Post Tagged with: "USD/CAD"
USD/CAD Rises As Current Account Outweighs GDP
The Canadian economy grew by 0.3% in March, better than 0.2% that was expected. But the deficit in the current account was three times the early estimations. USD/CAD bounces off support and rises. In February, the Canadian economy squeezed by 0.1% (revised from -0.2% initially reported) – the first contraction in 5 months. This disappointed
GBP/USD and USD/CAD Technical Analysis
GBPUSD: Bullish, Threatens The 1.6516 Level GBPUSD: As bullish pressure continues to build up, further upside risk is expected to target the 1.6516 level, its May 11’2011 high. This is coming on the back of a recovery rally started from the 1.6056 level on May 24’2011. With that said, to convince the market that a
USD/CAD and GBP/USD Technical Analysis
USDCAD: Holding Cautiously Above The 0.9709/20 Zone. Having rallied and closed above the 0.9709/20 levels, its April 18/May 05’2011 high on Monday, we believe further gains should follow though price hesitation is now seen. Guest post by www.fxtechstrategy.com This development supports its corrective strength started from the 0.9446 level, its 2011 low. Further out, 0.9824
USDCAD: Faces Further Declines
USD/CAD Having reversed its intra day losses and close higher above its April 27’2011 high at 0.9572 on Wednesday, further gains currently seen could push the pair towards the 0.9709/20 levels, its April 18/May 05’2011 high. Guest post by www.fxtechstrategy.com A convincing break above there will call for a run at 0.9824 level, its Mar 24’2011
USD/CAD Falls to Support as Canadian Job Market Improves
Canada gained 58,300 jobs in April, more than three times the early expectations. Also the unemployment rate was a pleasant surprise with a drop to 7.6%. A gain of around 18,000 jobs and an unchanged unemployment rate of 7.7%. were estimated. USD/CAD falls to support. USD/CAD is now at 0.9610,. It bounced off the 0.96
USD/CAD: Trading the Canadian GDP Release
Canada’s is unique by providing GDP on a monthly basis, providing action for USD/CAD each time. This release is expected to cut the winning streak. Here’s an outlook for this event 5 possible outcomes for USD/CAD. Indicator Background While the releases are scheduled two months after the reported month ended, they still provide a good
With Which Currency Should You Trade the Fed?
The answer to the question above depends on the outcome of the event: In case of a dollar-bullish outcome, vulnerable currencies should be traded against – this will result in stronger moves. In case of a dollar bearish result, the stronger currencies would be a better bet. And what about an outcome that is in
US Jobless Claims Disappoint – Trigger Risk Aversive Trading
The weekly American unemployment claims disappointed once again, showing 403K. Yet again, the outcome was above 400K, after it already managed to settle in the 380s. This shows that last week’s rise to 416K (revised higher from 412K) shows that the rise wasn’t a one time event. “safe haven” currencies are on the rise against
USD/CAD Dropping After Strong CPI
Canadian consumer prices came out significantly above expectations, with CPI rising by 1.1% and Core CPI at 0.7%. The Canadian dollar is strengthening – USD/CAD is making a sharp fall. Update. Price rises were expected to accelerate, but not at this pace: the headline consumer price index rose by 1.1%, after 0.3% last month. Expectations
USD/CAD Edges Up After Rate Decision
As expected, the Bank of Canada left the Overnight Rate unchanged. This decision, that contained concerns about the strength of the Canadian dollar, was widely expected by the markets. USD/CAD is trading slightly higher, under the resistance line. The rate statement that was released with the rate decision, talks about inflationary pressures from commodity prices,