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Market Focus on Commodity Currencies

Australian Dollar Rockets Higher  Equity markets have posted further gains over the past 24 hours, spurred on by the rally in oil markets when WTI came within a hair of $ 52.00  per barrel, posting a 15-month high at 51.94 on the back of the massive inventory draw on the DOE data. Commodity currencies, championed […]

Week Ahead ECB and US Inflation to Headline Busy Week

Central banks, Chinese GDP and U.S. inflation expected to impact market The USD advanced against most majors with the Canadian and Australian dollars the outliers as commodity prices continue to rally after the Organization of the Petroleum Exporting Countries (OPEC) production cut deal was announced. Chinese data is once again in the spotlight with the […]

US Data, Fed and Earnings in Focus

Focus will very much be on the US as we see out the end of the week. Recent moves in the pound and oil have overshadowed the US a little bit but today, it should take centre stage once again. The US retail sales number stands out for me as being the key release today. […]

Fed Speeches and Oil Data Eyed, GBP Remains Key

It’s been a relatively slow start to trading on Thursday as investors absorb the FOMC minutes on Wednesday, weigh up the next move in sterling as it trades around its all-time low and look ahead to the EIA crude inventory data. We’ve been through a busy volatile period for the financial markets and while I […]

USDCAD Canadian Dollar Lower Despite OPEC’s Oil Boost

The Canadian dollar depreciated on Tuesday after traders in Canada and the United States came back from holidays. Commodity currencies have been under performers this year as prices remain low. The Organization of the Petroleum Exporting Countries (OPEC) surprised markets with a tentative agreement to cut oil production and to discuss with non-OPEC members in […]

USD/CAD – Loonie Recovers as Canadian Job Numbers Sparkle, US Payrolls Comes Up Short

USD/CAD is showing strong volatility on Friday, as the Canadian dollar posted sharp gains earlier but has retracted in North American trade. Currently, USD/CAD is trading at the 1.32 line. On the release front, the spotlight is on employment numbers on both sides of the border. Canadian employment change posted a huge gain of 67.2 thousand, […]

USD/CAD Canadian Dollar Lower Ahead of US Jobs Report

The Canadian dollar depreciated versus the U.S. dollar ahead of the release of the U.S. non farm payrolls (NFP) report. The USD advanced across the board as the probability of a rate hike in December rose to over 60 percent. The Canadian dollar did not fall further thanks to the advance of the price of […]

Top trade idea for October 05th, 2016 – NZD/CAD

Crude oil’s fundamental outlook continues to improve: as well as the planned OPEC oil output cut, we have seen surprise inventory destocking in the US for five straight weeks now. In addition to the prospects of reduced supply, the outlook for oil demand appears to be healthy too, judging by this week’s key US economic […]

USD/CAD Canadian Dollar Lower on Fed December Rate Hike Comments

The Canadian dollar fell slightly versus the U.S. dollar on Tuesday as the the oil price rally lost momentum and other commodities dropped after hawkish comments from Fed member Jeffery Lacker. The interest rate divergence that has kept the USD bid was boosted by positive economic indicators on Monday and comments from Fed members. The […]

UK Data, Brexit and Deutsche Bank Remain in Focus

European equity markets are expected to open relatively flat following a quiet session in Asia overnight, with investors remaining focused on the European banking woes and Brexit, while the RBAs slightly dovish stance weighed a little on the Australian dollar. I think traders are seeing a number of reasons to be a little cautious this […]

USD/CAD Canadian Dollar Rises as Oil Rallies Higher

The Canadian dollar appreciated on Monday thanks to its high correlation to crude prices. The surprising news out of Algiers last week as the Organization of the Petroleum Exporting Countries (OPEC) announced an oil output cut instead of the expected freeze have boosted crude prices despite the final details still to be finalized. In Canada […]

Oil and Fed’s Fischer in Focus

US futures are pointing to a slightly higher open on Wall Street on Tuesday, with investors slightly buoyed by the outcome of the Presidential debate. The election in November is one of the biggest risk events facing the markets this year and the way markets responded to the first debate makes it clear which outcome […]

USD/CAD Canadian Dollar Lower Ahead of US Presidential Debate

The Canadian dollar is lower on the first day of trading this week even after oil prices jumped close to 4 percent as the Organization of Petroleum Exporting Countries (OPEC) and other major producers started their meeting in Algiers. The USD is weaker against majors with the exception being the CAD. Dismal data on Friday […]

NZD: Kiwi’s Wings Get Clipped

The New Zealand Dollar has had a difficult end to the week. Being heavily sold against most of its major counterparts. However, the longer term charts and underlying macro situation mean the picture is not as clear-cut as it seems. New Zealand has been somewhat of a darling recently. A purring economy, an excellent rugby […]

Top trade idea for September 15th, 2016 – USDCAD

USDCAD preparing the break a bullish triangle as it is looking with interest at the b-d trend line that is rising with each and every candle that passes. The idea of this triangle is that price formed another triangle of a lower degree for the e-wave in magenta and now that that one is completed […]

NZD: The Kiwi gets ready to Fly!

A number of formations on the longer term charts are pointing to a higher NZD as the USD melts away post a very poor ISM last night. For those of you who don’t know, the Kiwi is the national bird of New Zealand. It is a flightless bird, and it is also the nickname for […]

Week Ahead After Strong NFP Dollar Rally to Face Retail Sales Challenge

US jobs gain puts Fed’s September rate hike back on The U.S. added 255,000 jobs in July exceeding expectations after adding a revised 292,000 jobs in June. The May employment figures were also revised upward from a horrendous 11,000 to 24,000. The USD gained across the board as employment continues to be the strongest pillar […]

USD/CAD Canadian Dollar Higher Ahead of US Jobs Report

The Canadian dollar appreciated on Thursday after the price of oil gained 1.7 percent after a higher than expected drawdown from gasoline inventories in the U.S. yesterday. The correlation between energy prices took the loonie to trade at 1.3025 ahead of the Canadian and American employment reports due tomorrow morning. The Bank of England (BoE) […]

CANADA: Gross domestic product by industry, May 2016

Real gross domestic product (GDP) fell 0.6% in May, the largest monthly decline since March 2009. The decrease in May was primarily due to lower non-conventional oil extraction, a consequence of the Fort McMurray wildfire and evacuation. The Fort McMurray wildfire was the main cause behind a 2.8% decline in the output of goods-producing industries. […]

Yen Rise Supported By Guesstimates

Five things the markets are talking about. Market volatility is picking up ahead of the Federal Open Market Committee (FOMC) and Bank of Japan (BoJ) decisions later this week. In overnight trading, Australasia markets were especially unsettled with more headlines pertaining to the fiscal/monetary stimulus mix from the BoJ. In Europe, that apprehension is not […]

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