Quick Look: The Canadian Dollar gains as USD/CAD tests key support at 1.2650. Mixed U.S. data with Personal Income up 0.2%, Spending up 0.8%, and PMI down to 60.7 in September. WTI oil prices are volatile between $74-$76 per barrel, influenced by OPEC+ production speculation. The Canadian Dollar has shown strength on weekends, with USD/CAD …
Canadian Dollar Moves Higher Ahead Of The Weekend Read More »
Quick Look: April’s CPI forecast suggests a 2.7% year-on-year increase, down from March’s 2.9%. Lower CPI might ensure a June rate cut, while higher inflation could delay it to July. The US dollar weakened due to revised Fed outlooks, with less likelihood of rate cuts in 2024. The US dollar opened the week with losses …
Canadian Dollar Eyes Inflation: 2.7% vs. 2.9% YoY Read More »
Quick Look: USD/CAD’s recent drop to 1.3640 was influenced by a weaker US dollar and PPI data exceeding expectations. The Bank of Canada’s aggressive monetary policy includes a potential 100 basis point cut in 2025. Wildfires near Canadian oil sands push WTI crude to $78.30, impacting commodity-linked CAD. The USD/CAD exchange rate has shown fluctuations …
USD/CAD Hits 1.3640 Amid PPI Surge and Rising Oil Prices Read More »
Quick Look: USD/CAD nears key resistance at 1.36840-1.36860; support at 1.36720-1.36750. This week’s key events include US economic reports, Bank of Canada, and Federal Reserve rate decisions. Oil prices affect CAD; treasury yields and buying interest boost USD. The USD/CAD pair has recently undergone noteworthy fluctuations in the dynamic landscape of global currency exchanges. Presently …
Quick Look: USD/CAD declined by 0.1%: Recent market events pushed the pair to the mid-1.3750s after a strong start in April. Diverging monetary policies and economic data from the US and Canada influence the currency dynamics. The pair’s break below the 30-day SMA and RSI below 50 suggest downward momentum. The USD/CAD pair experienced a …
Quick Look Upcoming speeches from FOMC members and the Fed Vice Chair could sway market sentiments. Key economic data releases from the US and Canada, including employment figures and PMI reports, are set to influence the USD/CAD pair. BOC is expected to hold the interest rate steady at 5.0% amidst global economic cues. Technical analysis …
Quick Look USD/CAD trades sideways around 1.3570 amidst mixed economic signals. Key resistance at 1.3608; breakout could target 1.3655 and 1.3700. The market is eyeing upcoming US Core PCE and Canadian GDP data for directional cues. Lower crude oil prices and recent GDP figures influence market sentiment. Technical indicators suggest upward momentum, with the pair …
In the dynamic realm of forex trading, staying informed about economic indicators and central bank decisions is paramount. Recent developments in the United States and Canada provide a rich tapestry of data that traders must decipher to discern potential forex patterns. This article delves into key economic statistics, central bank announcements, and their implications on …
During the latest forex trading day, there have been notable movements in major currency pairs, drawing significant attention to the USD/CAD and AUD/USD. The exchange rates of these pairs have experienced fluctuations influenced by recent economic data and global factors. In this article, we will delve into the most recent developments in the forex market, …
Since October, the USD weakened significantly as the Fed delayed its rate rises. Currently, it intends to cease after the next boost, worth 25 basis points (bps), on Wednesday. The UYSD has been losing ground versus most major currencies. However, it remains positive against the Canadian dollar. The USD/CAD fell during the majority of March, …
The U.S. dollar traded largely unchanged in Europe on early Thursday, stabilizing after Wednesday’s weakness following Fed Chair Jerome Powell’s speech in Congress. Powell insisted that it was too soon to withdraw the Federal Reserve’s monetary support for the economy. At 2 AM ET, the dollar index, which tracks the U.S. currency against a basket …
Dollar Traded Largely Unchanged on Thursday Morning Read More »
The dollar declined in early European trade on Tuesday, continuing its post nonfarm payrolls weakness. Other currencies, Australian and New Zealand dollars, rose amid signs that these economies are recovering strongly. The dollar started to decline on Friday, as the jobs report wasn’t sufficiently strong to push the Federal Reserve into tapering its asset-buying anytime …
Dollar is Unable to Overcome Post Nonfarm Payrolls Weakness Read More »
President Recep Tayyip Erdogan’s renewed calls for lower interest rates has sent Turkey’s lira to new all-time lows. He even spoke to the central bank’s new governor about it. Erdogan reiterated his position that the central bank must lower interest rates. He noted that lower interest would lift the burden on investments. Erdogan’s remarks were …
Lira Fell to Record Lows Following Erdogan’s Comments Read More »
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