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USD/CAD Reverses Ahead Of 200-Day SMA As Canada GDP Contracts
Article By:
David Song
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Tuesday, August 31, 2021 4:25 PM EDT
The IG Client Sentiment Report shows 74.00% of traders are net-long USD/CAD following the pullback from the monthly high (1.2949), with the ratio of traders long to short standing at 2.85 to 1.
Canada’s Economy Contracts In Q2
Article By:
Danielle Park, CFA
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Tuesday, August 31, 2021 4:00 PM EDT
Canada’s economy unexpectedly shrank 0.3% in the second quarter for an annualized contraction of 1.1% versus the consensus forecast of a 2.5% gain.
In this article: EWC
The Canadian Economy Stumbles Out Of The Gate
Article By:
Norman Mogil
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Tuesday, August 31, 2021 1:14 PM EDT
Today's release of the Canadian GDP numbers for the second quarter demonstrated that we are clearly not in a recovery mode, despite all the predictions of the bank economists.
In this article: EWC
USD/CAD Outlook Turns Neutral As Price Gains 1.26 After Poor CAD GDP
Article By:
Yohay Elam
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Tuesday, August 31, 2021 10:09 AM EDT
The USD/CAD outlook is neutral to bearish around 1.2600 as the pair found some traction after missing Canadian GDP data.
Two Major Surprises Today: China's PMI On The Downside And Eurozone CPI On The Upside
Article By:
Marc Chandler
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Tuesday, August 31, 2021 7:22 AM EDT
The dollar has been sold against nearly all the currencies today. Among the majors, the Antipodeans and Swedish krona lead the move. The euro rose briefly through $1.1830 in the European morning, its best level in a little more than three weeks.
USD/CAD Analysis: Price Breaks 1.26 As USD Weakens, Oil Recovers
Article By:
Yohay Elam
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Monday, August 30, 2021 10:54 AM EDT
The USD/CAD price analysis suggests some weakness as the US dollar sell-off continues on Monday, thanks to Powell’s speech at Jackson Hole.
USD/CAD Weekly Forecast: Confluence At 1.26 To Catch Bids Before NFP
Article By:
Yohay Elam
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Sunday, August 29, 2021 3:41 PM EDT
The weekly forecast for the USD/CAD pair is bearish as the US dollar is on the backfoot after Powell’s speech. The pair may find directional bias on Friday at the release of the US NFP report.
Powell Sent The Dollar Lower. Will The August Jobs Data Bring It Back?
Article By:
Marc Chandler
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Sunday, August 29, 2021 9:06 AM EDT
Federal Reserve Chairman Powell's long-anticipated speech at Jackson Hole provided fireworks but not quite what the market had expected. Confirmation of tapering was support to lift US rates and the dollar.
Key Events In Developed Markets Next Week - Saturday, Aug. 28
Article By:
ING Economics
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Saturday, August 28, 2021 4:00 AM EDT
Friday's payrolls number will have a strong bearing on whether the Federal Reserve announces tapering in September.
Business Loans Have Virtually Collapsed Hurting The Canadian Recovery Efforts
Article By:
Norman Mogil
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Friday, August 27, 2021 2:48 PM EDT
The Canadian banks chalked up significant profits last quarter, as the accountants decided to re-instate provisions for loan losses taken in prior quarters.
In this article: EWC
Powell On Tap
Article By:
Marc Chandler
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Friday, August 27, 2021 7:20 AM EDT
News of the deadly strike at the Kabul airport quashed risk appetites, sending equities lower and the dollar higher. 10-year Treasury yields were little changed on the day but settled off almost five basis points from the intraday high.
USD/CAD Price Dominated By Bears At 1.26 Ahead Of US Prelim GDP
Article By:
Yohay Elam
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Thursday, August 26, 2021 9:04 AM EDT
The USD/CAD price is trading in the red at the time of writing. It has registered an impressive sell-off, and now it hovers above a major support zone. It remains to see how it will react after the US data publication.
Market Awaits Fresh Incentives
Article By:
Marc Chandler
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Wednesday, August 25, 2021 6:58 AM EDT
Neither the chaos and tragedy unfolding in Afghanistan nor the US refusal to acquiesce to the allies' request to extend the August 31, deadline seems to have much impact on the global capital markets.