USD/CAD Falters Near 1.3730; Eyes on US, Canada Jobs Data
USD/CAD Falters Near 1.3730; Eyes on US, Canada Jobs Data The USD/CAD pair is experiencing a slight dip in the vicinity of 1.3730 as market participants eagerly anticipate labor market data from the US and Canada. The US Dollar (USD) has been on a losing streak, which has led to the CAD’s current position. In […]
USD/CAD Steady Above 1.3500s, Eyes on US CPI Report
USD/CAD Steady Above 1.3500s, Eyes on US CPI Report In the early hours of Wednesday’s Asian trading session, the USD/CAD currency pair found itself in a stable position, hovering just above the mid-1.3500s range. This marks a phase of consolidation for the pair, following its recent descent to a one-and-a-half-week low that was recorded just […]
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data
USD/CAD Hovers at 1.3510 Despite Oil Strength, Awaits US NFP and Canada GDP Data The USD/CAD pair remains in a defensive stance around 1.3510, rebounding from its two-week low as it enters the European session on Friday. This resilience comes even as the pair fails to respond positively to the surging prices of Canada’s primary […]
USD/CAD settles at 1.3350, a one-month high, as the Oil price and US Dollar weaken
USD/CAD settles at 1.3350, a one-month high, as the Oil price and US Dollar weaken The USD/CAD currency pair has stabilized around the 1.3350 mark, a significant one-month high, in a volatile market landscape where key US economic data is keenly anticipated. This relative steadiness is due to a mix of contributing factors, including the […]
USD/CAD holds above the 1.3200 mark with limited upside potential
USD/CAD holds above the 1.3200 mark with limited upside potential During Tuesday’s Asian session, the USD/CAD pair exhibited a modest rebound, managing to recover most of the losses experienced in the previous trading session. Presently, the pair is hovering around the 1.3220 mark, reflecting a modest 0.25% increase for the day. This recent price action […]
USD/CAD Hits New 3-Week High Above 1.3370 as Investors Eye Canada/US Job Data
USD/CAD Hits New 3-Week High Above 1.3370 as Investors Eye Canada/US Job Data The USD/CAD pair has recently reached a new three-week high, hitting 1.3375 during the London trading session. This rally of the Loonie asset comes in spite of the prevailing weakness in the US Dollar Index (DXY), rising oil prices, and the anticipated […]
USD/CAD Sees Modest Gains Near 1.3230-35, Awaits FOMC Minutes
USD/CAD Sees Modest Gains Near 1.3230-35, Awaits FOMC Minutes The USD/CAD pair has been a focal point for investors during Wednesday’s Asian session. This currency pair saw an uptick in buying, allowing it to recover from its weekly low of approximately 1.3200 achieved on Tuesday. At present, spot prices are hovering around the 1.3230-1.3235 range, […]
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI
With recovering oil prices and a struggling US Dollar, USD/CAD is declining towards 1.3200 before Canada’s PMI Amid the recovery in oil prices and ongoing struggles of the US Dollar, the USD/CAD pair is experiencing a downward trend, moving towards the 1.3200 mark ahead of the release of Canada’s PMI. The USD/CAD has slid to […]
US Dollar holds steady to start week, eyes on central bank speak
US Dollar holds steady to start week, eyes on central bank speak The US Dollar (USD) holds steady early Monday after having suffered large losses against its major rivals last week. Stock and bond markets in the US will be closed in observance of the Juneteenth holiday. The European economic docket will not be featuring […]
Best 5 Most Traded Currency Pairs in 2023
Best 5 Most Traded Currency Pairs in 2023 Forex is the largest financial market in the world, with $6.6 trillion traded each trading day. The Forex market is open 24-hours a day, five days a week. There is plenty of opportunity for trading Forex. There is a lot to learn when you start trading Forex, […]
Bank of Canada to hold rates steady
Bank of Canada to hold rates steady Bank of Canada (BoC) is widely anticipated to maintain its pause this week, leaving interest rates unchanged at a 15-year high of 4.50%. Governor Macklem has emphasized that there’s no need for additional rate hikes if the economy unfolds according to central bank’s projections, which forecast stalling growth […]
The 5 Major Currency Pairs in Forex Market
The Importance of Major Pairs The foreign exchange market is a place where trading in all currencies takes place. However, the volume of trade that takes place in different currencies varies greatly. Although there are hundreds of currencies in the world, about two-thirds of the massive $4 trillion foreign exchange trading volume is transacted in […]
Bank Of Canada Hike Rate by 75 BPS
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Bank Of Canada Hike Rate by 75 BPS The Bank of Canada interest rate decision meeting will be held on Wednesday, October 26th. BOC Governor Macklem will follow with a press conference beginning at 11:00 ET. BOC hiked rates by 75bps at their last meeting in September. This was the fifth consecutive rate […]
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY JPY: Household Spending y/y, it measures change in the inflation-adjusted value of all expenditures by consumers. JPY: Current Account, it measures difference in value between imported and exported goods, services, income flows, and unilateral transfers during the reported month. JPY: Economy Watchers Sentiment, it measures level […]
Decline from June High Mirrors Price Action from May
GBP: BRC Shop Price Index y/y, it measures change in the price of goods purchased at BRC-member retail stores. JPY: Retail Sales y/y, it measures change in the total value of sales at the retail level. AUD: Retail Sales m/m, it measures change in the total value of sales at the retail level. JPY: Consumer […]