USDCAD posts new 25-month high but currently stands beneath it Stochastics and RSI show positive signs USDCAD has been developing above the 20-day simple moving average (SMA) since the bounce off the 1.3815 support level and is trying to regain ground. Daily oscillators suggest that the upside momentum is still in place, reflecting the pullback…
Dollar, which has dominated currency markets in recent weeks, finally eased back last week. But this retreat does not necessarily indicate a reversal of its upward momentum. Instead, the greenback appears to be taking a breather ahead of the impending US presidential election. Closing as the second strongest performer among major currencies, Dollar still has…
Dollar emerged as the unequivocal winner in the currency markets last week. Both Dollar Index and 10-year US Treasury Yield surged through their respect technically significant 55 W EMA resistance. It remains to be seen whether traders are positioning ahead of the US presidential election results, which are less than two weeks away. However, the…
USDCAD adds 3.4% from 1.3420 Remains well above the SMAs MACD and RSI indicate overbought levels USDCAD has been creating a notable bullish rally since the bounce off the 1.3420 support level, taking the price to an almost three-month high of 1.3868. The pair added 3.4% on this rally, trying to switch the medium-term outlook…
USDCAD returns above 20-day EMA and familiar constraining line Technical signals cannot warrant a meaningful rally September’s US nonfarm payrolls due at 12:30 GMT USDCAD continued its upward movement from a seven-month low of 1.3418, surpassing its 20-day exponential moving average (EMA) and the constraining ascending line from the 2021 low. The range of 1.3580-1.3620, which…
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The financial markets have been more influenced by speculations than by concrete economic data, as anticipation builds ahead of Fed’s interest rate decision on September 18. Recent US economic indicators, including the latest CPI report and the prior week’s non-farm payrolls, pointed toward a cautious and modest 25bps rate cut. However, traders and investors chose…
Markets Trading slowed down to a trickle today in absence of US investors (Labour Day holiday) and amid an empty EMU eco calendar. A lot of ink has been spilled about this week’s key US eco data and their impact on markets and Fed policy. It allows us to have a look at this week’s…
The financial markets were marked by significant turbulence this last week again, dominated by risk aversion. Evidence are surfacing that the US economy is heading for a recession, or even hard landing. Speculation is mounting that Fed might be compelled to implement aggressive rate cuts, totaling 75 basis points or even a full percentage point…
AUDCAD rebounds and breaks above 0.9125 Overall, it remains above a prior upside channel The advance may continue towards the 0.9230 zone A dip below 0.9000 could signal a bearish correction AUDCAD rebounded strongly on Tuesday, extending its recovery above the key resistance zone of 0.9125. Overall, the pair is trading above the upper bound of…