usdcad meaning

EURUSD recovery from the May low of 1.0360/50 leaves a potential double bottom buy signal although on Friday we made a high for the day at 1.0545/55. Above here today retests Thursday's high at 1.0660/62 then last week's high at 1.0640/42.

Minor support at 1.0460/50. Below 1.0330 risks a retest of the double bottom low at 1.0360/50. Longs need stops below 1.0325.

USDCAD clearly at the upper end of the 1 year range as we retest the May high at 1.3060/80. This will be key to direction for this week. Probably worth trying a short with stop above 1.3100. A break higher however targets 1.3160/70 & 1.3240/60.

Shorts at 1.3060/80 target 1.3030/20 & 1.3000/1.2990. Expected good support at 1.2955/35 for today.


Dax looks likely we can hold important longer term support at 13250/150 for a bounce to 13360/380 then 13500 & resistance at 13600/650. We have a gap to fill at 13730/750. A break above here is anther buy signal.

A break below 12950 is a very important medium term sell signal initi

UK Inflation Influences GBPUSD Price Line, USDCAD Shows Canadian Dollar Strength, Crude Oil Price (USOIL) Has Been Rising Gradually

UK Inflation Influences GBPUSD Price Line, USDCAD Shows Canadian Dollar Strength, Crude Oil Price (USOIL) Has Been Rising Gradually

Jing Ren Jing Ren 14.04.2022 08:55
USDCAD tumbles towards daily support The Canadian dollar surged after the BOC’s aggressive rate hike of 50bp. The pair’s recovery came under pressure at 1.2670. A bearish RSI divergence shows a loss of momentum in the rally and the ensuing break below 1.2580 acts as confirmation of underlying weakness. A combination of stop losses and momentum selling could further depress the greenback. An oversold RSI may attract some bargain hunters and 1.2480 is a major level to keep the rebound intact. In fact, its breach could cause extended losses beyond 1.2400. Related article: ECB Interest Rate Decision Is Coming! European Indices (DAX, CAC40) To Plunge Or Rise? What About Forex Pairs? GBPUSD breaks resistance The pound recoups losses as the UK’s March CPI beats market expectations. Overall sentiment ticked down after the pair dropped below the psychological level of 1.3000. However, a swift bounce above 1.3080 is an encouraging sign for the bulls as it forced the bears to cover their positions. 1.3180 is the next resistance and a bullish breakout could bring the sterling back to 1.3300 and open the door to a reversal. The RSI’s overbought condition may lead to a pullback. And 1.2990 is the immediate support should this happen. USOIL grinds resistance WTI bounces as major trading houses plan to trim purchases of Russian crude. The price is slowly recovering from the daily demand zone around 94.00. This could be a consolidation phase after the recent wild ride. The RSI’s double-dip in the oversold territory triggered a buy-the-dips behavior. A break above 105.00 could cause a broader recovery to 115.00. The RSI’s swing into overextension may limit the impetus. The psychological level of 100.00 is a fresh support and 94.00 is a critical floor to keep the price afloat.
British Pound To Canadian Dollar (GBP/CAD) Bounces To Ease Severely Oversold Conditions As Predicted, EUR/USD again holds important 5 year trend line support at 1.0850/20

British Pound To Canadian Dollar (GBP/CAD) Bounces To Ease Severely Oversold Conditions As Predicted, EUR/USD again holds important 5 year trend line support at 1.0850/20

Jason Sen Jason Sen 14.04.2022 11:11
EURUSD again holds important 5 year trend line support at 1.0850/20. A low for the day exactly here & at the March low leaves a potential double bottom medium term buy signal now as I suggested yesterday. Longs need stops below 1.0790. A break lower meets 37 YEAR TREND LINE SUPPORT AT 1.0760/20. Longs need stops below 1.0670. Longs at 1.0850/20 target 1.0900 then 1.0930/40 (a high for the day exactly here on Monday). Further gains are possible to minor resistance at 1.0960/80. USDCAD our shorts at 1.2650/70 target 1.2610/1.2590 & 1.2525/05 today. If we continue lower look for 1.2480/70. We have another buying opportunity at 1.2440/10. Longs need stops below 1.2370. A break lower is an important medium term sell signal. Obviously strong resistance at 1.2650/70. Shorts need stops above 1.2690. A break higher is a medium term buy signal. GBPCAD bounces to ease severely oversold conditions as predicted. Strong resistance at 1.6460/80 certainly doing it's job so far this week. However if we continue higher expect very strong resistance at 1.6560/80. Minor support at 1.6410/00. Further losses can retest 1.6315/1.6295. Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
If You Consider Investing In Gold, Watch Today's Data Closely. Important Releases Today Are US ISM Manufacturing PMI, Eurozone Inflation And HICP

