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USD/CAD – Loonie Rises After OPEC Cooperation Comment

The USD/CAD had been caught in a range between 1.3990 and 1.3950 with the loonie fighting to stay below the 1.40 price level. The price of oil suddenly depreciated at 2:30 pm which is when a shocking comment from United Arab Emirates energy minister Suhail bin Mohammed al-Mazrouei said that the Organization of the Petroleum […]

USD/CAD – Loonie Decouples from Oil Price Fall

The loonie was not dragged down by a tumble in oil prices and managed to eke out gains after the Canadian and U.S. bond yield spreads narrowed due to the softness of the big dollar. The USD was being sold off in exchange for investors looking for safety and headed into EUR, CHF and JPY. […]

USD/CAD – Loonie Slightly Lower After Oil Drop

The USD was under pressure at the start of the week, but the CAD was not of the currencies that capitalized on the big dollar’s pain. Commodity prices tumbled and with that any hopes of loonie gains. Safe haven trades such as EUR, JPY and gold advanced against the USD. The CAD got a temporary […]

Canada: Building permits, December 2015

The total value of building permits issued by Canadian municipalities rose 11.3% to $6.9 billion in December, following a 19.9% decline the previous month. Higher construction intentions for multi-family dwellings in Quebec, Ontario, British Columbia and Alberta explained the advance. Construction intentions in the residential sector increased 16.3% to $4.7 billion in December, following a […]

Top trade idea for February 8th, 2016 – GBP/CAD

Trading opportunities for currency pair: the price has broken from the support. We have two pinbars and a double bottom. On Monday it’s better not to make any big deals and keep an eye on the price of oil. If the GBP/CAD doesn’t fall, we could see two price zones as a target: 2.0325 and […]

USD/CAD – Loonie Suffers Employment Setback

After an impressive 22,800 new jobs were added in December the forecast called for a lower number in January, but instead the figure released by Statistics Canada was well below expectations of 5,200 new jobs. Canada lost 5,700 jobs in January. The job losses pushed the unemployment rate to 7.2 percent. The energy sector was […]

Canada’s Labour Force Survey, January 2016

Employment was virtually unchanged in January (-5,700 or 0.0%) and the unemployment rate edged up to 7.2%. In the 12 months to January, employment increased by 0.7% (+126,000). Over the same period, the unemployment rate rose from 6.6% to 7.2%, as the labour force grew at a faster pace than employment. There was little change […]

USD/CAD – Loonie Erases January Losses Ahead of Employment Data

The Canadian dollar rallied versus its American counterpart on Thursday as disappointing data continues to hurt the USD. U.S. unemployment claims recording a rise of 8,000 applications for 285,000 last week when only 2,000 was forecasted. The rise in the number of claims joins both purchasing managers indices (PMI) manufacturing and non-manufacturing, which are leading […]

Great Unwind-‘Long’ Dollar Positions Recalibrate

The mighty dollar has been the darling of the forex market for 18-months now, mostly on rate differentials. But has the Fed got it right? So far this year, and after the first Fed rate hike in nine-years last December, the U.S fixed income market continues to price in a Fed policy error. Dealers see […]

USD/CAD – Loonie Rises as US Data Takes Down USD

Disappointing Data Questions Fed Decision to Hike as USD Tumbles The loonie is rising today thanks in no small part to two factors. The softer ISM Non-manufacturing data has slowed down and missed expectations at 53.5. The price of oil continues to rise as Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC are teasing […]

USD/CAD – Loonie Under Pressure as Oil Tumbles

Mondays CAD decoupling from the price of oil proved to be a mirage. With both West Texas and Brent crude falling by more than 4 percent the Loonie lost ground versus the USD in the Tuesday trading session. The price of oil got a temporary reprieve after rumour circulated (and where fanned by official comments) […]

Oil Proxy CAD Gets A Lift On Russian Comments

Crude market caught short after Russian comments Loonie breaks psychological C$1.40 handle with ease Russian oil minister Novak is crossing on the wires and discussing the proposed OPEC/Non-OPEC meeting. He said Russia is ready to meet in any format. He clarified that the meeting is meant for energy ministers and that no firm agreement have […]

USD/CAD Loonie Stable After Dovish FOMC Statement

The U.S. Federal Reserve release its statement after January’s Federal Open Market Committee (FOMC) meeting in Washington. As the market had anticipated there was no change to the benchmark interest rate which remains at 0.50 percent. Since there was no press conference scheduled at after the release of the statement, the document was going to […]

USD/CAD – Loonie Gets Shot in Arm from Rising Oil Prices

The Canadian dollar recovered from yesterday’s losses as it was boosted by the rising price of crude. The rumours of a possible cooperation between Russia and the OPEC have appreciated the price of oil even as Saudi Arabia will invest heavily in its production for the foreseeable future. With little economic indicators the USD was […]

USD/CAD – Loonie Joined at the Hip to Volatile Oil

The Canadian currency was quick to give back the gains from last week as the price of oil tumbled below $30 during the European session. Comments from the Organization of the Petroleum Exporting Countries (OPEC) seeking to stabilize the energy market alongside Russia were unsuccessful. Russian sources have been quoted as saying that due to […]

USD/CAD Loonie Surges After Oil Recovers on Demand Optimism

Central bank rhetoric and cold weather boosted crude prices benefiting the CAD The loonie will finish the week of January 25 on a strong note versus major pairs. Boosted by the recovery of oil prices and stronger than expected economic indicators the Canadian currency advanced close to 1 percent versus the U.S. dollar.The USD/CAD depreciated […]

Top trade idea for January 22nd, 2016 – USD/CAD

Good central banking, like good comedy, is all about timing. The Bank of Canada’s decision to hold off on a rate cut on Wednesday is looking wiser following the oil market rally on Thursday. Oil price weakness is the major driver of cuts to Canadian growth expectations. Any further gains in the oil price, combined  […]

USD/CAD Loonie Soars as Oil Rebounds

The USD/CAD lost 1.52 percent in the last 24 hours. The recovery of the price of oil boosted the loonie versus the dollar. The move is not considered to be a permanent trend as downside risks remain for both the Canadian currency and crude as oversupply is still a major factor. The European Central Bank […]

USD/CAD Bank of Canada Holds Awaits Fiscal Stimulus

The Bank of Canada (BoC) held the benchmark interest rate at 0.50 percent in the first policy meeting of the year. The market expectations for a rate cut had accelerated given the rapid decline of oil prices and the weakness of global stock markets. The Canadian dollar had followed the price of oil on a […]

Loonie Awaiting Bank of Canada Rate Decision

Plunging Oil Prices and Scarce Details on Fiscal Stimulus Might Force BoC to Cut Interest Rate At the end of 2015 the possibility of a rate cut from the Canadian central bank in January was low with the majority of analysts putting it beyond the first quarter of 2016. The Federal Reserve had just announced […]

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