Results for 'USDCAD'
23 articles with this tag name
Updated May 21, 2013 10:30:00 AM
This cross has broken above short term resistance at 1.0300 this afternoon, the highest level since early March. There are no specific drivers for the move, and it seems like USDCAD is being driven by 1, a strengthening dollar and 2, overall weakness in the commodity bloc currencies. When the markets cross important resistance zones a couple of things can happen: 1, the trend continues, 2, the market gets cautious or 3, the trend reverses.
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Updated May 17, 2013 5:30:00 AM
On Thursday we mentioned that USDCAD was approaching 1.0230 – a key resistance level. This key level, so where can it go now? Fundamental perspective: This dollar continues to recover on the back of some hawkish commentary from Fed members. San Francisco Fed President John Williams waded into the debate last night and said that the Fed may start to buy bonds in the next few months. Williams’ comments come after Fed member Charles
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Updated May 16, 2013 7:50:00 AM
It’s another key day for US economic data. As debate heats up about the timing of a possible exit of QE3, economic data is becoming even more important. Today’s highlights include inflation, initial jobless claims, housing starts and Philadelphia Fed survey. Inflation and labour market data are critical inputs for QE3, while the recovery in the housing market is necessary for economic momentum to continue and the Philly Fed is worth watching as it is
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Updated May 9, 2013 10:40:00 AM
After a fairly dull week of mostly second tier data, Thursday’s events have been more interesting. The key data releases were UK production data, the Bank of England policy announcement and US initial jobless claims. After no change at the BOE, it was left to last week’s initial jobless claims in the US to really get markets moving. Jobless claims fell to 323,000, down 1,000 from last week, which is the lowest level for
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Updated May 8, 2013 3:10:00 PM
In a little over 2-weeks, USDCAD has moved from just below 1.03 to on the verge of testing parity. During this period of time Canada also saw an improvement in economic data: Additionally, the Bank of Canada named Stephen Poloz, a former central bank economist and head of Export Development Canada, as the successor to Governor Mark Carney. This actually saw USDCAD rally off the 100-day sma, as many participants believed he would focus on exports
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Updated May 2, 2013 6:00:00 PM
USDCAD has come onto our radar recently as it has moved inversely to our proprietary model, with the model remaining firm and price continuing to decline. Backdrop: These models were built in an effort to determine where many of the FX pairs should be trading, thus we continuously monitor currencies which we have deemed to have a stronger degree of explanatory power using our regression analysis (R2), with variables which we see as statistically significant.
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Updated Apr 26, 2013 2:50:00 PM
Backdrop: Often you may hear about ‘month end’ flows having a positive or negative effect on a currency during the last day(s) of the month. Thus, we’ve decided to take a look at asset market capitalizations in the major market economies to help us try to determine which direction these ‘flows’ may move. Typically, the largest impacts are seen into the 11am ET fixes (of the last few days of the month) as hedge and/or
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Updated Apr 17, 2013 6:00:00 AM
It’s been a week of big moves, and yesterday was the euro’s turn to impress. EURUSD has jumped 100 pips after dipping below 1.3050 post the gold sell off on Monday. What has been interesting is that if the gold/ commodity sell off is on the back of growth and deflation fears then the euro’s resilience has been impressive. On a purely fundamental basis there is a good case to call the euro lower, for
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Updated Mar 27, 2013 6:00:00 AM
The FX space is fairly uninspiring today as Europe gears up for the Easter holiday later this week. The EUR weakened below 1.28 to its lowest level since November, while the yen also faltered after a newspaper article suggested that the BOJ will discuss merging its two asset purchase programmes into one when it meets next week. The key fundamental focus today is Cyprus and the anticipation of the re-opening of its banks, which
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Updated Mar 26, 2013 4:55:00 PM
Backdrop: Often you may hear about ‘month end’ flows having a positive or negative effect on a currency during the last day(s) of the month. Thus, we’ve decided to take a look at asset market capitalizations in the major market economies to help us try to determine which direction these ‘flows’ may move. Typically, the largest impacts are seen into the 11am ET fixes (of the last few days of the month) as hedge and/or
[...] Continue Reading
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