Posts Tagged ‘USD/CAD’

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Traders Refrain from Long Bets on USD

On the final day in July, Wall Street session was unfolding in a sluggish manner despite the heavily loaded economic calendar. The report of crucial importance is Canada's GDP for May. According to the government data, Canada's economy expanded 0.5% in May. The increase was a strong rebound from a minor growth in April. Besides, the May reading came in beyond the median forecast. Moreover, the annual pace of economic growth jumped to 2.6% that proves healthy […]

Traders in Wait-and-See Mood Before Fed Meeting

Today, the Federal Open Market Committee begins its 2-day policy meeting. Policy decisions will be announced tomorrow. Meanwhile, traders shy away from opening long bets. The Russian ruble opened today with a minor decline. The Russian currency has lost support from the tax filing period, which has come to an end. In the early session, the USD/RUB pair jumped 20 pips to trade at 62.40. Yesterday, the ruble […]

USD Getting Ready to Recoup Losses of Last Week

As it had been expected, the beginning of the New York trades was rather active. Canada's monetary authorities took into account macroeconomic reports and hiked the key interest rate by 25 basis points to 1.5%. The Bank of Canada's officials expect the stable inflation rate of 2.5% and the annual earnings growth of 2.3%. The GDP forecast was also quite positive. The market reacted to the upbeat rhetoric with a surge in purchases of the Canadian currency. The USD/CAD […]

Greenback Falls amid US Labor Market Data

The US dollar weakened on Friday after the release of mixed macroeconomic statistics from the United States. The US Department of Labor reported that the US private employment increased by 213,000 people in June beating market expectations. In the preceding month, the US economy generated 244,000 new vacancies. Meanwhile, the unemployment rate rose from 3.8% last month. The average hourly earnings edged up by mere 0.2% after the previous advance of 0.3% Experts […]

Greenback Drops to Lows amid US Data

The Friday data prevented the greenback from resuming its growth. The US dollar index came off the mark of 95.40 level, at the end of the last trading week. At the opening of the New York trades, the index was heading towards 94.20 level. It was the statistics on the US personal spending expenditures under pressure. The official data showed that in May personal consumption expenditures edged up by 0.2%, down from the forecasts of experts and the previous […]

CAD Bulls Disappointed

At the end of the last trading week, the US dollar bulls tried to return to the market. Traders were encouraged by the preliminary data on the US Purchasing Managers' Index. The business activity in the US key economic sphere, the services sector, remained strong. The Services PMI corrected downwards to 56.5 from the May figure, which was the highest mark since April 2015. Analysts had projected a slightly bigger decline to 56.4. However, the US dollar index […]

Traders Are Cautious Ahead of G7 Summit

Though, oil prices were under pressure on Friday, the commodity currencies tried to gain some profits. For example, the Canadian currency remained strong against its American counterpart despite weak macroeconomic statistics from Canada. The USD/CAD pair retreated from the level of 1.3020 and approached 1.2950 mark by the start of the American trading session. Meanwhile, the official report showed that the number of employed people in Canada decreased by 7.5 thousand while experts […]

US Versus Canada: This Is Just the Beginning

At the end of the trading day on Wednesday, trade balance reports were released in the US and Canada, which relations have been quite tense lately. First, the market paid attention to strong data from the United States. The trade deficit shrank despite forecasts. The shortfall decreased to -46.2 billion dollars in April. Besides, the previous figure was revised upwards to -47.2 billion from $49 million. The deficit narrowed mainly because of higher exports […]

Oil Falling, But Commodity Currencies Resisting

Today, traders refrain from buying oil futures. As a result, crude is moving downwards. The Brent Crude Benchmark came off from $76 a barrel amid higher concerns over increased oil production by participants of the OPEC+ agreement. The official decision on the crude output freeze will be taken by the oil cartel on June 22nd in Vienna. The WTI Crude Benchmark is trading near $65.40 a barrel. Experts link the decline to the Friday […]

US Tariffs to Cause Trade War

Yesterday, traders kept an eye of both the US and Canadian dollars because the countries delivered significant statistical data. An economic report from Canada showed a slowdown in the country's slowdown in the country's economic growth in the first quarter. In March, the GDP rose by 0.3% after the previous increase of 0.4%. Still, the result beat market expectations as experts had anticipated a 0.2% advance. However, there is a sell-off of the Canadian dollar as the US, Europe, Canada, and Mexico […]