(USOIL) Crude Oil Price Crisis!? Fed To Boost (USD) US Dollar? UK Inflation Rate Surprised Many This Week, What About The Following One? Economic Calendar by FXMAG.COM

Mikołaj Marcinowski Mikołaj Marcinowski 16.04.2022 17:59
Today, tomorrow and on Monday many countries around the world celebrate Easter. Friday was a day free for many stock markets and banks too. As we wrote yesterday forex market was live so we may say it had some time to stock (sic!) up. The following week is going bring many news and next proves of hawkish rhetoric of Fed, ECB and BoE. Monday – Going East – Chinese GDP On Monday many, many countries – Germany, Italy Spain, Australia and more has a day free. Only in China, very early in the morning GDP and Industrial Production are printed. Previously Gross Domestic Product amounted to 4%. Another indicator released at 3 a.m. – Industrial Production hit 7.5% previously. Related article: Deutsche Bank Shook DAX! French Election, Inflation And ECB Are Factors Which Shaped DAX (GER 40), CAC40, FTSE 100 And IBEX35 - Top Gainers, Top Losers Tuesday – RBA Meeting Minutes – NZD/USD To Plunge Again!? It’s good to have a look at RBA Meeting Minutes in the morning. The document will be released at 2:30 a.m. and may let us prepare NZD rate prediction. At 1:30 p.m. we focus on the data coming from the USA. Building Permits release previously amounted to 1.865M. This indicator let us diagnose the real estate market in the United States. Wednesday - Crude Oil Price To Skyrocket!? CAD/USD And NZD/USD May Fluctuate! First release of the day is Chinese PBoC Loan Prime Rate which takes place at 2:15 a.m. Previously this indicator amounted to 3.7%. At 1:30 p.m. you better follow CAD/USD and other pairs with Canadian dollar as Core CPI may shake the rate. Indicator amounted to 0.8% previous time. Later in the afternoon investors should follow the release of Existing Home Sales (6.02M) and, what’s most important – Crude Oil Inventories. ON April 13th Crude Oil Inventories hit 9.382M! Very late in the afternoon we focus on New Zealand where CPI (Q1) is released. Let’s follow NZD forex pairs then. Thursday – Huge Gain Of US Dollar Index (DXY) Amid Hawkish Fed!? Follow Euro To US Dollar (EUR/USD) and GBP/USD Fluctuations! What Will BoE And ECB Do? Naturally next Fed decision is made in May, but before it happens we all stay updated with the current Fed rhetoric expressed by i.a. Jerome Powell who speaks at 6 p.m. on Thursday. What’s more it’s going to be a really, really market moving day as alongside Powell, BoE’s Bailey and ECB’s Lagarde speaks as well! Additionally, at 10 a.m. the EU CPI is released. After the recent interest rate decision ECB’s rhetoric is definitely worth a follow! Article on Crypto: Hot Topic - NEAR Protocol! Terra (LUNA) has been seeing a consistent downward price trend, DAI Should Stay Close To $1 Friday – GBP/USD To Plunge!? UK Manufacturing PMI Release And BoE’s Lagarde Speaks Again The following week ends with some important releases. We begin with UK Retail sales, Manufacturing PMI, Services PMI and German Manufacturing PMI. In the afternoon Canadian Core Retail Sales (2.5%) is released. The day ends with ECB’s and BoE’s representatives’ testimonies. Source/Data: Investing.com Economic Calendar
US Close – ISM hits 2-year low, Au Revoir 3.00% on recession worries, Choppy waters for Stocks, Commodity Markets tired of softening, Bitcoin tests $18K waters

Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events

Rebecca Duthie Rebecca Duthie 19.04.2022 09:50
Summary: Analysis of; EUR/USD, EUR/GBP, USD/CAD, USD/JPY. Japanese Yen weakens as Bank of Japan fights against increasing Treasury Yields. USD Strengthening as the Fed remains hawkish. The EUR and GBP future prices awaiting the IMF and World Bank Events later this week. EUR/USD, Strengthening USD putting pressure on the EUR. EUR/USD market sentiment is currently reflected as bearish for this currency pair as the graph shows the declining price over the past week. In the past weeks, the Euro has been underperforming as a result of the Russia-Ukraine war causing fears of Eurozone stagflation. The ECB is stuck at the moment with increasing inflation and slow growth, the likelihood of the ECB’s capacity to match the aggressiveness of the Fed is low. Perhaps toward the end of the week we will see the EURO bounce against the USD inlight of the talks at the IMF/World bank events. EUR/USD Price Chart Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun   The Value EUR/GBP Awaits Changes in Light of Major Appointments This Week The Euro seems to be strengthening against the GBP after it depreciated late last week. Since the market opened this morning, the investor sentiment for this currency pair has become bullish. There is suspicion that the sharp fall in the value of the EUR/GBP last Thursday may have come out of China in an attempt to stop any more strengthening in the Renminbi. The future value of this currency pair is important to watch in the coming days, with major appointments on talks about finances coming up, especially both the ECB and BoE governors talks at the IMF/World Bank events later this week. EUR/GBP Price Chart USD/CAD Currency Pair holding Stable amidst Current Market conditions The USD/CAD currency pair price is remaining relatively stable given the current risk-averse market sentiment. The USD/CAD currency pair is considered to be volatile, both the CAD and USD reacts quickly to the release of economic data and current market conditions. Despite investors being risk averse, the market sentiment seems to be bullish for the USD inlight of the Fed's hawkish attitude, growing concerns on inflation increases and US rising benchmark yields all leading to a strengthening USD. USD strengthening against the Japanese Yen The USD strengthened against the Yen this past week as a result of the increasing US Treasury yields and the expectation of positive economic data. The price of this currency pair reached the highest since March 2002. The Bank of Japan has been working hard to keep the Treasury yield below 0.25%, the opposite approach the Fed has taken in the fight against inflation, causing the yen to weaken. The Japanese finance minister raises concerns on the damaging effect the weakening yen could have on the weakening economy For you: Forex Rates: British Pound (GBP) Strengthening? Weak (EUR) Euro? GBP, NZD And AUD Supported By Monetary Policy?   USD/JPY Price Chart Sources: Finance.yahoo.com, Teletrade.eu.
Will GBP Stay Unchanged? How Will Euro (EUR) To US Dollar (EUR/USD) React To CPI Releases!?

Powerful (USD), Really Strong (CAD) - US Dollar To Canadian Dollar, Solid NZD Performance, UKOIL To Stabilize?

Jing Ren Jing Ren 21.04.2022 07:40
Key takeaways: The Canadian dollar soared after red hot inflation readings in March The New Zealand dollar inched lower after the Q1 CPI fell short of expectations Brent crude finds support from a surprise drawdown in inventories USDCAD breaks support The Canadian dollar soared after red hot inflation readings in March. The greenback’s struggle to reclaim 1.2670 suggests a lack of momentum from the buy-side. A fall below 1.2540 triggered a new round of liquidation and further confirmed the bearish RSI divergence. 1.2480 is the next support and an oversold RSI may attract some bargain hunters. However, there is an expectation of stiff selling pressure around 1.2645 as the mood sours. A deeper correction could send the price below the critical floor at 1.2400. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events NZDUSD tests resistance The New Zealand dollar inched lower after the Q1 CPI fell short of expectations. A break below the daily support of 0.6730 revealed a lack of buying interest so far. Sentiment turned cautious after the daily chart exhibited a bearish MA cross. On the hourly chart, the RSI’s oversold situation led to some profit-taking off 0.6720. A bullish divergence suggests a slowdown in the current sell-off. Nonetheless, the bulls need to lift offers in the supply zone between 0.6820 and 0.6880 before a reversal could happen. Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM UKOIL bounces off support Brent crude finds support from a surprise drawdown in inventories. On the daily chart, the price is taking a breather in a flag-shaped pattern after a parabolic ascent. The uptrend can remain intact as long as the support of 98.00 stays still. A tentative break above 114.50 has prompted short-term sellers to cover. The latest pullback saw bids at the 61.8% (104.20) Fibonacci retracement level while the RSI recovers to the neutrality area. A break above 117.80 could extend the rally towards 127.00.
(EUR/USD) - An Eye For An Eye And A Tooth For A Tooth, US Dollar To Canadian Dollar - CAD Has Weakened, DAX (GER 40) Has Slid | Orbex

(EUR/USD) - An Eye For An Eye And A Tooth For A Tooth, US Dollar To Canadian Dollar - CAD Has Weakened, DAX (GER 40) Has Slid | Orbex

