The Bank of Canada raised the interest rate for a third time in a row to 1%. This partial surprise sends USD/CAD down to another attempt on the support line.
USD/CAD fell from 1.0470 to 1.0415 at the time of writing. The Canadian dollar is now approaching a significant line:
Read the rest of the article USD/CAD Down on Canadian Rate HikeThe meeting minutes from the last meeting of the BoE showed that there’s still one member voting for a rate hike. This helped GBP/USD bounce off the support line, after it got very close to it. Update on the Pound. Andrew Sentance continues to vote for a rate hike. He’s still the only member out
Mervyn King finally changed his tone about inflation, and sent the British Pound above a critical resistance line. Update on the rising sterling
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,
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
There were many doubts about this move. When it did happen, the Australian dollar reacted with a leap. The Aussie is now better positioned towards the next big release this week and could go over the top. Update on this strong currency. After last week’s disappointing Australian figures, there were doubts about this move. It
The Australian dollar dipped on bad fundamentals – something quite uncommon. Does this imply a long term change? An update on the Australian economy as well as AUD/USD technicals. At the beginning of the week, things looked good for the Aussie. Glenn Stevens, the governor of the RBA, said that house prices are too high
After the surprising American GDP, the first week of February is loaded with major events: rate decisions from Britain, Europe and Australia, job figures from Canada, New Zealand and the US – the almighty Non-Farm Payrolls. Here’s an outlook for the major events of the week. I’m trying a new format of the weekly outlook
After getting many blows, the Aussie finds comfort in rising inflation which paves the path for another rate hike. This report saved AUD/USD from losing an important support line. After the bounce, the road is north. Australian quarterly CPI showed a rise of 0.5% in Q4. This exceeded expectations for a 0.4% rise, although being
A busy week is ahead of us: rate decision in the US, Japan and New Zealand and GDP releases from the US, UK and Canada are part of an eventful week. Will we see more dollar strength? Here’s an outlook for the last week of January. Beginning on Wednesday, the World Economic Forum meets in