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 [...]

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 [...]

Loonie Retreats from Parity on Jobs

Canadian jobs didn’t were slightly disappointing, with a smaller than expected gain in jobs. This sent USD/CAD above parity. The battle around parity isn’t over. Canadian Employment Change showed a gain of 17,900 jobs, worse than last month’s 20,900 gain and the early expectations that stood on 25,900. The unemployment rate remained unchanged at 8.2%. [...]

Forex Daily Outlook – April 9th 2010

The volatile week ends with important speeches and the Canadian employment figures among other events. Let’s see what’s awaiting us today: Federal Reserve Chairman Ben Bernanke will speak in Washington about the economic policy and can move the dollar during the Asian session.

Parity Party for the Loonie

USD/CAD made it to parity. Riding on the dollar’s weakness and rising oil prices, the Canadian dollar matches the US dollar for the first time in 20 months. Where will it go next? The Canadian dollar equals one American one, and even more. USD/CAD dropped under 1.00 for the first time since July 2008 – [...]

Dollar Rallies on Job Gains

It finally happened – the American job market gained 162,000 jobs in March. The highest gain in 3 years sends the dollar higher across the board. Not all currencies affected equally. NFP Analysis. Non-Farm Payrolls rose by 162K. This is the first time that the Department of Labor reports a rise in jobs in the [...]

Euro Breakdown, Healthcare Reform and USD/CAD parity – Video Weekly Outlook

On the weekly video outlook on Forex TV, I spoke with Julie Sinha about a possible breakdown of EUR/USD, the short term effect of the healthcare reform, the struggle the USD/CAD has towards parity and more. Enjoy: Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.

USD/CAD Breaks Support Line on Jobs – Road to Parity Open

Canadian employment data was slightly better than expected. This was the hay that broke the camel’s back – after a week of struggle, USD/CAD finally broke 1.02 and heads down to parity. Canada’s employment figures surprised analysts for a second month in a row. Contrary to last month’s huge surprise, the numbers were only slightly [...]

CAD Overcomes Dollar Storm On Strong Economy

USD/CAD is now falling and approaching an important resistance line. This happens as the US dollar is strong, with traders focusing on the collapse of the Pound. The loonie has reasons to rise – a strong economy that is accelerating. The pair is now facing a test: The dollar is storming through the markets. This [...]

USD/CAD Outlook – March 1-5 2010

The Canadian dollar retreated this week but didn’t lose too much. The week ahead contains the GDP release, a rate decision and a few more important events. Here’s the 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: One figure is [...]

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