The Canadian dollar posted its fourth straight losing week, declining about 1%. In Monday’s European session, USD/CAD is trading at 1.4397, up 0.16% at the time of writing. Canada’s GDP expected to remain at 0.1% The market is keeping expectations low for today’s GDP report, with a forecast of 0.1% m/m for October after a […]

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CADJPY, Daily In the Daily timeframe, CADJPY formed a symmetrical triangle pattern. The price is testing the upper trend line and MA50. At the same time, the lips crossed the jaw of the Alligator, indicating a possible upside. If the bulls push the price above the trend line and 109.000, the upside to 111.200 will […]

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Last week was chaotic. The Federal Reserve’s (Fed) hawkish 25bp cut, the hint from the dot plot that there would be only two rate cuts next year instead of four – because the US economy is too strong to continue the cuts as previously predicted – and the US debt limit shenanigans even before Trump […]

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Canada joined the global political gloom. The sudden resignation of the finance minister on Monday started raising questions about Trudeau’s leadership as politicians there try to find ways to deal with economic slowdown topped by Trump’s tariff threats. Happily for the Bank of Canada (BoC), inflation dropped below the 2% target for the second time […]

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Canadian Dollar trades broadly lower today while commodity currencies are generally soft. Canada’s CPI report reinforced the outlook of stable inflation hovering around target. BOC has likely completed its aggressive rate-cutting phase and pauses in policy easing are anticipated at some meetings next year. Nonetheless, the direction remains clear: further rate reductions are expected to […]

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USDCAD unlocks new 4-year high, poised for further gains Caution required as overbought signals detected US retail sales, Canadian CPI due at 13:30 GMT USDCAD has been performing exceptionally well after forcefully breaking a symmetrical triangle on the upside. The pair unlocked a four-and-a-half year high of 1.4279 earlier today, continuing to press toward the […]

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Markets Yesterday’s PMI releases in Europe and the US confirmed the ongoing divergence in growth on both sides of the Atlantic, cementing market expectations on similar divergence in Fed and ECB policy. The S&P global US flash PMI showed output growth at the end of the year at a 33-month high (56.6 from 54.9) amid […]

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Sterling remains resilient, as supported by UK employment data indicating that wages remain robust. This development aligns with improved conditions in the UK’s services sector, as seen in yesterday’s PMI release, and suggests that underlying price pressures have not diminished despite growing pessimism tied to the Autumn Budget’s uncertainty. Markets maintain near-zero expectations for a […]

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European Central Bank (ECB) President Christine Lagarde has signaled that more interest rate cuts may be coming if upcoming inflation data matches expectations. Speaking at the Bank of Lithuania, Lagarde mentioned that the eurozone is nearing its 2% inflation target and hinted at further easing if the current trends continue. The ECB recently reduced interest […]

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 USDCAD reversed from support zone Likely to rise to resistance level 1.4300. USDCAD currency pair recently reversed up pivotal support level 1.4140, former resistance level which reversed the price sharply at the end of November. The upward reversal from the support level 1.4140 started the active impulse wave 5 of the higher order impulse wave […]

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Australia’s economic rollercoaster; Aussie in new negative paths New Zealand’s challenging year; Kiwi may dive further Canada’s economic rebound; Loonie unlocks new lows AUDUSD: Bearish sentiment starts in 2024 Australia’s economy demonstrated a mixed performance this year. The RBA maintained the cash rate at 4.35% to combat persistent underlying inflation, which remained around 3.5%. Economic growth was […]

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The forex market began the week on a subdued note, with mild risk-off sentiment setting the tone. China’s latest economic data painted a bleak picture, with retail sales significantly underperforming expectations and fixed asset investment experiencing a deeper decline. While industrial production growth met forecasts, it failed to offset concerns about the broader economic slowdown. […]

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GBP/USD started a fresh decline below the 1.2720 zone. USD/CAD is rising and might aim for more gains above the 1.4245 resistance. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started another decline from the 1.2800 resistance zone. There is a short-term declining channel forming with resistance at 1.2650 on the hourly […]

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Dollar ended as the strongest performer last week, boosted by a surge in U.S. Treasury yields following persistent inflation data. Despite expectations of another 25bps rate cut at the upcoming FOMC meeting, stubborn price pressures are likely to slow the pace of policy easing next year. Adding to the caution, inflation uncertainties under the incoming […]

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In focus today In the euro area, we expect the ECB to deliver a 25bp rate cut. Although that is the consensus, markets price in around a 15% probability of a 50bp cut this morning according to Reuters. Rather than focusing on the size of the rate cut, we should focus on where the policy […]

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GBPCAD reversed from strong resistance zone Likely to fall to support level 1.8000 GBPCAD currency pair recently reversed down from the strong resistance zone located at the intersection of the upper daily Bollinger Band and the key resistance level 1.8100, which has been reversing the pair from September. The downward reversal from this resistance zone […]

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Markets Today’s November US CPI inflation numbers convinced final doubters that the Fed would stick to the plan set out in the September dot plot and lower rates by 25 bps at its policy meeting next year. The data printed bang in line with expectations: a 0.3% monthly increase in both headline and core CPI […]

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The Canadian dollar is drifting on Wednesday, ahead of the Bank of Canada rate decision later today. In the European session, USD/CAD is trading at 1.4181, up 0.10% at the time of writing. BoC expected to slash rates by 50 basis points The Bank of Canada is widely expected to end the year on a […]

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USDCAD slows pace after fresh four-year high Bears wait below 1.4150, but uptrend could stay intact BoC rate announcement due at 14:45 GMT USDCAD broke above a neutral symmetrical triangle with a bang last Friday, surpassing November’s four-year high of 1.4176, but since then the pair has been losing pace, raising questions about whether the rally is […]

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As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus. Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by […]

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