Pro-Cyclical Currencies Rise In Asia
Pro-cyclical currencies, Asian currencies climb
Rebounding commodity prices and vaccine optimism have lifted pro-cyclical and Asian currencies this morning. The dollar index rose 0.83% to 90.83 on Friday, but a quiet day on the majors has seen it edge lower to 90.80 in Asia.
Far more activity is being seen on...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2174
Prev Close: 1.2073
% chg. over the last day: -0.83%
Friday saw the pair's largest intraday fall since March last year. The weekly candle closed in the red, forming a bearish engulfing. On the daily chart, the price has returned to...
Stocks Edge Up, Dollar Eases As Bond Markets Stabilize
Yields fall back as selloff in government bonds cools, but is the panic over?
Stocks get off to firm start as vaccine and stimulus hopes still at play
Risky currencies pare losses as dollar recedes from highs, gold bounces off lows
Calm returns to bond markets, but maybe not...
EUR/CAD 4H Chart: Could Edge Higher
The Eurozone single currency has surged by 1.08% against the Canadian Dollar since last week's trading sessions. The currency pair tested the 200–" period simple moving average at 1.5389 on Monday morning.
As for the near future, the exchange rate could continue to edge higher. A breakout through the upper...
USD/CAD Breaks Channel Pattern
Upside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout through the upper boundary of a descending channel pattern occurred during Friday's trading session.
Given that a breakout has occurred, bullish traders are likely to continue to pressure the exchange rate higher during...
CFTC Commitments of Traders – Risky Currencies Pulled Back on Profit-Taking
As suggested in the CFTC Commitments of Traders report in the week ended February 23, NET SHORT of USD Index futures dropped -436 contracts to 13 851. Speculative long positions added +1 750 contracts while shorts were up 1 314 contracts. Concerning European currencies, NET LENGTH in EUR futures...
The Weekly Bottom Line: BoC Govenor Strikes Cautious Tone
U.S. Highlights
Federal Reserve Chairman Powell reassured markets that there will be no early tightening of monetary policy or drawdown of asset purchases even with a brighter economic outlook.
Consumers remain at the forefront of the recovery, as personal income surges and spending rebounds on the back of income...
Week Ahead – NFP to Guide Yields, RBA Could be a Yawn, Pound Turns to UK Budget for Boost
As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The Reserve Bank of Australia’s policy meeting will be the only central bank gathering of the week but is unlikely...
USD Gains As Yields Rise
The USD tended to gain against a number of its counterparts yesterday, while US stockmarkets displayed sharp drops as USD enjoyed safe haven inflows and USD buyers were also encouraged by the rise of the US yields. Its characteristic of the bond sell off that the US 10-year treasury...
USDCAD Defies The Broader Bearish Outlook
USDCAD is opposing the overwhelmingly bearish picture with its recent bounce off a newly formed 3-year low, between the troughs of 1.2450 and 1.2527. The pause in the falling Ichimoku lines is reflecting the recent rebound in the price, while the sliding simple moving averages (SMAs) are safeguarding the prevailing...
USD/CAD Tests 200– Hour SMA
The US Dollar has surged by 161 pips or 1.30% against the Canadian Dollar since Thursday's trading session. The currency pair tested the 200– hour simple moving average at 1.2616 on Friday morning.
The exchange rate is likely to continue to edge higher during the following trading session. A breakout...
Yields Up, Stocks Down, Dollar and Yen Rebound
US stocks suffered steep selling overnight on sharp rally in treasury yields, and the selloff carried forward to Asian markets. Yen and Dollar ride on the turn in risk sentiments and rebounded, together with Dollar. Australian and New Zealand are in deep pull back, together with Sterling. Euro and...
CAD/CHF 4H Chart: Buying Signals
The Canadian Dollar has surged by 3.16% against the Swiss Franc since last week's trading sessions. The currency pair bounced off the lower boundary of an ascending channel pattern at 0.7020 on February 15.
As for the near future, the CAD/CHF exchange rate is likely to continue edge higher. Bullish...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2149
Prev Close: 1.2164
% chg. over the last day: +0.12%
After the outage of the Fed’s interbank system, the euro regained its position, closing the day with a slight plus. In the absence of important economic news, the pair continues to...
USD/CAD Breakout Occurs
The US Dollar declined by 84 pips or 0.67% against the Canadian Dollar on Wednesday. A breakout occurred through the lower boundary of a descending channel pattern during yesterday's trading session.
Given that a breakout has occurred, bearish traders could continue to pressure the exchange rate lower during the following...
