Posts Tagged ‘USD/CAD’

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Early North American Trade — October 24th 2018: USD/CAD

The US dollar is rallying at the moment. The US dollar index is trading at 96.40. As a rate hike looks likely from the Fed in the near future, the greenback is supported by the investors. The macroeconomic data released from the US looks positive. The PMI data released today also looks positive. There was a policy meeting held by the Bank of Canada. A rate hike was favored by the central bank due to the inflation. This has contributed […]

USD Bulls Holding Upper Hand

The US dollar is now developing a bullish sentiment. The US dollar index is trading at 95.00. The macroeconomic data released brought about a positive sentiment for the US dollar. The USD/CAD is trading at 1.3020. The comments from Stephen Poloz, the Governor of Bank of Canada, boosted the demand for the Canadian dollar. The central bank concluded that an interest rate hike is necessary when the economy needs it. There are two more factors […]

Donald Trump Fails to Cut US Trade Deficit

The US dollar lost momentum after the publication of the trade balance data. It turned out that Trump's attempts to cut the trade deficit by means of grand scale trade wars were in vain. The latest trade balance reports showed that the shortfall widened to 50 billion 82 million dollars. During the American session, the US dollar index has continued trading sideways, retreating from the level of 95.60. The comments of Saint Louis […]

US Businesses Concerned Over Trump’s Ambitions

The American currency strengthened ahead of the US trading session on Friday. The US dollar index approached the level of 94.90, adding over 30 pips. Earlier, news came that the United States may leave the World Trade Organization as Donald Trump is not satisfied with its work. However, the US Economic Development Administration noted that Trump's words are just bold statements, as the American business is not ready […]

USDX Remains Under Pressure Despite Upbeat Statistics

In the North American pre-market, the US dollar remains under pressure. Its index is trading lower at about 94.40. Traders are in no hurry to open long bets on the US dollar even despite upbeat data on consumer confidence from the Conference Board. The report reads that a measure of economic confidence among American households surged to 133.4 in August from 127.9 in July. The August reading confounded expectations for a decline. Despite unexpected […]

US — Turkey Conflict in Vicious Circle

The US dollar index came under pressure in the early Wall Street trade. The index is struggling to escape from a trading range in which it has been trapped for the latest two sessions. The index sank below 96.40. Dollar bulls are exercising caution on the back of new threats from the US to Turkey. US Treasury Secretary Steven Mnuchin stated that Turkey could face additional US sanctions if President […]

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 […]