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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 […]

USD/CAD Loonie Flat Awaiting Canadian and U.S. Jobs Data

The wildfire in Fort McMurray, Alberta continues to rage on. Losses from the ongoing disaster are calculated at $1 billion. The price of oil rose as it is estimated 500,000 barrels are offline as the fire hit the crude producing province. The price of crude has kept the CAD in current levels as the USD […]

USD/CAD Loonie Falls as Oil Plummets and USD Rebounds

The USD recovered after touching multi-month lows versus majors and investors started taking profits from the oversold dollar position. The Canadian dollar was pushed lower as oil prices tanked with the resurgence of the greenback and more evidence of a split within the Organization of the Petroleum Exporting Countries (OPEC) as Saudi Arabia and Iran […]

Top Trade Idea for May 3rd, 2016 – USD/CAD

USDCAD has been trading quite aggressively lower for the last couple of weeks after a decisive break out of an upward channel connected from May of 2015 lows, which is an important evidence for a change in trend. That said, price of USDCAD is likely going even lower as we assume that this is now […]

It’s Oil That’s Driving This Loonie Rally

It’s giddy times in Canada, with newly installed Prime Minister Justin Trudeau winning rave reviews at home and abroad, the nation’s economy generating some of the best positive surprises in the world and the domestic stock market soaring again. And yet all foreign-exchange traders seem to want to know is what’s the latest price for […]

Pound Squeeze Continues

Five things the markets are talking about. It tough to get excited about these markets ahead of the FOMC (Wednesday) and BoJ rate (Thursday) announcements this week. Investors prefer to remain non-committed ahead of the meetings, choosing instead to wade to the sidelines and wait for a stronger market signal. The Federal Open Market Committee […]

USD/CAD Loonie Lower Awaiting FOMC and Canadian GDP

The Canadian dollar retreated at the start of the week as it gave up the gains from Friday’s strong inflation and retail sales data. The loonie had a horrible start to 2016 after the price of oil tumbled taking along the currency. The actions from Organization of the Petroleum Exporting Countries (OPEC) members and Russia […]

Top trade idea for April 21st, 2016 – GBPCAD

The GBPCAD chart above is actually coming from the weekly time frame but I zoomed out on the daily to see the details much better. We have an impulsive move to the upside, or a five wave structure that seems to be ended with a failure. In reality, it is not possible to be a […]

BoC Poloz: Opening Remarks To House of Commons

Good morning, Mr. Chairman and committee members. Senior Deputy Governor Wilkins and I are happy to be back to discuss the Bank’s Monetary Policy Report (MPR), which we published last week. I extend particular greetings to the new members of this committee, and look forward to being with you twice a year to talk about […]

Top trade idea for April 18th, 2016 – NZD/CAD

Trading opportunities for currency pair: negotiations in Doha have collapsed. From trade opening on Monday, oil has fallen to $41 per barrel, the NZD is up to 0.8945 against its Canadian counterpart. A double bottom and bull divergence has formed on the daily graph, as has happened on 23rd March earlier this year. Based on […]

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