Today is Tue, July 22, 2014 20:48:41 GMT
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EUR/USD Breakdown, GBP/CAD, USD/CAD Breakouts Eyed this Week

Talking Points: EURUSD below July 2012-July 2013 TL, needs below 1.3475. GBPCAD and USDCAD still both point to breakouts higher. Reminder that July forex seasonals in QE era work against USD. It’s admittedly another quiet start to the trading week, with fewer than ten economic data releases (including central banker speeches) on the calendar for […]

Top Trade Idea For July 21st, 2014 – EUR/CAD

Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]

Week in FX Americas – Inflation Concerns Come to the Fore

US consumer sentiment declines Consumer has a balanced view on inflation Canucks take price rise on stride Despite the geopolitical event risk in play, a couple of North American economic releases on Friday gauged consumer sentiment and inflation concerns. In the U.S, the preliminary University of Michigan Consumer Sentiment Index for July declined to 81.3 […]

Yen May Continue Higher as Geopolitical Jitters Fuel Risk Aversion

Talking Points: Yen May Continue Higher as Geopolitics Drive Risk Aversion Canadian Dollar Advanced Before June CPI Data Overnight See Data Releases on Your Charts with the DailyFX News App The economic calendar is quiet in European hours, with May’s Eurozone Current Account figures the only noteworthy item on the docket. Volatility may be on […]

No Yellin’ – EUR, GBP, JPY Ready to Breakout?

After many months of low forex volatility, one gets the distinct impression that the worst is probably behind us, and that there are a few signs emerging that would suggest that the main forex pairs are on the cusp of a major breakout. Dealers and investors require movement for opportunity and are just itching for […]

EUR Heavy Handed While Loonie Bulls Stand Ready

On day one of her congressional testimony Janet Yellen said very little that was new to the Senate Banking Committee. The Federal Reserve chief cited ongoing slack in the U.S. jobs market as a concern and she put the emphasis back on the data ‘dots’ with one of her comments of +1% rates at the […]

British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify?

Talking Points: Dollar Advances on Yellen Commentary but Checked by Risk Waver British Pound Rallies on Inflation Report, Will Jobs Data Curb or Amplify? Euro Eyes 1.3500 as Equities Slide, Bond Yields Slowly Gain Dollar Advances on Yellen Commentary but Checked by Risk Waver Technically speaking, the US Dollar is in the middle of an […]

Put GBP/CAD on Your Radar as GBP/USD, GBP/CHF See Key Reversals

Talking Points: GBP-crosses bullish both technically and fundamentally post-CPI. Time to put GBPCAD on your radar as USDCAD rallies too. Reminder that July forex seasonals in QE era work against USD. When the Bank of England eliminated the link between the labor market and its interest rate regime in February, it did so under the […]

USDCAD tests new found resistance as we await direction

The USDCAD pair seems to be in a period of indecision today following a strong move to the upside on Friday. The clear resistance found at 1.0749 has at first provided a block to any further upside. However, given the support found last week, the reaction of the pair to this level could be the […]

EUR/USD Pinned as EUR/JPY Pivots from June Swing; USD/CAD Emerges

Talking Points: EURJPY, EURUSD holding ground despite many negative events. GBPCHF remains a buy on dips, USDCAD breakout emerges. Reminder that July forex seasonals in QE era work against USD. If there was ever a week that could transpire a series of events flush in Euro negativity, last week failed to live up to the […]

Dollar Torn Between Revived Volatility and Fading Rate Forecasts

Talking Points: Dollar Torn Between Revived Volatility and Fading Rate Forecasts Euro’s Troubles Build as Sovereign and Financial Stability Concerns Revived British Pound: Hike Hopes Face True Test Next Week on CPI, Jobs Dollar Torn Between Revived Volatility and Fading Rate Forecasts Once again, the Dollar’s two primary fundamental guide-lines were pulling the currency in […]

Dollar Gets Pre Holiday Payrolls Boost and Other Top Forex News.

The dollar ended the shortened trading week in positive territory against most of the major currencies on Thursday, following the release of this mornings upbeat non-farm payrolls report. The U.S. Department of Labor said non-farm payrolls rose by 288,000 last month, way ahead of  expectations for an increase of 212,000. The previous month’s figure was […]

Dollar Boosted By Upbeat Jobs Data and Other Top Forex News.

The dollar was boosted on Wednesday, closing the session in positive territory against a host of other currencies after data showed that the U.S. private sector added more jobs than expected in June. The data from payrolls processor ADP showed that the U.S private sector added 281,000 jobs last month, beating expectations for an increase […]

Weak U.S. Manufacturing Data Hits Dollar and Other Top Forex News.

The dollar fell against the pound and Canadian dollar on Tuesday, after the release of disappointing U.S. manufacturing data put paid to expectations that the Federal Reserve might raise interest rates sooner than expected. This mornings data from the Institute for Supply Management showed that its index of purchasing managers dipped to 55.3 last month […]

Dollar Lower After Data Disappoints and Other Top Forex News.

The dollar fell against most of the major currencies on Monday after the release of somewhat mixed data from the worlds largest economy, cast doubt over the strength of the economic recovery. The dollar was initially boosted following the release of this mornings housing data, which showed that U.S. pending home sales rose to an […]

Dollar Steady As GDP Data Continues to Weigh and Other Top Forex News.

The dollar remained steady against the other major currencies on Friday, despite the release of strong U.S. consumer sentiment data. As Tuesdays disappointing GDP data and softer than expected household consumption data, continue to weigh on the dollar. This mornings data from the University of Michigan showed that its consumer sentiment index rose to 82.5 […]

Dollar Moves Higher As Data Improves and Other Top Forex News.

The dollar recovered most of yesterdays losses in moderate trading on Thursday as economic data turned positive. Brightening the outlook for the U.S. economy. The dollar was boosted after the Labor Department announced that initial U.S. jobless claims dipped by 2,000 people to 312,000 last week, a sign that the recovery in the labor market […]

Dollar Broadly Lower After GDP Data Disappoints and Other Top Forex News.

The dollar fell against most of the major currencies on Wednesday after official data showed that U.S. first quarter growth came in sharply lower and durable goods orders fell unexpectedly last month. The Commerce Department said U.S. gross domestic product contracted at an annual rate of 2.9% in the first three months of the year, […]

Upbeat Data Boosts Dollar and Other Top Forex News.

The dollar moved into positive territory against most of the other major currencies on Tuesday following the release of U.S. consumer confidence and new homes sales data, both of which hit six year highs, bolstering the outlook for the wider recovery. The first of this mornings releases from the Conference Board showed that the consumer […]

USDCAD breaks below major support level

The USDCAD pair has finally broken below the 1.085 level which represents both a key fibonacci retracement and previous support. This break along with the 200 day SMA means that signs are pointing towards a further deterioration in the pair going forward. The daily chart shows that following a strong showing on Friday, the pair […]

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