Jing Ren Jing Ren 09.05.2022 13:00
EURUSD consolidates The US dollar climbed after better-than-expected NFP in April. The euro is licking its wounds after it broke March 2020’s lows near 1.0640. The price is seeking support above March 2017’s lows (1.0500). The previous rebound came to a halt at the support-turned-resistance at 1.0640. A bullish breakout could drive the bears into giving up their chips, reducing the pressure and potentially paving the way for a rally towards 1.0810. A fall below the current consolidation range (1.0480) would send the single currency to 1.0400. USDCAD bounces higher The Canadian dollar softens as April’s labour market performance fell short of expectations. A combination of a break above March’s high (1.2900) and a bullish MA cross on the daily chart confirms the market’s upbeat mood. The latest retracement found support in the major demand zone over 1.2720. A break above 1.2840 may have flushed remaining selling interests out. Last December’s high at 1.2960 is the last hurdle and its breach could open the door for an extended rally above 1.3100. GER 40 struggles for support The Dax 40 tumbles as risk appetite subsides amid global policy tightening. The index has met stiff selling pressure at the origin of the late April sell-off at 14300. A drop below the psychological level of 14000 prompted buyers to bail out, invalidating the latest rebound in the process. A bearish MA cross is another sign that an imminent sell-off could be building up. A deeper correction below 13570 would send the price action to 13300. 13820 is a fresh resistance in case of a rebound.
Short Squeeze - What Is It? | Binance Academy

End Of Utopia!? Current Strength Of (USD) US Dollar Has Some Disadvantages... Does Fed Bear Them In Mind?

Chris Vermeulen Chris Vermeulen 09.05.2022 17:26
The US Dollar continues to attract capital from investors all over the world. But could this be a double-edged sword for US stocks? As capital flocks to the USD, this in turn hurts US multinationals as they need to convert their weak foreign currency profits back into USD. The USD safe-haven trade may eventually trigger a broad and deep selloff in US stocks. As the USD continues to strengthen, corporate profits for US multinationals will shrink or disappear. US Multinational $1 Billion Revenue Example: $1 billion in revenue-generating a 15% net profit with a net neutral 0% currency translation equals a $150 million profit. $1 billion in revenue-generating a 15% net profit with a negative -15% unfavorable currency translation expense equals a $0 profit! In addition, the impact of inflation on the global consumer will lead to a pullback in consumer spending which will further reduce corporate revenues and profits. The combination of the global currency dislocation along with the economic cool off will bring on a global recession. The following chart by Finviz shows the percentage the USD has appreciated against all the major global currencies year to date: Let’s review a few of these primary currencies to get a better idea of how much capital is migrating out of each of these countries and into the US dollar.       CANADIAN DOLLAR LOSING -7.29% The Canadian Dollar CAD peaked in the first week of June 1, 2021. The Canadian economy has benefited greatly from soaring energy and commodity prices, strengthening metals markets, and strong real estate prices. But despite this economic strength capital is still migrating out of the CAD and into the USD. INVESCO CURRENCY SHARES • CANADIAN DOLLAR TRUST ETF • ARCA • WEEKLY SWITZERLAND FRANC LOSING -12.53% The Switzerland Franc CHF peaked in the first week of January 6, 2021. The CHF has long been considered a safe haven for global capital during times of risk-off global market stress. The primary factor hurting the CHF is its current fiscal policy and negative interest rate of -0.75%. Therefore, the USD is still the preferred safe-haven currency due to CHF’s negative rate. Capital continues to flow out of the CHF into the USD. INVESCO CURRENCY SHARES • SWISS FRANC TRUST ETF • ARCA • WEEKLY BRITISH POUND LOSING -13.87% The British Pound GBP peaked in the first week of May 24, 2021. The GBP was the primary global reserve currency in the 19th century and the first half of the 20th century. However, that status ended when the UK almost bankrupted itself fighting World Wars I & 2. Since that time the US dollar has replaced the GBP as the primary reserve currency. The USD has a similar interest rate to the GBP and is also benefiting from its strong presence in energy and commodity markets. Therefore, the GBP is experiencing capital flows out of its currency and into the USD. INVESCO CURRENCY SHARES • BRITISH POUND TRUST ETF • ARCA • WEEKLY JAPANESE YEN LOSING -23.76% The Japanese Yen JPY peaked in the first week of March 2, 2020. The JPY has also long been considered a safe haven for global capital during times of risk-off global market stress. However, the primary factor hurting the JPY is its current fiscal policy and negative interest rate of -0.10%. Therefore, the USD is still the preferred safe-haven currency due to the JPY’s negative rate. Capital continues to flow out of the JPY into the USD. INVESCO CURRENCY SHARES • JAPANESE YEN TRUST ETF • ARCA • WEEKLY How We CAN HELP YOU Navigate Current Market Trends At TheTechnicalTraders.com, my team and I can do these things to assist you: We reduce your FOMO and manage your emotions. We have proven trading strategies for bull and bear markets. We provide quality trades you can trust. We tell you when to take profits and exit trades. We save you time with our research. We provide above-average returns/growth over the long run. We have consistent growth with low volatility/risks. We make trading and investing safer, more profitable, and educational. Sign up for my free trading newsletter so you don’t miss the next opportunity! Learn how we use specific tools to help us understand price cycles, set-ups, and price target levels in various sectors to identify strategic entry and exit points for trades. Over the next 12 to 24+ months, we expect very large price swings in the US stock market and other asset classes across the globe. We believe the markets have begun to transition away from the continued central bank support rally phase and have started a revaluation phase as global traders attempt to identify the next big trends. Precious Metals will likely start to act as a proper hedge as caution and concern begin to drive traders/investors into Metals and other safe-havens. Historically, bonds have served as one of these safe-havens, but that is not proving to be the case this time around. So if bonds are off the table, what bond alternatives are there and how can they be deployed in a bond replacement strategy? We invite you to join our group of active traders and investors to learn and profit from our three ETF Technical Trading Strategies. We can help you protect and grow your wealth in any type of market condition by clicking on the following link: www.TheTechnicalTraders.com
Here's your first look at Cyberpunk: Edgerunners! Coming to Netflix this September!

