Results for 'CAD'
32 articles with this tag name
Updated May 21, 2013 6:12:15 PM
NZDCAD has been on a downward trajectory since early April, with the sell-off intensifying after the pair broke through a key support zone around 0.8450 – bottom of daily Ichimoku cloud, trend line support and 100day SMA. The resulting push lower sent the pair towards its 200day SMA, yet this support zone has held up thus far. In fact, the pair has drifted higher in the past few days as part of a natural retracement
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Updated May 16, 2013 6:47:48 PM
NZDCAD has been selling off hard since late April due to a broader flood out of the kiwi, which overshadowed a push higher in USDCAD. Whilst the main driving force behind recent weakness in NZDUSD and strength in USDCAD was a surge towards the US dollar, the NZ dollar was also hit by news that the RBNZ had intervened in the currency market to devalue the kiwi and may do so again. Furthermore, NZDCAD broke
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Updated May 14, 2013 8:50:00 AM
Last week, USD/CAD tested long term trendline support and the pair rebounded ahead of parity. It is consolidating within a triangle pattern and is currently testing the 50% Fibonacci retracement level of the move from the most recent test of the triangle top to the most recent test of the triangle base. This 50% level also coincides with the 21-day simple moving average (SMA) which is around 1.0150. A break above this area is likely
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Updated May 6, 2013 3:20:00 PM
The USD drifted higher and the Canadian dollar is outperforming in a relatively quiet trading session. The UK was on holiday and the only economic data releases out of North America came from Canada. March building permits jumped by more than expected to 8.6% (cons. 1.0%) and the Ivey PMI fell to 52.2 in April from 61.6 in the prior month. Markets focused more on the Canadian housing data as this has been an area
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Updated Apr 30, 2013 3:40:00 PM
The USD is lower again today as the FOMC kicked off a 2-day policy meeting and amid mixed economic data. Scandies outperformed with the NOK firmer after an unexpected drop in Norway’s unemployment rate while the NZD is underperforming after the surprisingly sharp drop in New Zealand housing data. US treasury yields are broadly lower and equity markets have moved into positive territory at time of writing. Expectations are for the Fed to stay the
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Updated Apr 23, 2013 4:05:00 PM
The US dollar is stronger across the board after weaker global PMI’s and a continued uptick in US housing market data. Growth concerns in Europe and in China were evident after disappointing PMI readings. China’s unofficial manufacturing PMI fell by more than anticipated to but remained above the 50 threshold with a print of 50.5 from the prior 51.6 – which suggests that the pace of expansion in manufacturing is slowing. In Europe, Germany’s PMI
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Updated Apr 17, 2013 3:50:00 PM
Sentiment fell and the USD benefitted as investors sought safety in the greenback. Earnings in the US disappointed which sent equities lower and the USD is currently stronger against all of the G10 currencies. The EUR experienced a sharp decline following comments by Bundesbank head Weidmann which were viewed as dovish. The central banker said that the ECB may adjust rates if the data warrants, indicating that a rate cut may be under consideration. However,
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Updated Apr 16, 2013 4:10:00 PM
Today’s price action in FX markets seemed to be a reversal of yesterday’s movement. The dollar is weaker against all of its major counterparts except for the Japanese yen which stood apart in the G10 space for the second day (yesterday at this time the USD was stronger against all of the G10 currencies except for the JPY). In recent days, the JPY has been more sensitive that the buck to the broader risk environment. Risk
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Updated Apr 9, 2013 4:05:00 PM
The dollar is weaker across the board and risk sentiment is mostly higher as central banks maintain easy policy, supporting the global recovery. The updated IMF World Economic Outlook released today noted that inflation is likely to remain stable in advanced economies and therefore “fears about high inflation should not prevent monetary authorities from pursuing highly accommodative monetary policy.” The ECB’s Asmussen echoed the statement and said that the Bank sees no inflationary pressures
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Updated Mar 27, 2013 4:25:00 PM
The dollar index1 rose to its highest level since August as several Fed members discussed policy and amid continued EU concerns stemming from both Cyprus and Italy. Cyprus officials announced capital controls as banks are set to reopen tomorrow and leaders in Italy continue to struggle to form a government. Italy sold bonds which saw demand lower and borrowing costs higher relative to the most recent auction of comparable bonds. The euro remained under pressure
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