Posts Tagged ‘canadian-dollar’

USDJPY and USDCAD Intraday Outlook: 7/7

by Christopher Lemieuxon July 7, 2014 6:20 pm BST
The US dollar fell from resistance on the assumption that the recent positive labor market data will cause the Federal Reserve to exit their nearly six years of quantitative easing early, as well as leading into the first Fed funds rate increase since 2008. Andrew Wilkinson, chief market analyst at Interactive Brokers, said “the market is getting […]

Canadian Dollar Posed for Breakout, Although in Overbought Territory

by Christopher Lemieuxon July 3, 2014 6:25 pm BST
The Canadian dollar futures is poised for a breakout as price action buds against price resistance at .9400, after the loonie picked up demand after the US dollar momentum faded after today’s non-farm payrolls report. The US Labor Department data showed that 288,000 jobs were added in June. Mark Chandler, head of Canadian fixed-income at […]

USDCAD Downtrend Intact; Is 1.06 Next?

by Christopher Lemieuxon June 30, 2014 8:16 pm BST
USDCAD is down modestly after the Canadian dollar paired back losses following a less than expected gross domestic product figure, .1 percent increase opposed to expectations of .2 percent. The sluggish Canadian economy is halting any expectations of the Bank of Canada (BoC) increasing interest rates. However, the downtrend in the US dollar is adding […]

Loonie Strengthens Against Greenback; USDCAD Testing Channel Support

by Christopher Lemieuxon June 12, 2014 3:18 am BST
The Canadian dollar strengthened against the US dollar, pushing the exchange rate through 1.0900. Commodity linked currencies have seen support over the recent week, and crude’s challenge of $105 per barrel has helped the loonie firm up against the greenback. Darcy Brown, managing director at Capital Markets Trading, said “the commodities-based currencies are more or […]