Philip Morris Buys Match, Fed Members Spills The Tea And Gold Price Nears Quite Low Values | Saxo Bank

Saxo Bank Saxo Bank 11.05.2022 17:29
Summary:  Global equity markets have bounced after the US briefly hit new cycle lows yesterday. One development at the margin that has helped is the sharp decline in longer bond yields, even as a couple of Fed members were out with hawkish comments. A strong 3-year US treasury auction showed strong demand. Elsewhere, gold remains under pressure and is on life support. The data focus today swings to the US and the release of April CPI data.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) - the rebound in US equities succeeded closing above the prior session’s close but met resistance above the 12,500 level in Nasdaq 100 futures. However, this morning Nasdaq 100 futures continue to rally trading around the 12,450-level attempting to break above the 12,500 level again which is needed to close Monday’s selloff range. Sentiment is still weak but a pause in the momentum in US 10-year interest rates is providing some support to US equities in the short-term. Q1 earnings results yesterday confirmed the slowdown in gaming and cryptocurrency trading activity. Hong Kong’s Hang Seng (HSI.I) and China’s CSI300 (000300.I). China’s A shares surged with ChiNext rising 4.3% and CSI300 up 2%. Electric equipment, semiconductors, EV battery, consumer electronics, wind and solar names led the charge higher. EV battery maker, CATL (300750) rose 7.7%. Hong Kong’s Hang Seng Index rose 1.7% and Hang Seng TECH Index gained 4.6% by mid-day.  After reporting better than market expected earnings and margin expansion, Li Auto (2015) surged 11%. The COVID related disruption to logistics and production, plus food and daily necessities stockpiling by households seems to make their impact felt on general price levels. China’s April PPI came at +8.0% YoY and CPI at +2.1% YoY, both higher than market expectations.   AUDUSD and USDCAD – the two key commodity currencies broke through key support against the US dollar this week, but so far the reaction to the development has been restrained and would likely take a further slide in risk sentiment, including in the commodity space for a notable extension lower. As the break levels remain nearby, the pairs deserve watching for the trend status and a possible reversal as well – resistance in AUDUSD is 0.7000-0.7050 and support in USDCAD comes in at 1.2900-50. Read next: Don't Worry Coffee Lovers! The Price Of Coffee Futures Falling Amidst Current Market Conditions, Crude Oil (WTI) Recovers Slightly, Palladium Prices Show Steady Downward Price Trend | FXMAG.COM USDJPY and JPY pairs – global sovereign bond yields have tumbled from their highs at the start of the week and crude oil has corrected sharply lower, two developments that support the Japanese yen, as Japan relies so heavily on energy imports and BoJ yield-curve-control policy means that the currency absorbs weakness when the domestic bond market is not “allowed” to. And yet, the JPY bounce on supportive developments has proven surprisingly muted – an opportunity or indication of further weakness to come? Watching for the reactivity in JPY pairs around the US CPI release today and 10-year US T-note auction later today as USDJPY is often one of the more sensitive currencies to US treasury yields. Gold (XAUUSD) dropped below $1850 support yesterday after several Fed officials backed multiple 50 basis point rate hikes. These comments helped drive fresh dollar strength and a continued rise in US real yields ahead of today’s US CPI print. Recent dollar strength, especially against the yuan and rupee has reduced demand from China and India, the world’s two biggest buyers of physical gold. With gold trading near a three-month low, demand for bullion backed ETFs has also ebbed with total holdings falling to a three-week low on Tuesday. Silver (XAGUSD) meanwhile slumped below previous support at $21.5, thereby adding an additional layer of weakness. From a technical perspective, the next key support level in gold is the 61.8% retracement of the March 2021 to March 2022 high at $1827. Crude oil (OILUKJUL22 & OILUSJUN22) traded higher in Asia with Brent bouncing before reaching key support below $100 per barrel. Catalyst for the move ahead of today’s US CPI print was a decline in the Covid19 infections in China providing some cautious optimism about a pickup in demand from the world’s largest importer. The cost of fuel due to lack of refinery capacity and sanctions against Russia remains very elevated with retail gasoline in the US hitting a record. The EIA meanwhile lowered its forecast for US production in 2022 and 2023 while Saudi Arabia and the UAE oil ministers warned that spare capacity is decreasing in all energy sectors. Developments that may offset any slowdown in global consumption due to lower growth and punitive high inflation. Monthly oil market reports from OPEC and IEA on Thursday. US Treasuries (TLT, IEF) – The US yield curve flattened sharply yesterday as hawkish talk from a couple of Fed members (see below) kept the shorter end of the yield curve elevated, while longer yields continued their sharp retreat ahead of a tone-setting 