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Thread: USD CAD

  1. #191
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    USD/CAD jump 7 month high on Canadian data

    The U.S. dollar climbed to fresh seven-month highs against its Canadian counterpart on Friday, as expectations for a near-term U.S. rate hike continued to support the greenback, while disappointing data from Canadian weighed on demand for the local currency.

    USD/CAD hit 1.3351 during early U.S. trade, the pair’s highest since March; the pair subsequently consolidated at 1.3327, climbing 0.76%.

    The pair was likely to find support at 1.3181, the low of October 13 and resistance at 1.3553.

    The dollar continued to be underpinned by hopes for a 2016 rate increase, after New York Fed President William Dudley said on Wednesday that the U.S. central bank will likely raise interest rates later this year if the economy remains on its current trajectory.

    Meanwhile, Statistics Canada reported on Friday that the consumer price index ticked up 0.1% in September, disappointing expectations for an increase of 0.2% and after a 0.3% slip the previous month.

    Year-on-year, consumer prices gained 1.3% last month, below expectations for a 1.5% climb.



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  2. #192
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    CAD almost unchanged, just off 9-month peak.


    The Canadian dollar was almost unchanged against its Canadian counterpart on Monday, after rising to a nine-month peak earlier in the day as Donald Trump’s shock election last week continued to support the greenback.


    USD/CAD hit 1.3588 during U.S. morning trade, the pair’s highest since February; the pair subsequently consolidated at 1.3548.


    The pair was likely to find support at 1.3450, Friday’s low and resistance at 1.3588, the session high and a nine-month high.

  3. #193
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    USD/CAD rises two weeks highs.


    he U.S. dollar rose against its Canadian counterpart on Friday, just off the previous session’s two-week highs as the Federal Reserve’s recent rate hike continued to support the greenaback.


    USD/CAD hit 1.3384 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3384, gaining 0.35%.The pair was likely to find support at 1.3265, Thursday’s low and resistance at 1.3418, Thursday’s high and a two-week peak.The greenback found broad support after the Fed concluded its policy meeting on Wednesday by raising interest rates by 25 basis points and projected three more rate hikes for 2017.It was the Fed’s first rate hike since December 2015.

  4. #194
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    Canadian dollar struggles.


    The Canadian dollar struggled to make headway after touching a three-week high against its broadly weaker U.S. counterpart on Thursday, in spite of higher prices for oil, a major Canadian export.


    USD/CAD was trading at 1.3294, almost unchanged for the day.


    The pair’s strongest level of the session was 1.3314, while its weakest was 1.3255, the lowest level since December 14.

  5. #195
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    USD/CAD Dips on weaker US Dollar

    The loonie extended hawkish tone against its south greenback neighbor. USD/CAD dilated the bearish momentum further more, dropping yesterday from 1.3456 high, and landed today on 1.3254 low, currently trading 1.3292 intraday.

    Canadian dollar took advantage first on weaker US index performance after strong tone by the US fed on Trump's fiscal policy boost, warning that it might poses inflation risk. As a result, the US index sank today to 101.73 15-Dec-fresh-lows, currently trading 102.26. Second, crude oil prices sustaining 53 levels which boosted the loonie further more.

    USD/CAD is highly volatile today due first to US index levels, second crude oil inventories today that will settle oil levels which will impact Canadian economy, third US NFP report tomorrow, finally Canadian local data represented by the trade balance and employment rate. These are the main fundamentals that will effect USD/CAD cable.





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  6. #196
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    Loonie Dips on lower oil prices

    The Canadian dollar edged lower against its U.S. counterpart on Monday, pressured lower by falling prices for oil, a major Canadian export.

    USD/CAD edged up to 1.3247 and the pair’s strongest level of the session was 1.3277, while its weakest was 1.3226.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 102.23.

    Demand for the greenback continued to be underpinned after Friday’s U.S. non farm payrolls report for December, which showed a slowdown in hiring but the fastest wage growth in over seven years, supported the case for rate hikes this year.

    The Federal Reserve has indicated that three quarter-percentage-point interest rate increases are on the cards for 2017.

    Higher rates boost the dollar by making the currency more attractive to yield-seeking investors.

