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Top trade idea for November 24th, 2015 – USD/CAD

Trading opportunities for currency pair: the USD/CAD rate has returned to the 1.3370 resistance. A strengthening of the rate to 1.3456 is expected before the FOMC convenes with the rate carrying on afterwards to 1.3577. Any growth will cease after a break in the trend line from the 1.2831 minimum. Background The last idea I […]

USD/CAD Loonie Lower After Volatile Oil Prices

CAD Lower But Bounces Slightly After Oil Surge The Canadian dollar continued to fall versus the U.S. dollar on Monday. The USD was off to a roaring start to the trading day as the USD/CAD broke through the 1.34 price level and climbed as high as 1.3436 before the CAD got support from rising oil […]

Canadian Dollar Lower After Weak Sales and Government Growth Downgrade

The USD/CAD is trading at 1.3330 after the release of the Canadian retail sales and inflation data. The consumer price index (CPI) was in line with expectations and the less volatile core CPI that excludes auto and energy was higher than expected at 0.3 percent. The retail sales report disappointed by missing the forecast with […]

Canada: Consumer Price Index, October 2015

The Consumer Price Index (CPI) rose 1.0% in the 12 months to October, matching the increase in September. Lower energy prices continued to moderate the year-over-year rise in the CPI, led by the gasoline index, which was down 17.1% in the 12 months to October. 12-month change in the major components Prices were up in […]

USD/CAD Canadian Dollar Higher After Less Hawkish FOMC Minutes

The Canadian dollar appreciated versus its U.S. counterpart after yesterday’s release of the minutes from the October Federal Open Market Committee (FOMC). The notes showed that there is still internal division on when to proceed with the first U.S. interest rate hike in a decade. The forecasts still call for a sooner rather than later […]

USD/CAD Loonie Higher As US Inflation Fail to Spur USD Gains

USD/CAD Loonie Higher As US Inflation Fail to Spur USD Gains Canadian Currency Losing Oil Support Ahead of Fed Minutes The CAD recovered after yesterday losses after lower than expected Canadian manufacturing sales were published. After the drop in the price of oil the Canadian economy is looking for other sectors to kickstart growth. The […]

USD/CAD Loonie Flat After Volatile Oil Price and Soft Manufacturing

Oil Headed to $40 Before Recovering to $42 Lifting USD/CAD The Canadian dollar had a rough start to week with the release of the Canadian manufacturing sales report coming in below expectations. Forecasts called for a 0.3 percent growth given the weak currency, but sales of manufactured goods fell by -1.5 percent in September. Last […]

Canada: Monthly Survey of Manufacturing, September 2015

Manufacturing sales declined 1.5% to $51.1 billion in September, following a 0.6% decrease in August. Lower sales in the motor vehicle assembly and the petroleum and coal product industries were responsible for the decline. Sales were down in 13 of 21 industries, representing 78.6% of Canadian manufacturing. Constant dollar manufacturing sales were down 1.6%, indicating […]

Canada’s International Transactions In Securities, September 2015

Canadian investors reduced their holdings of foreign securities by $6.2 billion in September, all non-US foreign instruments. At the same time, foreign investors purchased $3.3 billion of Canadian securities, largely equities. As a result, Canada’s international transactions in securities posted a net inflow of funds into the economy of $9.5 billion in September. However, for […]

Top trade idea for November 16th, 2015 – EUR/JPY

Trading opportunities for currency pair: after a gap in the morning, a pinbar formed at 131.30. As part of a correction, a growth to 133.21 can be expected. This idea’s lifetime is just one short week and will become invalid if we see a closing of above 130.64. What’s of interest at the moment? At […]

Election Workers Support Canada’s Job Gains

Canadian employment rose more than economists forecast in October with most of the increase coming from temporary workers hired to prepare for a federal election. The job rolls grew by 44,400 with the fourth straight advance lowering the unemployment rate to 7 percent from 7.1 percent, Statistics Canada said Friday in Ottawa. The public administration […]

Canada GDP August 2015

Real gross domestic product edged up 0.1% in August, following increases of 0.4% in June and 0.3% in July. The growth in August was mainly a result of gains in manufacturing, mining, quarrying, and oil and gas extraction and retail trade. The output of goods-producing industries grew 0.3% in August, after rising 0.8% in June […]

Top trade idea for October 29th, 2015 – USDCAD

Complex correction for the fourth wave green in an impulsive move of a bigger degree is pointing towards lower levels as this X wave is one of a large construction. That being said, it is difficult to have a stop loss or invalidation area while it is mandatory to have a move below 1.28 before […]

ECB To Take The Wait And See Approach

Finally the week’s main event, the ECB monetary policy meeting will dominate today’s proceedings. For most of this week, the EUR (€1.1312) has been contained to a narrow trading range (€1.1300-1.14), perforated by very little, but that could change one way or another this morning, obviously hinging on what Draghi has to say. The ECB […]

BoC Downgrades Growth Outlook, Loonie Stumbles

The Bank of Canada is downgrading its economic outlook again as the country continues to grapple with the “complex” aftershocks of lower prices for oil and other commodities. As expected, the central bank kept its key overnight lending rate unchanged at 0.5 per cent Wednesday, following two surprise rate cuts earlier this year. After flirting […]

Canadian Dollar Falls as Liberals Unseat PM Harper to Win Election

Talking Points: Canadian Dollar Falls as Liberals Unseat PM Harper to Score Election Win British Pound Looks to BOE Commentary for Rate Policy, Brexit Impact Clues See Economic Releases Directly on Your Charts with the DailyFX News App The Canadian Dollar faced selling pressure as early results showed Justin Trudeau and the Liberal Party emerging […]

Chinese Data Fails To Inspire Volatility

Mixed Chinese data has failed to inspire volatility in the overnight session. Instead, North America equity markets are set to open this week with the VIX index, a proxy for market nervousness, falling to its lowest close since August 18 on Friday, as expectations of “low rates for longer” continues to support equities. In FX, […]

USDOLLAR Index Stalls, EUR/USD Falls as Traders Await ECB

Talking Points: EUR/USD continues slip from end of last week. AUD/USD remains coiled in symmetrical triangle. See the October forex seasonality report that favors US Dollar weakness. Traders may find that the next few days for EUR/USD (and the Euro more broadly) may be more frustrating that what’s transpired the past month. Since the September […]

US Dollar Looks to CPI Data for a Lifeline as Fed Rate Hike Bets Fade

Talking Points: US Dollar Looking to CPI Data for a Lifeline as Fed Rate Hike Bets Fizzle Commodity Dollars Drop, Yen Gains as Risk Appetite Firms in Asian Trade See Economic Releases Directly on Your Charts with the DailyFX News App A quiet economic calendar in Europe is likely to keep speculation about the trajectory […]

UK Inflation, BOE Testimony Key for Pound and Risk Appetite Alike

Talking Points: Commodity Dollars Drop, Yen Gains as Risk Aversion Breaks Out Overnight UK CPI Data, BOE Testimony Key for British Pound and Risk Appetite Alike See Economic Releases Directly on Your Charts with the DailyFX News App The Australian, Canadian and New Zealand Dollars underperformed in overnight trade as risk aversion struck Asian bourses, […]

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