10-year T-note auction today, with the benchmark yield there trading just below 3.00%. The 3-year notes yesterday saw the strongest demand in over a year. What is going on? Fed officials continue to back rate hikes. Fed speakers are back on the wires backing multiple 50 basis point rate hikes, even as that might mean a bumpy ride for the economy and the markets. Cleveland Fed President Loretta Mester, in fact, also brought 75bps rate hikes back on the table for H2 if inflation doesn’t recede. US earnings recap. The big negative surprise was Coinbase reporting Q1 revenue of $1.17bn vs est. $1.48bn and a dark Q2 outlook expecting lower trading activity. Unity was in line with Q1 estimates but puts out a very low Q2 revenue figure of $290-295mn vs est. $360mn, but the fiscal year guidance is closer to consensus suggesting timing issues. Electronic Arts surprised investors given the weakness in gaming results recently guiding fiscal year 2023 (the company is not following the traditional calendar year) revenue a bit above consensus. Staying with gaming results, Roblox reported a slowdown in user activity (bookings) as so many other gaming companies have done in Q1. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Philip Morris to buy Swedish Match for SEK 106 per share. This is one of Europe’s largest transactions this year worth $16bn in an all-cash deal translating into a premium of 40%. Philip Morris is acquiring Swedish Match to get assets that are less about visual cigarettes to better cope with increasing regulation around the world against cigarettes. Declining Covid-19 cases in China helped boost sentiment across battered stock markets in Shanghai and Hong Kong overnight. The industrial metal sector has seen a sharp correction during the lockdown with the Bloomberg Industrial Metal Index currently up just 5% on the year after hitting a 39% gain on March 7. As lockdowns start to ease the focus across the sector is likely to return to tight global inventories and the prospect of a revival in demand with the Chinese government likely to initiate projects to support an economic revival. Six major mining companies who derive more than 60% of their revenue from copper have slumped between 25% and 50% from peaks achieved during the past year. What are we watching next? US CPI and 10-year T-note auction today. The 3-year T-note auction yesterday showed the strongest demand for 3-year US paper since early 2021. A 10-year T-note auction is set for today, with yields having retreated to near 3.00% from the highs earlier this week near the 2018 cycle high of 3.25%. Liquidity in the US treasury market is at its weakest levels since the pandemic-outbreak panic moment even before the Fed is set to begin reducing its balance sheet (requiring the market to absorb more treasury issuance). Reactivity in the US treasury market and the US dollar is also worth close observation today on the release of the April CPI data, expected to show the headline rising at only +0.2% MoM, but the core rising +0.4% MoM. The YoY expectations are +8.1%/+6.0% vs. +8.5%/+6.5% in March. EU gas prices jumped on Tuesday and may rise further today after Ukraine’s network operator warned Ukraine won’t accept gas at Sokhranivka, one of two cross-border points handling Russian flows, from today after occupying forces disrupted operation at the compressor station. It’s still possible for gas to be rerouted to the second entry point, Sudzha, allowing European contracts to be fulfilled, it said. How Gazprom reacts to these changes will set the tone in today’s trading. Dutch TTF benchmark gas briefly traded below its 200-day moving average support line at €89/MWh yesterday before ending the day near €100/MWH on the Ukraine news.  Earnings Watch. In Europe this morning the focus is on earnings from E.ON and Siemens Energy given the energy crisis in Europe. Genmab is also important to watch being one of Europe’s largest pure plays within the biotechnology industry. Later in the US session the focus is on Walt Disney given the latest weak results from Netflix and more reopening post the pandemic benefitting Disney’s physical entertainment assets. We will also watch Coupang, the largest e-commerce company in South Korea, given the bad Q1 results from most e-commerce companies. Today: Genmab, E.ON, Siemens Energy, Continental, Toyota, SoftBank, Takeda Pharmaceuticals, Delhaize, Mowi, Swedish Match, Walt Disney, Coupang Thursday: Verbund, KBC Group, Brookfield, Fortum, Siemens, Allianz, Merck, Hapag-Lloyd, RWE, Atlantia, Snam, NTT, SoftBank Group, Aegon, Naturgy Energy, Motorola Solutions Friday: Deutsche Telekom, KDDI, Honda Motor, Alibaba Economic calendar highlights for today (times GMT) 0715 – ECB's Nagel to speak 0800 – ECB President Lagarde to speak 0800 – ECB’s Vasle to speak 0830 – ECB's Makhlouf to speak 0850 – ECB's Knot to speak 1220 – ECB's Schnabel to speak 1230 – US Apr. CPI 1230 – US Apr. Real Average Hourly Earnings 1600 – US Fed’s Bostic (non-voter) to speak 1800 – US 10-year T-Note auction 2301 – UK Apr. RICS House Price Balance Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean Sticher Source: Saxo Bank
FX Update: Bond rally supercharges JPY comeback rally. | Saxo Bank

