Posts Tagged ‘USD/CAD’

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Oil Price vs Canadian Dollar Graph | The Correlation Between Oil & CAD

In this video, you will learn about the correlation between the Canadian dollar, and the Crude Oil. Canada is a major exporter of Crude Oil. It has increased its capacity in production and is supplying about 6 million barrels per day. It has 173 billion barrels in its oil reserves. However, Canada is not a member of OPEC. About 99% of its exports goes to US. Hence, Canada's economy […]

How Much Will USD Cost Next Week? (EUR, USD, CAD)

Ahead of the Christmas holidays, the EUR/USD pair is showing a bearish sentiment. The EUR/USD pair is trading at 1.14. However, the release of macroeconomic data could decide the strength of the greenback. The US dollar index is trading at 94.60. The GDP data released fell short of expectations. The USD/CAD pair is trading at 1.3550. The GDP report released from Canada indicates that the economy is in good condition. However, the retail sales data released […]

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 […]