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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 […]

USD/CAD Canadian Dollar Lower as Oil Tumbles

The Canadian dollar started the trading week on the wrong foot after oil futures dropped with the prospect of further drilling in the U.S. to add to the already oversupplied market. With little economic releases this week on the Canada front at the beginning of the week the CAD was exposed to a swing in […]

CANADA: Consumer Price Index, June 2016

The Consumer Price Index (CPI) rose 1.5% in the 12 months to June, matching the gain in May. Excluding gasoline, the CPI was up 1.9% year over year in June, equal to the increase in May. 12-month change in major components Prices rose in all major components in the 12 months to June, with the […]

USD/CAD Canadian Dollar Lower After Oil Glut Keep Prices Down

The Canadian dollar started the week trading lower against its American counterpart. The failed Coup in Turkey built energy price anxiety that dissipated as the country did not suffer more than a short term shock as the political institutions regained power. The drop in oil prices as the potential disruption of Turkish ports never materialized […]

USD/CAD Canadian Dollar Higher After BOC Holds Rates

The Bank of Canada (BoC) held rates unchanged at 0.50 percent on Wednesday. The central bank did downgrade its growth expectations for the Canadian economy in 2016 down to 1.3 percent from a previous 1.7 percent. The BoC was less dovish than expected and while it was acknowledged that the drop in commodities prices and […]

Pound Jumps On May

Risk on sentiment continues to thrive across the various asset classes. For a second consecutive session, political clarity and stronger fundamentals are temporarily providing the market with support. There has been no letup from the euphoria of a very strong June non-farm payroll print from last week, while political risks in the U.K, Japan, and […]

USD/CAD Canadian Dollar Lower as British Political Stability Returns

The Canadian dollar started the week depreciating against the United States dollar. The greenback advanced 0.541 percent in the last 24 hours. The loonie is getting limited support from the price of energy that although gaining almost 0.90 percent is still trading near $45 as ample supply is driving crude downwards. Canadian Housing starts beat […]

Top trade idea for July 11th, 2016 – NZD/CAD

Trading opportunities for currency pair: the NZD/CAD is at the upper limit of the upward trend channel. It’s worth buying from the trend line with 0.9585-0.9663 targets. Example purchase level – 0.9345 (23.6% from 0.8693 to 0.9548). Growth to cancel with a break of the trend line (daily candle closes below this line. On Thursday […]

USD/CAD – Canadian Dollar Unchanged in Light Holiday Trading

The Canadian dollar is showing little movement in the Friday session, continuing the trend seen on Thursday. USD/CAD is trading slightly above the 1.29 line. On Thursday, Canadian GDP posted a small gain of 0.1%, matching the forecast. Canadian markets are closed for Canada Day, so there are no Canadian releases. In the US, today’s highlight […]

USD/CAD Loonie Extends Losses as Brexit and Lower Oil Prices Put Downward Pressure

The Canadian dollar is trading lower versus the USD on the first trading session of the week. The volatility felt in the markets since the exit polls started pointing to a Leave win on the EU UK referendum continues as three out of the three main attractions to the European Central Bank (ECB) Forum in […]

Top trade idea for June 27th, 2016 – USD/CAD

Trading opportunities for currency pair: After the UK referendum, the USDCAD tested the solidity of the trend line. The target zone is 1.3288 – 1.3397. The upper line of channel one passes through it. We just need to wait for the price to strengthen above channel 2 and the trend line. Growth to cancel with […]

USD/CAD Loonie Stable After Brexit Shock as Oil Retreats

The Canadian dollar plunged after the Brexit news hit the markets. Risk aversion triggered a demand for safe haven assets like the USD, JPY, CHF and Gold. The CAD was under pressure as oil depreciated and the USD rose as the full economic impact of the British vote is still uncertain. Canadian Prime Minister Justin […]

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 […]

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