FX Update: Bond rally supercharges JPY comeback rally. | Saxo Bank

John Hardy John Hardy 12.05.2022 16:01
Summary:  An extension of the rout in risky assets has continued to drive the US dollar higher against the smaller currencies and most G10 currencies as well, but the Japanese yen has not only taken on a new shine, but is even sharply stronger against the strong US dollar as global bonds have suddenly rediscovered their safe haven appeal. Elsewhere, HKD is worth watching as the HKMA intervened for the first time of this cycle to maintain the top of the USDHKD band. FX Trading focus: JPY woke up and smelled the coffee. Watching HKD as USD presses upper level of USDHKD band. The JPY upside potential has been more fully realized since yesterday on the heavy weight of falling yields in global sovereign bond, which are finally serving their function as a go-to safe haven in an environment of generally risk deleveraging. The JPY is even handily outpacing the ongoing strength in the US dollar as the yield focus dominates. And the technical damage in JPY crosses is spreading: NZDJPY and GBPJPY, the latter our focus yesterday, are already trading back into old ranges that preceded the JPY sell-off sparked by the commodity rally in the wake after Russia invaded Ukraine. Now watching AUDJPY and EURJPY for whether the feat is repeated there (key levels around 86.00 and 134.00, respectively), and CNHJPY has come down hard, with more to come. More thoughts on the most important USDJPY pair below in the chart discussion. The JPY can continue higher, but the price is far “fairer” now relative to long term bond yields. Yields must extend lower still, possibly with a helping hand from crude oi and LNG prices for a full reversal of the JPY sell-off since late February.  Chart: USDJPYYesterday, our focus in JPY crosses was on GBPJPY, which took out the 160.00 and 158.00 area supports yesterday. Today we have a look at the big one: USDJPY and what levels might trigger a more notably slide. Arguably, the first of these has already been under strain today in the 128.50 area. Regardless, the direction of the US 10-year benchmark yield is the key coincident indicator, with global energy prices a secondary indicator. The next support area below is the 127.03 pivot low followed perhaps by the 125.00 area, which was a stopping point on the way up. Source: Saxo Group Sterling suffered a sell-off to new lows in the wake of the Q1 GDP data, which showed a +8.7% growth rate, slightly below expectations, but a -0.1% month-on-month figure for March, with weak production figures to boot. The March Trade Balance data was also out and showed a toe-curling negative £23.8B trade balance, a staggering figure. Still, after a run to fresh lows against the G3 currencies, the EURGBP rally reversed rather sharply, in part as EURUSD tipped over to new lows after a couple of weeks of defending the 1.0500 support area. All traders should monitor the crypto situation as a possible aggravator of additional volatility risk across markets. The TerraUSD “stable coin” broke its parity level with the US dollar earlier this week and traded as much as 70% below par. Then yesterday, a key Bitcoin support level at 30,000 broke, possibly inspiring the instability of the Tether stable coin, which is a commonly used as a kind of parking space between going in and out of crypto trades and in and out of the crypo market itself. The Tether coin traded as much as 5% below par against the US dollar this morning before the whole crypto-complex recovered. More directly pertinent to FX, we have to watch the Hong Kong dollar (HKD), as the USD strength has taken the USDHKD exchange rate to the upper limit of its band at 7.85 and has seen the Hong Kong Monetary Authority out intervening for the first time of this cycle overnight. The HKMA will also need to copy Fed policy to avoid the worst of pressure on the HKD, even with Hong Kong’s economy in a funk. The HKD band is one of those legacy set-ups that makes little sense here almost forty years after its creation, but Hong Kong remains a key gateway into and out of the mainland Chinese economy, and China probably doesn’t want to add HKD instability to its long list of challenges. Note the Chinese demand concerns continuing to weigh on the copper price, which has punched to the lowest reaches of the range since early 2021. This in turn weighs on the Aussie, which itself has punched to new lows for the cycle. The CAD has gotten off easy so far by comparison, perhaps as oil prices remain in the higher range here – but after breaking above resistance, if USDCAD loses its tethering to the 1.3000 area it is in danger of a sharp extension higher. Table: FX Board of G10 and CNH trend evolution and strength.We have noted the euro resilience of late, but signs of this crumbling today as EURUSD, EURCHF and especially EURJPY come under pressure. But the development of note here is the strong revival of the JPY momentum and outright positive trend measurement in recent days. Elsewhere, CAD looks too strong with this backdrop, although there is quite a race to the bottom of late among the weakest horses in G10 FX. Source: Bloomberg and Saxo Group Table: FX Board Trend Scoreboard for individual pairs.Note EURJPY and CADJPY trying to join other JPY crosses in flipping to the negative side after the sharp JPY rally today. All G10 currency pairs save for a few GBP pairs (due to Brexit-related events) are in the highest 10% of their ATRs of the last 1000 trading days, as shown in the dark orange shading for the ATR readings. Source: Bloomberg and Saxo Group Upcoming Economic Calendar Highlights (all times GMT) 1230 – US Apr. PPI 1230 – US Weekly Initial Jobless Claims 1800 – US 30-year T-Bond auction 1800 – Mexico Overnight Rate Announcement
USD/CAD Technical Analysis and Trading Tips for June 23, 2022

