Browsing Tag

Canadian Dollar (CAD)

US, China, and Shrinking Trade

Daniel John Grady Aug 7, 2023 86 0

Economists are forecasting some concerning data to be reported tomorrow. But, that doesn't necessarily mean the market will react immediately, and it could go a little under the radar. With so much attention on central banks and when they…
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Fundamental Analysis

What Forex Traders Need To Look Out For This Earnings Season

Daniel John Grady Jul 14, 2023 83 0

Corporate earnings season primarily affects the stock market. But how well businesses are doing is a basic component of the economy. And many of the companies reporting are so big that they can provide directionality for broader markets. If…
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Fundamental Analysis

Canada Jobs Numbers: Will the BOC Restart the Pause?

Daniel John Grady Jul 5, 2023 564 0

The jobs numbers from Canada are typically overshadowed by the NFP data for the US that comes out at the same time. But, given the context of what's been happening in Canada lately, the employment figures could shake up expectations for the…
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Fundamental Analysis

The Loonie Could Bring More Surprises

Daniel John Grady Jun 23, 2023 1,106 0

Earlier this week, the Canadian dollar hit a 9-month high, as the USDCAD continued to drift lower. This is remarkable additionally because in the same period, the greenback has also been getting stronger. The Loonie has had its own special…
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Technical Analysis

Intraday Analysis – CAD recoups losses

Jing Ren Jun 8, 2023 76 0

USDCAD grinds major support The Canadian dollar soared as the BoC resumed its tightening campaign with another 25-basis point rate hike. A drop below 1.3500 has broken the pair’s upward momentum and prompted short-term bulls to bail…
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Fundamental Analysis

BOC Expected to Hold Rates Steady

Daniel John Grady Apr 10, 2023 80 0

So far, the central banks of commodity currencies have been going in opposite directions. On the one side was the RBA, which kept rates steady despite high inflation. The Australian market was seen as more vulnerable to disruption from the…
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Fundamental Analysis

Chinese PMIs and Potential Commodity Currency Recovery

Daniel John Grady Jan 27, 2023 200 0

With lingering questions on how much of an impact China's reopening will have on the global economy, there's likely to be increased focus on leading economic indicators from the country. Foremost among them are PMIs, since they are the…
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Technical Analysis

Intraday Market Analysis 13.12.2022

Jing Ren Dec 13, 2022 284 0

USDCAD tests key resistance The Canadian dollar struggles over plunging oil prices amid demand concerns. On the daily chart, the outlook remains positive and crossing moving averages may suggest a potential acceleration to the upside.…
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Technical Analysis

Intraday Market Analysis 27.10.2022

Jing Ren Oct 27, 2022 451 0

USDCAD tests key support The Canadian dollar softened after the BoC surprised the market with a smaller-than-expected rate hike. On the daily chart, the rally came to a halt in the supply zone from May 2020 under 1.4000. The greenback…
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Technical Analysis

USDCAD Cycle Triple Zigzag To End Near 1.372

Roman Onegin Sep 23, 2022 551 0

The current USDCAD timeframe shows the internal structure of a large correction pattern. This most likely takes the form of a cycle triple zigzag w-x-y-x-z. The final wave z takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, where the…
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