar: USD/CAD (CAD=X) investors wait for cues

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

Canadian Dollar: USD/CAD (CAD=X) look for loonie weakness

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

Canadian Dollar: USD/CAD (CAD=X) grinding higher

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

Canadian Dollar: USD/CAD (CAD=X) Continues Range Bound Action Amid Lack of Macro Data Updates

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

Canadian Dollar: USD/CAD (CAD=X) resurfacing concerns over the slowdown in the global economic growth

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

Canadian Dollar: USD/CAD (CAD=X) may have fallen to the base of the channel

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

Canadian Dollar: USD/CAD (CAD=X) ISM Non-Manufacturing PMI (Jan.) was released earlier and missed projections

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

Canadian Dollar: USD/CAD (CAD=X) Canada to release Manufacturing Sales for November

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

Canadian Dollar: USD/CAD (CAD=X) consolidating after recent rebound

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

Canadian Dollar: USD/CAD (CAD=X) rebound could point to bullish reversal

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

Canadian Dollar: USD/CAD (CAD=X) continues to lose ground

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

Canadian Dollar: USD/CAD (CAD=X) drops into trendline support

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 Outlook

Canadian Dollar: USD/CAD (CAD=X) 2019 Outlook

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

Canadian Dollar: USD/CAD (CAD=X) losing some upside momentum

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

Canadian Dollar: USD/CAD (CAD=X) Cautious Tone in Market Amid Dovish Crude Oil Price

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

Canadian Dollar: USD/CAD (CAD=X) calendar is busy this week

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

Canadian Dollar: USD/CAD (CAD=X) remains of interest for bullish USD strategies

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

Canadian Dollar: USD/CAD (CAD=X) faltering below key resistance

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

Canadian Dollar: USD/CAD (CAD=X) rallies towards previous highs

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 […]