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Technical Tuesday: S&P, gold, USD/CAD and AUD/NZD

In this week’s edition, we are getting technical on S&P 500, gold, USD/CAD and AUD/NZD

Currency prices

Is USD/CAD ready to pull back?

With significant resistance above, the chance of stronger than expected inflation data, and the possibility of a “less hawkish than expected” Fed, it Is possible that the pair will move lower.

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September 19, 2022 03:15 PM

Canadian Employment data disappoints. Is the BOC to blame?

The Canadian Employment Change for August was -39,700 bringing the 3-month total to -113,500.

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September 9, 2022 11:27 AM

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BOC hikes rates by 75bps, more to come!

How much higher will the BOC raise rates? It will depend on the effects of tighter monetary policy as it works its way through the economy.

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September 7, 2022 11:36 AM
Currency prices

Bank of Canada Preview: Will it be 75bps or 100bps?

Will the Bank of Canada raise rates by 75bps? Most likely. With the economic data worse since the last meeting, BOC members may not wish to be as aggressive.

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September 6, 2022 04:00 PM
Currency prices

Canadian GDP weaker than expected. USD/CAD following oil on shorter timeframes

Will the GDP data matter come the BOC’s interest rate decision meeting next week? It may depend on whether USD/CAD continues to follow the price of oil!

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August 31, 2022 03:23 PM

Canadian July CPI weaker than previous month. Peak inflation for Canada?

The July Canadian CPI print came in weaker than June’s print and USD/CAD sold off. Traders may have been expecting an even weaker print, similar to that of the US CPI.

August 16, 2022 10:57 AM

Canadian jobs report expected to be better than June’s negative print; USD/CAD

If the Employment Change is better than expected, this will help give the BOC confidence to hike again when it meets in September.

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August 4, 2022 11:52 AM

Canada CPI weaker than expected – Peak inflation?

Although the June CPI reading for Canada was higher than the May reading, the headline was much lower than expected.

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July 20, 2022 10:28 AM
Yen, Euros and dollar currency bills and notes

PPI follows CPI with stronger than expected 11.3% headline print

As the DXY continues to make new daily highs, it appears that inflation is still at the forefront of traders’ minds, with worries of a global slowdown right behind it!

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July 14, 2022 12:13 PM

Bank of Canada recap: BOC surprises traders with a 100bps hike, USD/CAD falls below 1.30

The BOC’s relatively hawkish stance could keep USD/CAD capped below 1.3080.

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July 13, 2022 10:33 AM
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Two trades to watch: GBP/USD, USD/CAD

GBP/USD rises after UK GDP, US CPI next, USD/CAD awaits the BoC rate decision.

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July 13, 2022 03:17 AM
"Newspaper snippet of jobs board"

Two trades to watch: Gold, USD/CAD

Gold remain below 1750 ahead of the NFP. USDCAD rises above 1.30 with US & Canadian jobs data in focus.

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July 8, 2022 03:55 AM
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Two trades to watch: GBP/USD, USD/CAD

GBP/USD rises despite strike action. USD/CAD falls ahead of retail sales, Fed Powell.

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June 21, 2022 03:42 AM

US Retail Sales: Is inflation affecting the US consumer?

The main culprit for the lower print was a decrease in new car and trucks.

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June 15, 2022 11:09 AM

Bank of Canada hikes rates 50bps. Will act more forcefully if needed!

Although the Bank of Canada raised rates by only 50bps today, the statement was clearly hawkish.

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June 1, 2022 11:27 AM

Canadian inflation remains excessively high. What does it mean for USD/CAD?

The Canadian CPI print confirmed what the markets had already expected: that inflation continues to rise and will force the BOC to raise rates further.

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May 18, 2022 10:50 AM

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Two trades to watch: EUR/USD, USD/CAD

EURUSD rises post German PPI, ahead of the French election debate. USD/CAD falls ahead of Canadian inflation data.

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April 20, 2022 04:03 AM

The Bank of Canada hikes 50bps, as expected; USD/CAD initially lower

The key rate now sits at 1%, its highest level since the pandemic began in March 2020.

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April 13, 2022 11:32 AM
Close-up of market chart

Two trades to watch: GBP/USD, USD/CAD

GBPUSD falls below 1.30 after UK inflation jumps to 7.5%. USDCAD falls ahead of BoC rate decision.

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April 13, 2022 03:46 AM

BOC Preview: How much will the BOC hike?

Most are expected a hike of 50bps; however, some are hoping that it may hike as much as 75bps!

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April 11, 2022 03:03 PM

Canadian jobs data in-line; Full time jobs strong

What makes this number strong is that the amount of full-time jobs was +92,700 vs a loss of 29,300 part-time jobs.

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April 8, 2022 10:27 AM

USD/CAD in focus for Canadian employment

USD/CAD has put in a strong rally these past two days, yet stalled at a key zone of resistance ahead of Canada's employment report set for today.