|Day's Range||0.749 - 0.751|
|52 Week Range||0.7284 - 0.8160|
With trade data out of Japan reflecting the slowdown in Asia, Capitol Hill, the Oval Office and Parliament will be in focus through the day.
Ever since the EURUSD declined from 1.1570, it’s moves can be depicted by a short-term descending trend-line, which in-turn presently drags the quote towards 1.1325 support-line. Should prices refrain to respect the 1.1325 rest-point, the 1.1300 and the 1.1265-60 may lure the sellers ahead of pushing them to aim for recent low around 1.1215. If at all the pair manage to cross the 1.1370 TL barrier, the 1.1420 and the 1.1450 could entertain counter-trend traders prior to challenging them with 1.1490-1.1500 resistance-zone. Though, pair’s successful break of 1. ...
US Dollar trades steady above 1.33 handle on weak crude oil price action in the broad market and the price action is expected to continue ahead of Canadian macro data update which is expected to provide directional cues for near term price action.
Rangebound price action to continue during American market hours amid thin trading volume as US market is closed for the day.
USDCAD on consolidative action post early declines as both currencies lack momentum to sustain a positive rally.
Having reversed from 1.3325-15 resistance, the USDCAD is declining towards 1.3210 but the ten-week old ascending support-line, at 1.3185, could confine the pair’s downside then after. Should prices continue trading southwards past-1.3185, the 1.3125 and the 1.3080 may offer intermediate halts during the pair’s slip to 1.3055. If at all the pair manage to surpass the 1.3325 upside barrier, the 1.3380 & the 1.3420 can please buyers prior to challenging them with 1.3440-45 resistance-region. Given the pair’s ability to cross the 1.3445 mark, the 1.3500 & the 1. ...
Geo-political risk will remain the key driver ahead of the weekend, with Brexit and the possibility of a reduction in tariffs on Chinese goods on the table.
USDCAD breached 1.33 handle over weak crude oil price and broad based risk asset sell-off but dollar failed to make solid bull run amid lack of fundamental support.
With Theresa May and the Tories surviving the day, focus will shift to the EU and whether the British PM can find better terms.
Pickup in the US bond yields helped revive USD demand as investors await US EIA Crude oil inventory data.
With the Brexit deal sunk and Theresa May needing to head back to Brussels, there’s just a vote of no confidence to survive later today…
Both sides of pair vie for control of momentum as news driven momentum resulted in neither pair dominating rally.
It’s “risk on” in the early hours, with the main event of the day being Brexit. Has Theresa May done enough and will it sink the Pound?
Chinese exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world's second largest economy in 2019 and deteriorating global demand. "If Chinese growth is slowing as fast as it appears then the path is lower for the Canadian dollar," said Adam Button, chief currency analyst at ForexLive. At 3:41 p.m. EST (2041 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3273 to the greenback, or 75.34 U.S. cents.
Despite broad based weakness surround USD, weaker crude oil price and broad based risk averse sentiment boosts the currency pair for fourth consecutive trading session.
USD sell off on comments from Powell & Crude Oil price rally supported by production cut / Sino-U.S trade talk optimism boosts Loonie.
Retail sales figures out of Australia provide the Aussie Dollar with a bounce as focus shifts to the UK, today’s stats and Brexit chatter.
US Greenback failed to make best of recovery move in Asian market hours as crude oil price continues to support Loonie bulls
During the Wednesday trading session, the US markets positions were actively restoring, what not to say about the national currency due to news around the Fed.
Bullish run in oil prices supports Loonie on its positive price action as investors await BOC MPC update & Fed Meeting minutes.
Bank of Canada not expected to raise interest rates — could cut in 2019 as Canadian economy heads for slowdown, so variable rate mortgage holder come out okay.
Unless successfully clearing the 1.1490-1.1500 resistance-region, EURUSD is less likely to remain strong for long, which in-turn highlights the importance of 1.1400 & 1.1360 rest-points. Though, an upward slanting trend-line, at 1.1300, might confine the pair’s declines past-1.1360, if not then 1.1260 & 1.1215 may regain sellers’ attention. Alternatively, breach of 1.1500 enables the pair to aim for the 1.1550 and the 1.1580 numbers to north ahead of confronting the 1.1610-20 upside barrier. Moreover, quote’s sustained up-moves beyond 1.1620 could avail 1. ...
USD rebound in European hours helped pair recover from intra-day lows but pair moves range bound near 4-week lows.
On June 23, 2016, the UK decided to leave the European Union. This has made a lot of people very angry and been widely regarded as a bad move.
Prevalent USD selling bias keeps exerting downward pressure on comments from Fed Chair Powell, while increased risk appetite & crude oil price also support Loonie’s gains