Posts Tagged ‘us dollar’

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 […]

USDCAD Higher After Canadian GDP Inline with Forecasts

by Christopher Lemieuxon May 30, 2014 2:24 pm BST
The greenback gains against the Canadian dollar after data shows that Canada’s gross domestic product came inline with expectations at .1 percent, following the previous quarter’s .2 percent expansion. The poor showing was blamed on a harsh winter that hindered construction, business spending and exports. According to Statistics Canada, annualized gross domestic product was revised […]

Rupee Continues Rally on Modi Election

by Christopher Lemieuxon May 19, 2014 11:50 am BST
The rupee pushes higher to an 11-month high, increasing 2.1 percent last week, after the clearest Indian election in the last 30 years. Investor confidence was boosted when pro-business Narendra Modi’s Bharatiya Janata Party (BJP) won 282 of the 543 parliamentary seats, more than the 272 needed to form a government. The BJP has been […]