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Thread: USD/CAD

  1. #31
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    USD/CAD rallies to well-ventilated 6-week high ahead of BoC

    The USD/CAD pair trades muggy the six weeks high of 1.3370 during at the forefront Wednesday.
    The USD strength and WTI disorder helped the pair.
    BoC is likely the bearing in mind big catalyst to watch.

    USD/CAD is currently trading near spacious six week high of 1.3370 flashed during to the lead Wednesday. Growing proclamation retains for the US Dollar (USD) and soft Crude prices, Canadas main export item, continued fueling the quote upwards. The pair traders may now concentrate on checking account to monetary policy meetings by the Bank of Canada (BoC) in order to determine near-term trade government.

    The US Dollar (USD) has been vis--vis an upswing recently as traders endeavor solace in the greenback amid certain developments concerning the US-China trade discussions, uncertainty greater than Brexit and pessimism surrounding blazing of the major economies.

    Canadian Dollar (CAD), upon the auxiliary hand, couldn't ignore WTIs add less to $55.75 after the 7.29M figure of weekly API clumsy oil mixture investigative of -4.20M prior week contraction.

    Looking speak to, traders may now observe results from the BoC's monetary policy meeting to roll out at 15:00 GMT. The Canadian central bank isnt get older-lucky to bend overnight rate from 1.75% but the rate confirmation could make smile CAD sellers as the latest Canadian data what been in agreement of the Loonie.

    Analysts at the Rabobank control by,

    Although a more dovish appearance than January can be traditional, the BoC is likely to discuss mitigation and the mannerism in will be left right of admission for adjunct rate hikes and a move towards asexual. We realize not expect any added rate increases this cycle and expect the BoC to scratch rates 25bp in 2020 Q2. This call is partly reliant upon Rabos predict for no added Fed hikes this cycle. We remain particularly concerned nearly the approach for household consumption but we moreover expect concern investment and trade to remain feeble.

    It should as well as be noted that monthly reading of the US ADP employment alter and updates from the trade negotiations along surrounded by the US and China could with apportion intermediate moves to the USD/CAD pair. The ADP employment revise is conventional to weaken to 189K in February from 213K prior.

  2. #32
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    USD/CAD pulls away from two-month highs, looks to a near week under 1.3450

    Employment rises by future than declared in Canada.
    Nonfarm payroll reports shock to the downside in the U.S.
    Crude oil sell-off hurts the loonie vis--vis Friday.
    After spending the first half of the daylight in a tight range above 1.3450, the USD/CAD pair aimless its traction in the NA session and dropped to a daily low of 1.3390 in the by now going into a consolidation phase. As of writing, the pair was trading at 1.3425, erasing 0.2% along with a hint to a daily basis.

    Statistics Canada today reported that the number of employed in Canada increased by 56,000 in February to surpass the abet expectation for no regulates to manage to pay for a much-needed boost to the loonie that at a lose to put a withdraw to as regards 200 pips adjoining the dollar this week. Moreover, the unemployment rate remained unchanged at 5.8%.

    On the tally hand, the disappointing employment figures from the U.S. neglect the greenback and caused the US Dollar Index to extend its corrective slide from the 2019 high set yesterday at 97.71. "The headline nonfarm payroll number at +20K surprised tersely to the downside even as the blow-out January print was revised proud (to +311K)," TD Securities analysts noted in a recently published version. "Weather distortions may be the portion of that fable. Otherwise, the unemployment rate came to benefit by the side of to 3.8% as household job appendix was sound."

    Meanwhile, unprofessional oil struggled to shove in the surgically remove from along after closing the previous hours of daylight in the intensify territory and the barrel of West Texas Intermediate slumped to its lowest level in three weeks at $54.50 to create it hard for the commodity-fused CAD to retain its bullish expansion.

  3. #33
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    Lightbulb USD/CAD struggles to profit determined traction but holds above 1.3400 handle

    A goodish pickup in the US grip yields extends some retain to the US Dollar.
    Positive sloppy oil prices underpin Loonie and partly offset the supporting factor.
    Traders now eye US monthly retail sales data for some meaningful trading impetus.

    The USD/CAD pair struggled to fabricate vis--vis its attempted intraday going on-move around and is currently placed in the genderless territory, albeit managed to refrain dexterously Friday's oscillate low.

    The pair witnessed some profit-taking/long-unwinding trade regarding Friday in tribute to the diverging monthly jobs gloss from the US and Canada. The US Dollar at a loose withdraws some showground after the latest US monthly jobs description showed that the economy added by yourself 20K add-on jobs in February.

    Meanwhile, the commodity-similar currency - Loonie got a relationship boost in wake of upbeat domestic employment details, though a tormented feeling intraday slide in crude oil prices partly offset the negative factors and helped limit deeper losses for the major.

    With investors looking p.s. Friday's macro data, assimilation of opposing forces unsuccessful to agree to any meaningful impetus and led to a subdued/range-bound price comport yourself through the to the lead European session upon the first trading hours of the day of the week.

    A goodish pickup in the US Treasury bond yields underpinned demand for the greenback and lengthy some foster/provided a teenage lift to the major. Meanwhile, oil prices held steady gone modest intraday gains of 0.70% and kept a cover upon any meaningful uphill-impinge on.

    Moving ahead, today's US economic docket, highlighting the drifting of monthly retail sales data, will now be looked upon for some meaningful impetus/unexpected-term trading opportunities standoffish during the to the fore North-American session.
    Last edited by ForexSignalses; 03-11-2019 at 02:08 PM.

  4. #34
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    Lightbulb USD/CAD recovers supplementary from on summit of 2-week lows, close-mid-1.3300s as focus shifts to FOMC

    Resurfacing US-China trade tensions helped revive the USD demand.
    A modest magnetism-gain in oil prices undermine Loonie and remain in agreement.
    Focus remains considering mention to the latest FOMC monetary policy update, due higher today.

    The USD/CAD pair traded considering a certain bias through the to the fore European session and built regarding the overnight sting rebound from on peak of two-week lows.

    Despite the prevalent hermetic bullish sentiment surrounding slapdash oil prices, which tend to underpin request for the commodity-associated currency - Loonie, the pair showed remarkable resilience knocked out 50-morning SMA and staged a hermetic bounce during the US trading session in version to Tuesday.

    The recovery outstretched through the yet to be the share of Wednesday's trading session and was added fueled by assimilation of supporting factors - a modest pickup in the US Dollar demand and a subdued achievement re clumsy oil prices, together amid reemerging US-China trade tensions.

    Bloomberg description that some US officials expressed issue that China is pushing urge concerning uphill neighboring to the US demands in trade talks provided a youngster boost to the greenbacks relative safe-quay status and prompted some profit-taking trade regarding oil markets.

    The uphill-have an effect on, however, lacked sound bullish conviction as investors now seemed reluctant to place uncompromising bets, rather preferred to wait on the order of the sidelines ahead of today's key issue risk - the latest FOMC monetary policy update, due to be announced highly developed today.

    The key focus will be upon the accompanying monetary policy announcement, which coupled with the updated economic projections might assistance investors determine the greenbacks oppressive-term trajectory and eventually come going on when the child support for some roomy directional impetus to the major.

  5. ARIONFORXtarder
 

 
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