|Day's Range||0.748 - 0.752|
|52 Week Range||0.7284 - 0.7973|
It’s risk-on through the early part of the day, which sees the Dollar on the defensive once more, A light economic calendar put the FOMC in focus.
A sharp fall in oil prices undermined Loonie and helped USD regain positive momentum ahead of US macro data updates.
Optimism on trade and the Brexit delay supported risk appetite early on. Economic data out of the U.S will need to be good to reverse early losses.
USD Regains strength ahead of American market hours as investor sentiment turned risk averse following Sino-U.S. trade deal related headlines and declining crude oil price in broad market.
Positive Durable Goods Order data merely supported the plunging USD Index; Yen to remain silent amid risk-sentiments; AUD drifts near two-month low
Bullish oil prices underpin Loonie adding a high level of downward pressure on USD as investors await US macro data for short term profit opportunities.
It’s all eyes on Parliament today. Could members of Parliament actually vote in favor of a no-deal Brexit?
It’s a positive start to the day for the Pound. Markets have a worst-case scenario being a delay, while a soft could be the outcome if Theresa May wins.
Since the Euro carries the greatest weight in the dollar index, it gave the index the greatest boost. The BOE warned that Europe’s financial system faces “potential risks” to its stability arising from a no-deal Brexit. The U.S. Dollar strengthened against the Canadian Dollar after the Bank of Canada (BOC) left its overnight rate at 1.75 percent as expected, citing a slowdown in the global, as well as Canadian economies.
USDCAD pair is trading range bound with momentum in favor of USD as investor sentiment is risk averse and cautious ahead of macro data updates.
Trade data out of China weighed on risk sentiment early on, as focus shifts to the nonfarm payroll and wage growth figures out of the U.S.
The pair is currently in consolidative price action as bulls lack strength to move higher while investors await US NFP data for directional cues.
Trade data gives the Aussie Dollar an early boost as the market shift focus towards this afternoon’s ECB press conference.
USDCAD is awaiting directional cues having breached 3-week highs and macro data outcome from US & Canada today will likely facilitate further bullish price action.
GDP numbers out of Australia added to the doom and gloom early on. The Bank of Canada could sink the Loonie later today. Stats support a more dovish outlook.
A combination of factors weighs on Loonie providing USD with the support needed to stay near multi-week highs.
Gold is not slowing down. Now, bearish momentum is very strong and we have high chances to reach the 38,2% Fibonacci level on the 1277 USD/oz. What is happening here is the price creating an inverse head and shoulders pattern.
It’s risk off through the early part of the day. Economic data out of China suggests more doom and gloom as the National People’s Congress gets underway.
The pair is trading range bound as USD regained strength while positive oil prices underpin Loonie keeping a lid on any strong follow-through upside move.
It was a choppy week, with economic data, central bank chatter and geopolitics contributing to the moves in the week.
US macro data eyed for directional cues as the trading session comes to close for the week.
A busy economic calendar puts the EUR and the Dollar in the spotlight. GDP numbers out of Canada will also be watched closely.
Softer Canadian macro data and positive preliminary GDP data from the USA weighed down loonie while a late rebound in crude oil price prevented the dollar’s recovery rally.