    The loonie, as Canada's currency is also known, came under pressure as oil prices were hit by concerns that an increase in U.S. production would offset an agreement between other major producers to cut output in a bid to reduce a global supply glut.

    Higher prices for oil, one of Canada's major exports, typically boost the Canadian dollar.


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  7. #197
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    USD/CAD is higher ahead of Trump remarks


    The U.S. dollar edged higher against its U.S. counterpart on Wednesday, as investors eyed highly-anticipated remarks by U.S. President elect Donald Trump due later in the day.

    USD/CAD hit 1.3255 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3253, up 0.17%.

    The pair was likely to find support at 1.3189, Tuesday’s low and resistance at 1.3278, Monday’s high.

    Later Wednesday, Donald Trump was scheduled to speak at his press conference since winning the U.S. presidential election in November. Market participants were eyeing any further information on Trump’s future economic policies.

    The greenback continued to be underpinned by expectations for higher interest rates this year.

    The Federal Reserve raised interest rates in December and indicated that it expects to hike rates three more times in 2017.

    Boston Fed President on Monday called for the U.S central bank to step up the pace of interest rate increases,warning that inflation could overshoot its target if it does not.




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  8. #198
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    Canadian Dollar little changed amid unease over Trump

    Then Canadian dollar was little changed against US counterpart on Monday as the lack of economic plicy details in U.S president Donal Trump's Inaugrations speech coupled with concern over his protectionist.

    USD/CAD edge up to 1.3333 little changed from Friday close.

    The US dollar index which measures the greenback strength against a trade-weighted basket of six major currencies, was down 0.21% to 100.58.

    But market sentiment was hit by the negative tone of the speech, which underlined uncertainty over how Trump will govern.

    Investors were looking ahead to the first official Trump administration press briefing later Monday, due at 13.30 ET.

    The Canadian dollar remained under pressure as the price of oil, a major Canadian export, fell.

    Oil prices dropped as indications of a recovery in U.S. oil output offset news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December.

    Also Monday, data showed that Canadian wholesale sales grew less than expected in November.

    Statistics Canada said wholesale sales rose 0.2% in November, falling short of forecasts for a 0.5% increase.


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  9. #199
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    Canadian dollar hits 2-week lows.


    The Canadian dollar fell to two-week lows against its U.S. counterpart on Tuesday as the greenback strengthened and lower prices for oil, a major Canadian export, weighed.USD/CAD hit highs of 1.3213, the most since January 24 and was last at 1.3168, up 0.69% for the day.The dollar strengthened across the board after Philly Fed President Patrick Harker said on Monday he would support hiking rates in March.


    Meanwhile, data on Tuesday showed that the U.S. trade deficit narrowed in December, to $44.3 billion, on the back of an increase in exports.The report also showed that the U.S. trade deficit hit a four-year high in 2016, at $502.3 billion, up from $500.4 billion in 2015.The data was likely to bolster President Donald Trump’s claims that the U.S. needs to take a tougher approach on trade.In Canada, official data showed that the country posted a C$923 million trade surplus in December, as crude oil exports jumped.November's surplus was revised sharply higher, but while overall exports rose by 0.8% in December, export volumes actually fell by 1.4%.
    Another report showed that the value of Canadian building permits in December fell by 6.6% from November.

  10. #200
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    Canadian dollar into 1-1/2 week lows.


    The Canadian dollar fell to one-and-a-half week lows against its broadly stronger U.S. counterpart on Tuesday despite higher prices for oil, a major Canadian export, as hopes for a rate hike next month boosted the greenback.USD/CAD hit highs of 1.3163, the most since February 9 and was last up 0.28% at 1.3140 as markets in the U.S. and Canada reopened after a long weekend.


    The U.S. dollar was boosted after comments by a Federal Reserve official hinted a possible interest rate hike next month. Cleveland Fed President Loretta Mester said late on Monday she would be “comfortable” raising interest rates at this point as inflation pressures pick up. The comments came as investors were turning their attention to the minutes from the Fed’s January meeting, due to be released on Wednesday, for signals on the pace of rate hikes.Last week Fed Chair Janet Yellen said a rate increase would be appropriate at one of the Fed’s forthcoming meetings.The Fed has indicated that it could hike rates three times this year.

 

 
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