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APAC Currency Corner – It’s a crap shoot

The votes are in and the counting is well and truly under way in the UK’s referendum on EU membership. Early results are reflecting blue-collar (leave) sentiment while white collar voters are due later. Markets are like a coiled spring waiting eagerly for the first sniff of an outcome. The market’s overall lean continues to price […]

USD/CAD Loonie Lower as Oil Falls Ahead of Brexit Vote

The Canadian dollar traded lower on Wednesday as voters in the UK prepared for the UK EU referendum and oil prices dropped after inventories in the U.S. did not fall as much as expected. The CAD had recovered some ground after the tide of Brexit seemed to swing to favour the Remain side and risk […]

Top trade idea for June 17th, 2016 – AUD/CAD

If the Brexit referendum and the chance of extreme volatility it entails is beyond your risk tolerance, here’s a chart that may be of interest. The relationship between the Aussie and Canadian Dollars should be fairly neutral to Brexit. Both are seen as “commodity” currencies. Oil is Canada’s main export while iron ore is Australia’s. […]

Bund Yields See Red

Five things the markets are talking about Investors continued search for safety is lifting the historical go to currency pairs and gold ($1,280) in overnight trading. The JPY (¥105.73) and the CHF ($0.9640) continue to rise strongly as worries about the possibility of a vote to exit the EU in next week’s U.K. referendum, falling […]

USD/CAD Loonie Lower on Signs of Oil Glut

The Canadian dollar was stable ahead of a busy week. Monday proved to the calm before the storm as few economic releases were released and the USD recovered slightly ahead of tomorrow’s U.S. retail sales data. The CAD will have to wait for Wednesday for supporting data with the release of Canadian manufacturing sales. The […]

Canada Adds 14000 New Jobs

The Canadian dollar rose to almost a one-month high after a report showed May employment gains were higher than forecast. The currency erased losses after Canada’s jobless rate fell to the lowest since July last month led by full-time positions. Canadian companies added 13,800 jobs, compared with a forecast for 1,800 jobs, according to the […]

USD/CAD – Loonie Stable on BOC Financial Review and Oil Drop

The Bank of Canada (BoC) has deemed the risks to the Financial system from the Canadian housing sector have been balanced by the improving economy. The rise of house prices in Toronto and Vancouver continue to be a concern as borrowers continue to incur in large debt. Governor Stephen Poloz was optimistic about the economic […]

Top trade idea for June 6th, 2016 – EUR/CAD

Trading opportunities for currency pair: the EUR/CAD has restored to the upper limit of the “1-1” channel. Since the NZD/CAD has broken through the trend line on the daily time-frame and the EUR/CAD and NZD/CAD have a positive correlation, it’s highly likely that it could shoot to 1.5077. The target is by the upper limit […]

USD/CAD Loonie Lower on Thin UK/US Holiday Liquidity

The loonie started the week lower as the Memorial Day holiday will severely limit liquidity. The week promises to be full of trading activity for all major pairs, but for now the is the calm before the storm. The week will feature the European Central Bank (ECB) rate statement and press conference, the Organization of […]

USD/CAD Loonie Higher After Oil Price Hits $50

The Canadian dollar navigated a volatile trading day with little data out to Canada to support the currency. American economic indicators were in line with expectations with core durable good orders grew at 0.4 percent and orders including transportation were 3.4 percent higher, but the core data is more telling as it removes the volatile […]

Fed Rhetoric On Markets Radar

Five things the markets are talking about To the neutral observer, it’s not a surprise to see the mighty dollar encountering some profit taking of its recent gains ahead of Fed chair Yellen’s speech tomorrow. The bulk of this week’s USD rise has come from consistent jawboning from the Fed’s team. Will Yellen be as […]

USD/CAD Loonie Rises as Bank of Canada Holds and Oil Prices Move After US Inventories

The Canadian dollar had an eventful trading session today. The two main factors that would guide the CAD were: the Bank of Canada (BoC) statement at 10:00 am EDT and the release of the U.S. oil inventories at 10:30 am EDT. The BoC as expected did not change its benchmark interest rate from 0.50 percent. […]

Dollar Moves Handcuffed To Fed Talk

Five things the markets are talking about With “hawkish” Fed rhetoric remaining equities biggest hurdle, coupled with ‘little’ new U.S economic data, the end of the North American earnings season, and significant event risk in the coming month has investor sentiment shifting cautiously in favor of “wait and see.” This approach continues to have a […]

USD/CAD Weak Canadian Sales Hurt Loonie

The Canadian dollar continues to depreciate against the U.S. dollar after the U.S. Federal Reserve published the minutes from its April Federal Open Market Committee (FOMC) meeting on Wednesday. The notes were surprisingly hawkish and put the June FOMC back on the table as a possibility of a rate hike. The interest rate divergence that […]

USD/CAD Loonie Struggles Against Rising USD

The Canadian dollar dropped to a one month low as the effects of the hawkish Federal Open Market Committee (FOMC) minutes released on Wednesday. The USD has gained across the board versus majors as the U.S. Federal Reserve changed market expectations with the release of the notes from the April 27 meeting. The April FOMC […]

Top trade idea for May 18th, 2016 – USD/CAD

The US dollar has eased of its best levels after rebounding across the board following the release of some strong US macroeconomic pointers on Tuesday.  Meanwhile, the Canadian dollar has weakened against most major currencies despite the fact crude oil prices have repeatedly hit new 2016 highs this week. Consequently, the USD/CAD pair has been […]

USD/CAD Loonie Mixed Ahead of FOMC

Canadian manufacturing struggles to regain traction after March manufacturing sales fell 0.9 percent. The silver lining was that economists were expecting a worst fall by 1.9 percent but still show a decline in 16 of 21 industries. The better than expected data was offset by a downgrade of last month’s figures who is now a […]

USD/CAD Loonie Rises as Oil Gets End of Glut Call

The Canadian dollar rose against the USD as oil prices surged after several oil disruptions have kept global production lower and Goldman Sachs has now called an end to crude oversupply. The investment bank had previously had a $20 call on oil prices, but now analysts are seeing stockpiles shrink with higher demand and lower […]

Top trade idea for May 13th, 2016 – USD/CAD

Dollar Train Leaving the Station The most crowded trade of 2015 – long USD – has burnt holes in many pockets over the last six months. Although weaker US data helped, the circa 8% fall in the US Dollar index is at least partly attributable to the one-way positioning of the market. However, the USD […]

USD/CAD Loonie Rises After US Oil Inventories Shrinks

The Canadian dollar has reversed some of the week’s earlier losses after the release of the U.S. crude inventories at 10:00 am EDT on Wednesday. The Energy Information Administration (EIA) issued the latest weekly report that showed inventories shrunk by 3.4 million barrels. The forecast called for a 500,000 to 750,000 gain. The shortfall in […]

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