This weekend has been a very choppy week for the USDCAD, the CAD has been bearing the worst against other major currencies. The US fundamental remaining intact with strength supporting the higher trading range for the USD, as yesterday’s Jobless claim under expectations at 289K vs. 295 forecasted, the FOMC undertone will move towards a more hawkish stances. Oil taking up center stage lately having make up at like 17% of Canadian exports, have greatly affected the CA dollar, the USDCAD trading pair with a firm lower support at 1.1436 and upper resistance the recent high of 1.1669. We could likely experiences corrective pull back, on weaker US fundamentally and the market closures next week with Christmas and New Year just around the corner. Canadian ending this last full week of trading with the Canadian CPI figures, market forecasting a slight retractions to 2.2% vs previous reading at 2.4% YoY, however holding above 2% target of 8 month [...]
This morning the USDCAD pair off to a lower footing but within current trading range of 1.1600 support and upper resistances at 1.1700, the market setting up for this afternoon’s press conference, statements from Fed Chair Yellen, her carful wording shape market investors and traders to concluded expectations of the economy and rate hikes issues. The “considerable time” phrase, perhaps left there to avoid any fierce market swings in this case it’s might be better to be late and sure than false break out. Traders and market participants anticipating new outlook of growth and improvement of unemployment forecast which will maintain market supports of the Greenback, and we could see another test towards 1.1700 easily. All this excitement for a clear direction eclipsing the US CPI figures which could also trigger market volatilities expecting a slight retraction for YoY November at 1.4% vs. previous at 1.7%. It has only been mid-week and we are fill [...]
This morning the US dollar trading slightly lower against other major counterparts, after yesterday’s robust performance after the US industrial Productions increased to strongest levels since May of 2010 at 1.3% vs. 0.7% combined with Manufacturing Productions increased better than market expectations to 1.1% vs. 0.5%, reporting the largest increase of 9 months during November, but was counter be negative US NAHB Housing market index decline to 57 vs. 59 expected for December. The Euro off to a stronger footing on the back of reports of more positive German ZEW economic sentiments improving for the a second month for December posting 34.9 vs. 20.0 expected, subsiding fears of economic uncertainly, more support for the Euro dollar as the Euro Zone Markit Manufacturing and PMI data all posted in the green at 50.8 vs. 50.5 and 51.9 vs. 51.5. Over all upbeat news for the European regions, meanwhile the Pound on higher [...]
This morning the Greenback is still maintaining stronger bouts against other major currencies, ahead of the release of US Industrial, Manufacturing figures of November and NAHB Housing Market Index all with positive market forecast. The JPY also on stronger grounds as Prime Minister Shinzo Abe won the weekends elections by a large margin. We could expect to see the YEN give up some gains after the election highs settle downs and same old monetary policies continue. Meanwhile in Europe the Fitch slash Frances credit rating from AA+ to AA, stating there was issues with the nation’s budget deficit, however with release of Manufacturing, PMI and German ZEW Survey figures from the European regions tomorrow, investor will be ready for any other clues of the Euro-Zone economic re-tractions. Great Britain Pound somewhat subdue to the USD as the markets gear up for tomorrow’s release of GBP CPI and PPI, the market will be keeping an eye open [...]
This morning the USD remaining on stronger footing across the board notably against our CAD, yesterday upbeat Retail Sales caused a mass USD buying frenzy across the board especially against the YEN, as the pressure mounts with uncertainty with election this weekend, and if we see Abe elected again we will likely see the YEN erode and will likely maintain this tone for 2015. In a few hours we have release of the US Michigan Consumer Confidences Index expecting a positive reading at 89.5 vs. previous 88.8, yesterday’s bad weather for us Torontonians could have been a blessing for those USD sellers who didn’t make it in, the USDCAD climbs even higher with no other important data release today, we ending this week off strong, and the idea of the USDCAD reaching 1.1800 as some analyst predicted in the begin of the year is not so far fetch now. Other news out this morning we finally have oil aka black gold under the $60 a barrel dipping twice to $58.80, no love [...]
Why Use Goldium FX?
Honest and Trustworthy [Read More]
Vast Experience [Read More]
Excellent Prices [Read More]
Quick Solutions [Read More]
We have a very friendly team to help you. Our experienced staff will help you make well-informed decisions on your currency exchange transactions. We always act keeping in mind your best interests. You will therefore certainly profit from each transaction. We cover all aspects of foreign currency exchange services.