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CAD News

This is a discussion on CAD News within the Analytics and News forums, part of the Trading Forum category; USD / CAD floating in the region of 1.2800 The USD/CAD pair trades around 1.2800 gaining 0.15% on Thursday as ...

          
   
  1. #21
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    USD / CAD floating in the region of 1.2800

    The USD/CAD pair trades around 1.2800 gaining 0.15% on Thursday as the US dollar is supported and bond yields continue to rise.

    In Asia and Europe, the Loonie found an intraday floor at 1.2752, then the pair rose and stabilized in the 1.2800 region at the beginning of the US session.

    The US dollar index (DXY), which measures the dollar in relation to a basket of currencies, continues the trend of recent weeks gaining 0.15% on Thursday. The 10-year Treasury yield index also continues its upward trend and reaches levels not seen since the summer of 2011.

    In fact, investors are moving away from bonds as they are considered higher risk assets than maintaining the US dollar. Since the Federal Reserve Bank is expected to raise interest rates three to four times in 2018, market participants will buy the greenback, as they think it is likely to increase in the future, as well as its performance quality.

    The CAD is adjusted correlated with oil prices that are in the broader time frame in a strong uptrend. Oil reached a new high of several years today, as it reached $ 72.30 a barrel.

    4 hour chart

    The trend is neutral to slightly bullish and support is seen at 1.2747 oscillation minimum followed by the minimum of 1.2727 set on May 11. On the upside, bulls should expect immediate support / resistance at the 1.2800 level then at the 1.2850 demand level followed by the 1.2926 swing high. The Loonie is trading above its simple moving average (SMA of 200) but below its SMA of 50 and 100 periods, suggesting a slight upward bias.

    CAD News-usdcad.png

  2. #22
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    Dollar/CAD closed a turbulent week on the upside as trade concerns and the Fed pushed the greenback higher. What’s next? Canadian retail sales and inflation on Friday stand out. Here are the highlights and an updated technical analysis for USD/CAD.

    US President Trump and Canadian PM Trudeau clashed in the G-7 Summit that was disastrous and ended without a communique. That sent the pair higher. Later in the week, US inflation accelerated and retail sales beat expectations. The Fed not only raised rates but also signaled two additional increases and sent a very optimistic message. The US dollar continued forward and trade concerns gave a boost to the pair later in the week when the US imposed tariffs on China. All in all, there is a lot to worry about for Canada and a lot going in favor of the USD.

  3. #23
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    CAD News

    Canada GDP m/m came out today at -.1 .3 lower than expected, Ive also been under the impression that CAD has been hurting due to falling oil prices. And yet, when that terrible news came out, Canada shot UP a million and a half pips, and still climbing. I dont get it...

    Any thoughts on this?

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  1. 03-02-2017, 05:56 PM

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