Post Tagged with: "loonie"
Forex Daily Outlook – June 11th 2009
American Retail Sales are the highlight of today, after yesterday’s packed day. And there’s lots more. Let’s see what’s on the menu today. Australian Unemployment Change fell by only 1.7K, much better than early expectations. Unemployment Rate was inline with expectations, at 5.7%. In Europe, the ECB Monthly Bulletin will draw attention, and will give
Canadian Dollar – Took a Break or Changed Direction?
After a very volatile week where the USD/CAD bounced off a strong resistance line, the loonie is now tested: Was it just a normal retracement? Or did the trend reverse? 4 major indicators await the Canadian dollar: Housing Starts, Trade Balance, NHPI and a press conference by Mark Carney. Here’s an outlook for this week
Dollar Wins Volatile Week – Risk Factor Fades Out
The US dollar makes big gains against other currencies, in the wake of the Non-Farm Payrolls figures. The big surprise in NFP shut off the risk factor, and sent the dollar rallying across the board. Yes, even against the Yen! Non-Farm Payrolls were far better than expected, showing a loss of only 345K jobs instead
Risk Aversion Turns the Market Over
After the dollar retreated on all fronts, it made a huge comeback in the last 24 hours on fears that the recovery is not near at all. Review of the turnaround and a look towards the final battle. Ben Bernanke went to testify in Washington. Despite very careful wording, he expressed pessimism. Recovery isn’t as
Loonie Stays Behind – Mid Week Overview
The US dollar is suffering from losses across the board. Out of the three currencies that I’ve covered, only the Canadian dollar stayed behind. The Pound and the Aussie continued enjoyed the dollar’s fall. Here’s an overview of the week so far, and an outlook towards the data-rich Thursday and Friday. British Pound Original coverage:
Loonie At Parity? Canadian Dollar Outlook
Here is the most recent USD/CAD Canadian Dollar Outlook. USD/CAD has fallen deeply in the past two weeks. This trend continued this week despite ongoing recession. Apart from GDP, there are 4 more crucial events any loonie trade should carefully look out for this week: Building Permits, Interest Rate decision, Ivey PMI and the Unemployment Rate.