GBP/AUD finished rebound, AUD/CAD resuming up trend
Aussie appears to be taking back the leading role in risk-on rallies now. After some hesitation, GBP/AUD finally breaks through 1.7787 support decisively, indicating completion of corrective rebound from 1.7412 at 1.0821. The cross is possibly now resuming the down trend from 2.0840. Further fall should be seen back...
Team Risk-On Extends Leads as DOW Hits New Records
As DOW hit another record with strong rise overnight, team risk-on is extending the lead over team risk-off in the currency markets. New Zealand Dollar is having a mild upper hand over Australian, Canadian and Sterling for now. But the Loonie is trying to catch up with rising oil...
USD/CAD Downtrend Continuation
The USD/CAD is bearish and we can even spot the M pattern at support. New lows are expected.
The M pattern is shown as the ABCD and point C is where the breakout has happened. We should see a continuation move lower to D L4 and below W L3 -...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2155
Prev Close: 1.2148
% chg. over the last day: -0.06%
In the absence of important economic data, the euro showed calm trading. The growth was stopped by the resistance level. The day closed slightly lower thanks to good consumer confidence in...
Yen And Franc Dive But Stocks Unable To Sustain Powell Bounce
Safe-havens yen and franc plunge again as Powell boosts recovery hopes
US stocks pull back from sharp dip but elevated yields continue to weigh
Pound catapults to fresh highs; aussie, kiwi and loonie soar too
Powell reassurance sends safe havens skidding
Growing optimism about a vaccine-led recovery continued to reverberate...
USD/CAD Bears Could Prevail
The US Dollar has declined by 82 pips or 0.65% against the Canadian Dollar since yesterday's trading session. The currency pair was pressured lower by the 50– hour simple moving average.
Technical indicators suggest selling signals on all time-frame charts. Most likely, the USD/CAD exchange rate could continue to edge...
USDCAD Finds Footing at Multi-Year Lows; Pauses its Descent
USDCAD is consolidating in the vicinity of the 34-month low of 1.2580. The Ichimoku lines are reflecting the pause in negative momentum, while the falling 50- and 100-period simple moving averages (SMAs) are promoting further deterioration in the price.
The short-term oscillators are conveying mixed signals in directional momentum. The...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2114
Prev Close: 1.2156
% chg. over the last day: +0.35%.
The growth of all three indicators of the ease of doing business in Germany from the IFO institute has become a driver for building up long positions in euros. Since not...
USD/CAD Decline Could Continue
During the first half of Monday's trading session, the US Dollar surged by 63 pips or 0.50% against the Canadian Dollar. However, the USD/CAD exchange rate abandoned the earlier gains at the end of the day.
All things being equal, the currency pair is likely to continue to decline. A...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.2089
Prev Close: 1.2117
% chg. over the last day: +0.23%.
Positive manufacturing PMI data supported the bulls on Friday. Despite the contraction in the services sector, bullish sentiment prevails as the composite index is also accelerating. In this light, the continuation...
USD/CAD Could Make Brief Retracement
Downside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, the USD/CAD exchange rate declined by 117 pips or 0.92% during Friday's trading session.
Technical indicators suggest selling signals on all time-frame charts. Most likely, bearish traders are likely to pressure the currency pair lower...
NZD Surges on Rating Upgrade, Eyes on RBNZ This Week
New Zealand Dollar opens the week higher after ratings upgrade by S&P. The Kiwi would now look into RBNZ's comments on the economy and new economic projections featured later in that week. Elsewhere, overall risk-on sentiments continue to support commodity currencies and Sterling. On the other hand, Yen and...
Aussie Surged With Industrial Metal Prices, More Upside in Favor
Stocks markets took a breather last week while focus turned to surging industrial metal prices and treasury yields. Strength in metals was seen more about supply shortage than recovery in demand. That somewhat also reinforced reflation trades. US 10-year yield was back above 1.3%, German 10-year bund yield at...
CFTC Commitments of Traders – USD Net Short Gained Slightly as Risk Appetite Improved
As suggested in the CFTC Commitments of Traders report in the week ended February 16, NET SHORT of USD Index futures dropped -412 contracts to 14 287. Speculative long positions slipped -97 contracts while shorts were up +315 contracts. Concerning European currencies, NET LENGTH in EUR futures dropped -216...
Canadian Dollar Hits 4-Week High
The Canadian dollar has posted slight gains on Friday. Currently, USD/CAD is trading at 1.2646, down 0.24% on the day.
Canadian dollar closes in on 1.26 line
The Canadian dollar has been creeping higher since mid-week. Earlier in the day, USD/CAD dropped to a low of 1.2609, its lowest level in...