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CANADA: Consumer Price Index, November 2016

The Consumer Price Index (CPI) rose 1.2% on a year-over-year basis in November, following a 1.5% gain in October. 12-month change in the major components Prices were up in six of the eight major components in the 12 months to November, with the shelter and transportation indexes contributing the most to the year-over-year rise in […]

Spike in Crude Push U.S Yields Through Key Levels

Five things the markets are talking about On the calendar front this is a busy week in capital markets. The Fed is expected to increase fed funds for the first time in 12-months. On Wednesday, the FOMC will issue both its policy statement and quarterly forecasts while Janet Yellen will take questions that will bridge […]

Lower GDP Takes Wind From AUD Sails.

A much lower than expected Australian 3Q GDP sends the AUD lower across the board. Australian Q3 GDP fell by a much lower -0.5%q/q today against a consensus forecast of -0.1%. Household spending has failed to recover from a lacklustre Q2, and across other sectors, house construction, CapEx and government spending were all weak. Although trade (read […]

Top trade idea for December 1st, 2016 – USDCAD

We’re still looking at the USDCAD pair as the latest OPEC saga didn’t bring anything new to the pair in the sense that price is not going anywhere. That being said, back on the daily chart above, the pattern seems to be virtually unchanged. OPEC agreed to cut oil production starting with next January and, […]

Top trade idea for November 30th, 2016 – EUR/CAD

Despite oil’s massive rally on the back of the OPEC news, the Canadian dollar, which tends to correlate strongly with oil prices, has hardly moved against its major rivals. Indeed, the USD/CAD momentarily turned positive. The EUR/CAD is still down on the day, but it too has held its own relatively well. One has to […]

Dollar Pares Gains to Offer Relief to Commodities

It’s been a slow start to trading on Friday, with yesterday’s bank holiday in the US weighing heavily on volumes and a severe lack of news flow leaving markets void of any significant catalysts. While today is not a bank holiday, trade is likely to remain very thin with many in the US opting to […]

Top trade idea for November 24th, 2016 – USDCAD

Back to the USDCAD pair today as the pattern that the market forms here is quite a complicated one. In the end, it turns out that this is a triangle that has for the e-wave a triangle of a lower degree. The whole structure is a very complex one and results in more than thirteen […]

USD/CAD – Trump Shock Pushes Canadian Dollar to 8-month Low

The Canadian dollar remains under pressure on Friday, as USD/CAD continues to post gains this week. In the North American session, USD/CAD is trading at the 1.35 line. On the release front, there are no Canadian events on the schedule. In the US, today’s highlight is UoM Consumer Sentiment. The indicator is expected to edge lower […]

Week Ahead – Trump Reflation Comments Boost USD

President-elect planning fiscal stimulus and tax cuts to boost growth The dollar is higher versus most major pairs as it continues to surge in the aftermath of the 2016 presidential election. The shock victory by Donald Trump is being taken in stride by the market after the initial recalibration of democratic win expectations. The dollar […]

Top trade idea for November 3rd, 2016 – USDCAD

Before taking a look at the chart above, please consider two things: it is on quite a big time frame, the weekly one, and it is being made exactly one week ago. The reason why I chose to make the chart a week ago is due to the fact that this pattern here requires the […]

The Dollar Beat Goes On

It was a very subdued session in both equities and currencies in Asia yesterday where range trade was the order of the day. The US dollar continued consolidating and exhibited some weakness in London, but the greenback ticked higher after a cheery report on the manufacturing sector when the US manufacturing PMI for October comfortably beat […]

Week Ahead US Growth to Boost Dollar

December interest rate hike optimism has lifted the USD to 8 month highs Fed member comments and economic indicators showing sustained growth have convinced investors that the U.S. Federal Reserve will raise the Fed funds rate when its meets at the end of the year. The CME FedWatch tool is now at a 70 percent […]

Currency Markets in a Flux

Australian Dollar The broader risk-off move that kicked in late last week has triggered currency sell-off in the EM complex while weighing negatively on high-risk currencies such as the Australian dollar. Add in the greenback   flexing its muscle on the back of mounting US rate hike speculation, and  it’s clear why the Aussie is […]

Market Focus on Commodity Currencies

Australian Dollar Rockets Higher  Equity markets have posted further gains over the past 24 hours, spurred on by the rally in oil markets when WTI came within a hair of $ 52.00  per barrel, posting a 15-month high at 51.94 on the back of the massive inventory draw on the DOE data. Commodity currencies, championed […]

Week Ahead ECB and US Inflation to Headline Busy Week

Central banks, Chinese GDP and U.S. inflation expected to impact market The USD advanced against most majors with the Canadian and Australian dollars the outliers as commodity prices continue to rally after the Organization of the Petroleum Exporting Countries (OPEC) production cut deal was announced. Chinese data is once again in the spotlight with the […]

US Data, Fed and Earnings in Focus

Focus will very much be on the US as we see out the end of the week. Recent moves in the pound and oil have overshadowed the US a little bit but today, it should take centre stage once again. The US retail sales number stands out for me as being the key release today. […]

Fed Speeches and Oil Data Eyed, GBP Remains Key

It’s been a relatively slow start to trading on Thursday as investors absorb the FOMC minutes on Wednesday, weigh up the next move in sterling as it trades around its all-time low and look ahead to the EIA crude inventory data. We’ve been through a busy volatile period for the financial markets and while I […]

USDCAD Canadian Dollar Lower Despite OPEC’s Oil Boost

The Canadian dollar depreciated on Tuesday after traders in Canada and the United States came back from holidays. Commodity currencies have been under performers this year as prices remain low. The Organization of the Petroleum Exporting Countries (OPEC) surprised markets with a tentative agreement to cut oil production and to discuss with non-OPEC members in […]

USD/CAD – Loonie Recovers as Canadian Job Numbers Sparkle, US Payrolls Comes Up Short

USD/CAD is showing strong volatility on Friday, as the Canadian dollar posted sharp gains earlier but has retracted in North American trade. Currently, USD/CAD is trading at the 1.32 line. On the release front, the spotlight is on employment numbers on both sides of the border. Canadian employment change posted a huge gain of 67.2 thousand, […]

USD/CAD Canadian Dollar Lower Ahead of US Jobs Report

The Canadian dollar depreciated versus the U.S. dollar ahead of the release of the U.S. non farm payrolls (NFP) report. The USD advanced across the board as the probability of a rate hike in December rose to over 60 percent. The Canadian dollar did not fall further thanks to the advance of the price of […]

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