The Canadian dollar was already on the back foot due a series of blows (see 3 reasons for the C$ crash). And then, came the FOMC decision. Janet Yellen and her colleagues lowered unemployment projections and announced a third taper. This gave the US dollar a boost across the board and the already sensitive loonie was hit badly. Here is the long term chart that reflects the surge of USD/CAD (fall of CAD): 1.1224 was the January 2014 high. In the immediate aftermath of the statement, we have seen the initial break, but the move was limited. As Yellen began talking, a second wave of US buying began and the breakout was confirmed. The last time that Dollar/CAD saw these levels was in June 2009: 4 years and 9 months. 1.1270 is the new high at the time of writing. The next major level is only at 1.1473. For more, see the USDCAD forecast. Analysis: Â 5 reasons for USD rally on the Fed decision Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUD/USD nosedives towards 0.90 on the Fed decision Yohay Elam 8 years The Canadian dollar was already on the back foot due a series of blows (see 3 reasons for the C$ crash). And then, came the FOMC decision. Janet Yellen and her colleagues lowered unemployment projections and announced a third taper. This gave the US dollar a boost across the board and the already sensitive loonie was hit badly. Here is the long term chart that reflects the surge of USD/CAD (fall of CAD): 1.1224 was the January 2014 high. In the immediate aftermath of the statement, we have seen the initial break, but the move was limited. As Yellen began… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
