Strong Canadian Job Growth Leaves Loonie Unexcited

Canadian job figures surprised once again – 24,700 jobs were gained, 50% more than expected. The unemployment rate remained unchanged at 8.1%. No surprise here, but this is still great. The Canadian dollar wasn’t excited.
The Canadian Department of Labour Force Survey showed that gains were mostly seen in the services industries, and included gains [...]

USD/CAD Outlook – May 31 – June 4

A combination of GDP, a rate decision and employment figures promise an exciting week for the Canadian dollar. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
USD/CAD graph with support and resistance lines marked. Click to enlarge:

An improvement in the current account and the temporary relief that the markets felt [...]

USD/CAD Outlook – May 24-28

The Canadian dollar managed to correct some of its losses on positive data on Friday, but is already far from parity. Here’s an outlook for Canadian events and an updated technical analysis for USD/CAD. The focus is on the technicals this week.
USD/CAD chart with support and resistance lines marked. Click to enlarge:

The higher-than-expected rise in [...]

USD/CAD Outlook – May 10-14

Various economic events will impact the Canadian dollar in the upcoming week, after the strong rise that was seen in Canadian employment. Here’s an outlook for these events and an updated technical analysis for USD/CAD, now far from parity.
USD/CAD chart with support and resistance lines marked. Click to enlarge:

The Canadian dollar didn’t escape the troubles [...]

USD/CAD Outlook – May 3-7

After a bad week, the Canadian now dollar expects the important employment figures among other indicators. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
USD/CAD graph with support and resistance lines marked. Click to enlarge:

Canada mostly suffered from risk aversive trading due to the expanding Greek crisis. But on Friday, [...]

USD/CAD Parity Battle Continues on Slower Canadian Growth

Canadian monthly GDP rose by 0.3% in February, slower than expected. This sets the stage for a close above parity this week. Will the rate decision wait?
The rise of 0.3% missed early expectations that saw a 0.5% growth rate in February, although some economists saw this smaller growth rate. This was half of January’s growth [...]

USD/CAD Outlook – April 26-30

The battle for parity will continue in the upcoming week, as Canadian GDP will be published together with the same American figure. Here’s an outlook for the Canadian events and an updated technical analysis for USD/CAD.
USD/CAD chart with support and resistance lines marked. Click to enlarge:

The Canadian dollar had an exciting week. The BOC made [...]

Canadian Dollar Jumps – Road to Rate Hike Open

The Bank of Canada didn’t move the rates, but removed the comment regarding no rate hike till the end of Q2. A rate hike in the next meeting looks very probable. USD/CAD is below parity once again. Update on this strong currency.
While Mark Carney’s BOC left the main interest rate, the Overnight Rate, unchanged, it [...]

USD/CAD Outlook – April 19-23

A busy week awaits the Canadian dollar with the rate decision being the highlight. Here’s an outlook for the 7 Canadian events and an updated technical analysis for USD/CAD.
USD/CAD graph with support and resistance lines on it. Click to enlarge:

The Canadian dollar continued to struggle with parity, and seemed to improve its positions in the [...]

USD/CAD Feeling More Comfortable with Parity

After USD/CAD reached parity last week, it made a retreat and closed the week higher. This time, the pair went lower, and refuses to run away from parity. If USD/CAD closes the week under 1.0000, it will be set for more losses towards the Canadian rate decision.
USD/CAD is now trading around 1, after another round [...]

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