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USD/CAD bulls face a big challenge around 4-month highs. USD/CAD is trading not too far from Wednesday’s new four-month high of 1.3550, following the rebound on the long-term ascending trend line in the daily timeframe. The momentum indicators suggest that there is still some advance for the pair. The RSI indicator is
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The Bank of Canada (BoC) is widely expected to keep its policy unchanged on Wednesday at 14:00 GMT. Recent economic data and some remarks by Governor Poloz argue for a slightly more confident tone overall, which may lift the loonie. That said, simmering trade tensions and other risks will likely
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As trade tensions continue to simmer and there’s no end in sight to the Brexit turmoil, risk sentiment will probably remain the biggest driver for forex markets in the coming week. But there will still be several market-moving events for investors to keep a watch on. PCE inflation numbers from
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USD/CAD was trading not too far from yesterday’s one-week high of 1.3501 on Friday, having pulled back slightly. But momentum indicators suggest there is still some upside for the pair to advance again. The near-term bias is looking neutral-to-bullish as the RSI is flatlining above the 50-neutral level, while the stochastics are pointing north and
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USD/CAD neutral in the short-term, within a symmetrical triangle. USD/CAD has been range-bound for another week within the 1.3520-1.3375 area, while candles keep closing above the lower line of the symmetrical triangle. The sideways move in the RSI and the flattening Ichimoku indicators (Tenkan-Sen, Kijun-Sen) signal that the pair may extend its neutral performance in
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With market anxiety heightened about the direction of the US-China trade talks, economic data might struggle to distract traders next week given the shortage of top-tier releases. Still, there will be several major indicators that investors should keep an eye on, including Australian employment and wage figures, Chinese industrial output
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USD/CAD rebounds on the 20-day SMA but indicators look weak. USD/CAD rebounded on the 20-day simple moving average (SMA) several times in the preceding sessions, but it still remains below the four-month high of 1.3520. The risk is currently viewed as bullish-to-neutral as on the one hand, the RSI seems to be changing direction southward to
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The Canadian dollar is trading near its 2019 lows against the US dollar as investors await the employment report for April on Friday at 1230 GMT. Stronger figures in employment may provide some more relief to the domestic currency, sending USD/CAD lower. The consensus is for the unemployment rate to hold
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Central bank policy meetings in Australia and New Zealand will be the main focus next week with investors anticipating a further dovish tilt. Out of all the central banks that have turned dovish this year, the Reserve Bank of New Zealand is the most likely to cut rates and analysts
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USD/CAD rebounds to keep the uptrend; bias positive-to-neutral. USD/CAD bounced on the 20-day simple moving average (SMA) on Wednesday, switching its weekly status from negative to positive, a move that also kept the three-month trend to the upside. The risk is currently viewed as bullish-to-neutral as on the one hand, the RSI seems to be
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