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Canadian Dollar Technical Analysis: USD/CAD Breakout Ahead of FOMC, NFP

USD/CAD put in a strong breakout last week and price ran to a key zone of resistance. The question now is whether bulls can continue to drive and US and Canadian employment numbers are on the calendar for this Friday.


Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, GBP/CAD

Tiff Macklem kept the door open for more rate hikes out of Canada last week, and tomorrow brings inflation data ahead of next week’s Bank of Canada rate decision.


Canadian Dollar Technical Analysis: USD/CAD Pulls Back from Key Resistance

The bullish move in USD/CAD has been pronounced after the pair bottomed in July, but now the question of topping starts to come in as a major resistance level has come back into the picture.

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USD/CAD hits resistance ahead of BOC, US PMIs: European open – 06/09/2023

The Bank of Canada (BOC) are expected to hold rates at today’s meeting, given GDP unexpectedly contracted in Q2. Still, implied volatility has spiked higher for USD/CAD. Perhaps the BOC pause will not be as dovish as expected, Fed members tout a hold or the rise of bond yields (and therefore the US dollar) lose steam. If so, USD/CAD may be better for short bets beneath the April highs.

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September 6, 2023 01:25 AM

Canadian Dollar Outlook: USD/CAD Breakout Sets Up for Pullback

USD/CAD has been one of the stronger major pairs during the recent theme of US Dollar strength and after setting another fresh two-month-high this morning, the pair appears to be setting the stage for a pullback. Bulls have fiercely defended 1.3500 since the break – can they continue to hold the big figure?

Downwards trend with red arrow

Canadian Dollar Outlook: USD/CAD Breakout Barges Through 1.3500

The US Dollar has been in a strong bullish move over the past month but that’s been expressed well in USD/CAD, where USD strength has been matched with CAD weakness. USD/CAD tested a fresh two-month-high this morning while testing above a key psychological level at 1.3500. Can bulls hold the trend with higher low support at prior resistance?


Canadian Dollar Technical Analysis: USD/CAD, EUR/CAD, CAD/JPY

USD/CAD extended a bullish breakout this week while starting re-test of the 1.3500 psychological level. Bulls held the move despite US CPI coming in below expectations and CAD/JPY retains breakout potential given an ascending triangle formation. EUR/CAD on the other hand may offer some pullback potential given a hold at a key Fibonacci level of resistance.

Canadian Dollar Forecast: USD/CAD Clings to Recovery Ahead of BoC

USD/CAD snapped back aggressively on Friday, bringing to question a recovery move ahead of the Bank of Canada rate decision scheduled for this Wednesday.


European flash PMI’s and Canada inflation report in focus

CAD/JPY has piqued our interest ahead of today's economic data, which includes PMI's for Europe and the US and Canada's inflation and retail reports.

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February 21, 2023 12:09 AM

The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.


The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.


Yes, inflation may have peak but it “remains far too high”

Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.


Early signs of (dis)inflation continue to appear

Whilst inflation has been hard to ignore, we are now seeing signs that the cooling of inflationary forces are finally showing up in some consumer prices.

Eye-watering CPI could force 75-100 bps hike from BOC, DXY mean reverts

Canada’s inflation metrics rise across the board and beat estimates by a wide enough margin to increase the odds of some serious hiking by the BOC in June.

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April 20, 2022 06:22 PM

A complete guide to the Bank of Canada and interest rates

As with any central bank, when the Bank of Canada (BOC) changes interest rates, it can have a knock-on effect to stocks, indices and currencies. Find out everything you need to know about the BOC and how it’s decisions impact financial markets.

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April 21, 2021 06:20 AM

Also a good jobs report for Canada

Last Friday was also a good surprise on the jobs front for Canada as 289,600 jobs were added in May.

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June 7, 2020 10:39 PM

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BoC keeps rate unchanged

The Bank of Canada has kept its benchmark rate unchanged at 0.25% as expected.

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June 3, 2020 09:46 PM

Canadian Trade Balance is expected

Canadian Trade Balance will be published later today.

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May 4, 2020 10:21 PM
Board of currencies

Triple Whammy for USD/CAD Tomorrow

Three big events, three big chances for volatility in USD/CAD tomorrow.

April 8, 2020 12:28 PM
multiple currencies

BoC Slashes Rates to 0.25%

The market seems to have taken the rate cut as “catching up” to other central banks.

Bank notes of different currencies

Canada Ready with Loaded Double Barrels

With the ammo the Bank of Canada still has left, usd/cad can run up to 1.4682.

March 17, 2020 11:00 AM
Oil extraction

CAD/JPY: “Ground Zero” for Coronavirus and the Oil War

The value of the entire Canadian economy has fallen by more than 10% against Japan’s in a little over two weeks