USD/CAD continues to push higher above 1.31 after dismal Canada data

Manufacturing sales in Canada contract in April. NY Fed Manufacturing Index beats expectations. USD/CAD rises to its highest level in nearly year above 1.31. The USD/CAD pair, which closed the previous day with a 150 pips gain, built on it recent gains at the beginning of the NA session an ...

USD/CAD: Driven by trade risks – Westpac

Recent upward grind in USD/CAD likely peters out into 1.31/1.32 though much depends on fluid NAFTA break up risk, according to Richard Franulovich, Research Analyst at Westpac. Key Quotes “If anything the latest signals out of the acrimonious G7 meeting hardly inspire confidence.&rdquo ...

USD/CAD clocks fresh yearly tops near 1.3150 on USD strength

Bulls take-out 1.3150 barrier amid persistent broad USD demand. Will the rally sustain ahead of the US industrial output and Canadian manufacturing data? The USD/CAD pair built on its yesterday’s extensive rally and reached the highest levels since June 2017 just ahead of the 1.3150 mark ...

USD/CAD: bulls looking for a daily close above bearish wedge resistance

USD/CAD flips over with the greenback on the attack. 1.3124 is now up for grabs on closes outside of the bearish wedge's resistance. USD/CAD is back up to the top of the bearish wedge and at the highest levels since 19th March having scored a high of 1.3082. Currently, USD/CAD is tradin ...

USD/CAD Technical Analysis: Greenback climbs back above the 1.3000 level

USD/CAD found support at the current week’s low near 1.2950 and is now hovering just below the 1.3020 level.  Despite a strong USD demand across the board USD/CAD remains essentially range bound this week in a 100-pip range between the 1.2950 and 1.3050 level.  USD/CAD 15-minut ...

USD/CAD could drop and test 1.2850 – Scotiabank

FX Strategists at UOB Group noted the pair keeps the neutral tone in the near term, although it could slip back to the mid-1.2800s. Key Quotes “Momentum signals are neutral, DMI’s are muted, and the ADX trend strength indicator is weak”. “USDCAD has struggled to extend it ...

USD/CAD advances beyond 1.30 as DXY jumps above 94

ECB meeting weighs on European currencies, boosts the demand for the USD. DXY rises to fresh 2-week high above 94. USD/CAD erases daily losses, turns positive above 1.30. The USD/CAD pair added more than 50 pips in the last hour and rose above the critical 1.30 mark after the ECB announcement ...

USD/CAD holds weaker below 1.30 handle

   •  USD fails to gain any traction and keeps exerting downward pressure.    •  Subdued action around oil markets does little to influence the pair.    •  Traders now eye US monthly retail sales data for some fresh impetus.  Th ...

USD/CAD drops below 1.30 as DXY fades FOMC-led spike

FOMC announces 25 bps rate hike in line with market expectations. Median forecast of Fed policymakers is for a total of four rate hikes in 2018. The DXY spikes above the 94 mark with the initial reaction but loses momentum. The USD/CAD pair jumped to a weekly high of 1.3050 with the initia ...

USD/CAD Technical Analysis: US Dollar losing about 80 pips ahead of FOMC

USD/CAD lost about 80 pips after attempting to break above last week’s high at 1.3069.  In the current trading range environment, the recent sell climax is likely to be consolidated in the coming hours.  However, investors need to be aware that the FOMC meeting rate decision i ...

USD/CAD drops to 1.30 as greenback weakens ahead of FOMC

The USD/CAD pair struggles to preserve its bullish momentum above 1.30. DXY turns negative below 93.70 in the early NA session ahead of FOMC. May  PPI figures from the US surpass the expectations. The USD/CAD pair started the day on a positive note on Wednesday and advanced to its bes ...

USD/CAD keeps the trade above 1.3000 ahead of FOMC

The pair keeps the upside well and sound above 1.3000. Spot is eroding the key resistance line off 2016 peaks. US FOMC meeting expected to drive the sentiment later in the day. The greenback keeps the positive note vs. its Canadian peer on Wednesday, with USD/CAD managing to keep the trad ...