USDCAD has continued to slightly retrace lower price levels despite the improved sentiment of the US dollar. This seems to have emanated from the improved inflation figures in Canada as well as the rising investment in the country’s AI sector. This combination has strengthened the Canadian dollar against the US dollar. Let’s further carefully analyze…
The USDCAD pair has seen significant upside recovery over an extended period. However, more recently, the market seems to be witnessing a dwindling bullish momentum. This seems largely due to investors anticipating important US economic data such as the Initial Jobless Claims, which has the potential to help the greenback record more gains. Key Price…
How to Trade the Current EURUSD Trend – Forex Forum November 20, 2024 /Posted byGVI Forex / 162 / Source…
USD/CAD has reached our end of year target of 1.40 and we fully expect the pair to reach the 1.42 level we highlighted for Q1, Rabobank’s FX analysts Molly Schwartz and Christian Lawrence note. USD/CAD likely to reach 1.46 next year “That said, given two main drivers we outline below, we now expect further extension…
The US dollar has maintained its strong stance since the arrival of key economic data such as the CPI and GDP growth. This has fueled an upward correction in the greenback. Consequently, this caused the USDCAD to continue its upward correction through the 1.4000 resistance level. Key Price Levels: Resistance Levels: 1.4100, 1.4300, 1.4500 Support…
Weekly FX Chart Outlook Nov 11-15 For the week ahead it is like digging out after what was not a normal trading week. So, use last week’s low/high as broad ranges (see below) that either have to narrow unless the USD highs are taken out. Most at risk is EURUSD, which found support…
Weekly FX Chart Outlook Nov 11-15 For the week ahead it is like digging out after what was not a normal trading week. So, use last week’s low/high as broad ranges (see below) that either have to narrow unless the USD highs are taken out. Most at risk is EURUSD, which found support…
Fundamental Overview The US Dollar started the week on the backfoot as the odds of a Harris victory jumped higher leading to a pullback in the Trump’s trades. Everything hinges on the US election now with a red sweep seen as the most bullish scenario for the greenback, while a blue sweep as the most…
USD/CAD falls slightly to near 1.3900 after the US NFP report for October. Labor growth was significantly lower due to hurricanes that affected various regions. The US Manufacturing PMI surprisingly declined at a faster pace. The USD/CAD pair corrects mildly to near the round-level support of 1.3900 in Friday’s New York session. The Loonie asset…
USD/CAD regains footing as anticipation for another Bank of Canada interest rate cut mounts due to flat economic growth in August. US PCE core inflation remains at 2.7% in October, slightly above market expectations. US Initial Jobless Claims fell to 216K in the week ending October 25, below the market’s consensus. The USD/CAD pair gained…