USDCAD Breaking Lower Aaead Of BOC
North Korea tensions have again dominated the agenda at the start of this week and will continue to remain a major obstacle facing risk-sensitive assets in the near-term.
Canada
Dollar Downbeat Ahead Of A Busy Week For FX Markets
Gold has been undermined by rising government bond yields owing to major central banks generally turning more hawkish while the still-buoyant equity markets means there has been reduced demand for the perceived safe haven asset.
Gold Stuck Between A Rock And A Hard Place Ahead Of US CPI
Gold has been undermined by rising government bond yields owing to major central banks generally turning more hawkish while the still-buoyant equity markets means there has been reduced demand for the perceived safe haven asset.
USDCAD Forecast May 12, 2017, Technical Analysis
The USDCAD pair had a very rough session on Thursday, initially surging much higher, then pulling back drastically, only to bounce again to the highs, and then pulling back to show weakness yet again.
EUR Firms As Traders Eye Tighter ECB Policy
The euro finds itself higher across the board. The EUR/USD has risen above the 1.0800 handle again, the EUR/GBP to 0.8650 and the EUR/JPY was back at 120.00 at the time of writing.
China’s financial market opens wider for foreign investment
China’s foreign exchange regulator has approved a bigger amount of foreign investment in the country’s onshore financial market, official data showed on Monday.
USDCAD Defends 1.34 As Oil Falls, Canadian Data Disappoints
It has been a relatively quiet day in the markets due in part to the lack of any major economic news. The US economic calendar in particular will be rather light this week due to Thanksgiving on Thursday.
BOC Rate Decision Preview
Apart from Apple’s expected launch of the new iPhone, today’s other big event is the Bank of Canada’s rate decision, due at 15:00 BST (10:00 ET). Along with the consensus forecasts, we do not expect the BOC to make any changes to its policy.
USDCAD Breakdown Retracement Aug 23, 2016
USDCAD was previously trading inside an ascending channel pattern before breaking lower to signal a reversal. Price hit a low of 1.2762 before pulling up and indicating that a retracement to the broken support area could be in order.
USDCAD Descending Triangle Feb 22, 2016
USDCAD has formed lower highs on its 1-hour chart and has been finding support at the 1.3650-1.3700 area, creating a descending triangle chart pattern. Price appears to have found resistance at the top of the formation once more and might be due for another test of support.