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USD/CAD Loonie Flat Despite Strong US Economic Data

The USD/CAD was mostly flat as the strong U.S. economic data was cancelled by the surge in oil prices. The pair is trading at 1.3304 and is trading in a tight range ahead of the Thanksgiving holiday in the States. The U.S. jobless claims posted today instead of Thursday to account for the holiday came […]

USD/CAD Loonie Flies Higher After Oil and Gold Rally

Turmoil in the Middle East as Turkey Downs Russian Aircraft Geopolitical tension triggered a surge in crude prices after Turkey confirmed it had shot down a Russian warplane that it alleged was entering Turkish airspace and refused to communicate. The USD/CAD depreciated as the Loonie was supported by the higher price of crude. The USD […]

AUDUSD – Bullish Breakout Unconvincing

The Australian dollar has traded within a descending channel against the greenback for more than a year now but in the last couple of days it appears to have finally broken above it, which could be a very bullish signal. The pair broke above the channel on Friday and despite seeing immediate downside pressure on […]

Top trade idea for November 24th, 2015 – USD/CAD

Trading opportunities for currency pair: the USD/CAD rate has returned to the 1.3370 resistance. A strengthening of the rate to 1.3456 is expected before the FOMC convenes with the rate carrying on afterwards to 1.3577. Any growth will cease after a break in the trend line from the 1.2831 minimum. Background The last idea I […]

USD/CAD Loonie Lower After Volatile Oil Prices

CAD Lower But Bounces Slightly After Oil Surge The Canadian dollar continued to fall versus the U.S. dollar on Monday. The USD was off to a roaring start to the trading day as the USD/CAD broke through the 1.34 price level and climbed as high as 1.3436 before the CAD got support from rising oil […]

USD at 7-month high against EUR

Despite the holiday shortened trading week, dealers and investors continue to prep for next months two-day FOMC meeting. Divergence in monetary policy remains the theme in FX ahead of several December important central bank meetings. Not surprisingly, the dollar remains on the offensive across the major pairs as short-term U.S rates continue back up in […]

Canadian Dollar Lower After Weak Sales and Government Growth Downgrade

The USD/CAD is trading at 1.3330 after the release of the Canadian retail sales and inflation data. The consumer price index (CPI) was in line with expectations and the less volatile core CPI that excludes auto and energy was higher than expected at 0.3 percent. The retail sales report disappointed by missing the forecast with […]

Euro Drops as Draghi Reaffirms Dovish Stance

Draghi vows to “do what we must” ECB President Mario Draghi once again delivered a very dovish message during his speech at Euro Finance Week this morning. His “we will do what we must” comment was almost reminiscent of his “whatever it takes” pledge back in 2012, although of course the latter was far more […]

Canada: Consumer Price Index, October 2015

The Consumer Price Index (CPI) rose 1.0% in the 12 months to October, matching the increase in September. Lower energy prices continued to moderate the year-over-year rise in the CPI, led by the gasoline index, which was down 17.1% in the 12 months to October. 12-month change in the major components Prices were up in […]

Top trade idea for November 20th, 2015 – AUD/USD

The Aussie Dollar made a strong break above trend line resistance yesterday. In doing so it completed a bullish head and shoulder pattern. This was mainly about $US weakness following a strong run. However, the Aussie and Kiwi Dollars were amongst the best performers against $USin this correction This slow stochastic indicator in the box […]

USD/CAD Canadian Dollar Higher After Less Hawkish FOMC Minutes

The Canadian dollar appreciated versus its U.S. counterpart after yesterday’s release of the minutes from the October Federal Open Market Committee (FOMC). The notes showed that there is still internal division on when to proceed with the first U.S. interest rate hike in a decade. The forecasts still call for a sooner rather than later […]

Slow Lift Off Hurts Dollar

FOMC Minutes: “Most participants anticipated that, based on their assessment of the current economic situation and their outlook for economic activity, the labor market, and inflation, these conditions could well be met by the time of the next meeting” (December 15-16). Minutes gave investors little incentive to add to their long dollar positions: The USD […]

Top trade idea for November 18th, 2015 – Dollar Index

After Monday’s big dollar-bullish move, the foreign exchange market has been relatively mixed over the last 48 hours, not coincidentally mirroring the uncertainty traders are feeling toward future Federal Reserve policy. The widely-watched EUR/USD pairing fell to a fresh 7-month low in the mid-1.0600s before bouncing modestly today, while other European currencies, as well as […]

USD/CAD Loonie Higher As US Inflation Fail to Spur USD Gains

USD/CAD Loonie Higher As US Inflation Fail to Spur USD Gains Canadian Currency Losing Oil Support Ahead of Fed Minutes The CAD recovered after yesterday losses after lower than expected Canadian manufacturing sales were published. After the drop in the price of oil the Canadian economy is looking for other sectors to kickstart growth. The […]

FX: Fears Subside, Rate Divergence Dominate

Central Banks monetary policy divergence continues to be the catalyst in the FX market. Similar to other recent terror attacks, capital markets response to the weekend events in Paris have been short lived. The brief risk-off trading has finished as investors continue to covet the dollar in anticipation for the first Fed hike in nearly […]

Top trade idea for November 17th , 2015 – USD

USD is again getting stronger against the EUR and JPY as stocks turn sharply up in the last 24 hours. We see room for more gains on S&P500 and DAX which means that US currency can stay in uptrend. German DAX keeps trading higher with sharp price move with an impulsive personality. We see index […]

USD/CAD Loonie Flat After Volatile Oil Price and Soft Manufacturing

Oil Headed to $40 Before Recovering to $42 Lifting USD/CAD The Canadian dollar had a rough start to week with the release of the Canadian manufacturing sales report coming in below expectations. Forecasts called for a 0.3 percent growth given the weak currency, but sales of manufactured goods fell by -1.5 percent in September. Last […]

Canada: Monthly Survey of Manufacturing, September 2015

Manufacturing sales declined 1.5% to $51.1 billion in September, following a 0.6% decrease in August. Lower sales in the motor vehicle assembly and the petroleum and coal product industries were responsible for the decline. Sales were down in 13 of 21 industries, representing 78.6% of Canadian manufacturing. Constant dollar manufacturing sales were down 1.6%, indicating […]

Canada’s International Transactions In Securities, September 2015

Canadian investors reduced their holdings of foreign securities by $6.2 billion in September, all non-US foreign instruments. At the same time, foreign investors purchased $3.3 billion of Canadian securities, largely equities. As a result, Canada’s international transactions in securities posted a net inflow of funds into the economy of $9.5 billion in September. However, for […]

BoE Chief Stresses Downside Inflation Risk

An uncertain U.K. outlook and the prospect of weaker-than-forecast inflation justify maintaining emergency policy settings, the Bank of England’s chief economist said on Thursday. “The case for raising interest rates is still some way from being made,” Andy Haldane told the Trade Union Congress in London. “A rate rise would increase unnecessarily the chances of […]

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