(USD/CAD) - Strong Performance Of Canadian Dollar - CAD rallies on US consumer confidence | Oanda

Kenny Fisher Kenny Fisher 16.05.2022 18:04
The Canadian dollar is unchanged on Monday, as it trades at the 1.29 line. Weak US consumer confidence boosts Canadian dollar The Canadian dollar ended the week in splendid fashion, with gains of over 1 per cent. This marked the Canadian dollar’s best one-day performance this year and recovered all of the week’s losses. The strong gains were driven by a disappointing UoM Consumer Sentiment index for May, which dropped to 59.2, down sharply from 65.2 in April and the lowest since October 2011. Just one year ago, the index was 82.8, indicative of a massive erosion in the confidence levels of the US consumer. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM Consumers were more pessimistic about current and future expectations, and inflation expectations remained at 5.4% for a third straight month, a 40-year high. A fall in consumer confidence has so far not spilled over to consumer spending, but soaring inflation could cause consumers to cut back on spending, which would hurt economic growth. Canada posted some solid numbers earlier today, although that wasn’t enough for the Canadian dollar to extend Friday’s impressive gains. Housing Starts and Wholesale Sales improved and were stronger than expected. Manufacturing Sales rose 2.5% in March, crushing the estimate of 1.7%. Oil and metal sales rose, reflective of high commodity prices, which is bullish for the commodity-based Canadian dollar. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Canada’s tightening job market is putting further pressure on the Bank of Canada to raise rates at a faster pace than expected. The benchmark rate is currently at an even 1.00%, after the 0.50% hike in April. Governor Macklem has hinted that he could deliver more 0.50% hikes and we could see rates rise to 2% by the end of Q2. Macklem has signalled the rate-hike cycle could be very aggressive, saying that he will lift rates above 3% if necessary, in order to beat back spiralling inflation. USD/CAD Technical USD/CAD is testing resistance at 1.2962. Above, there is resistance at 1.3023 There is support at 1.2848 and 1.2787   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
USD/CAD hits 1.3000 on weak oil price ahead of Fed's Powell Testimony and CPI Data Release | ICM.COM

Canadian dollar eyes CPI | Oanda

Kenny Fisher Kenny Fisher 18.05.2022 15:12
The Canadian dollar has looked sharp, taking advantage of recent US dollar weakness. USD/CAD barrelled past the 1.30 line on Thursday, but the Canadian dollar has rallied and is currently trading at 1.2830. Has Canada’s inflation peaked? Investors are keeping both eyes on Canada’s April inflation report, which will be released later today. On a monthly basis, the markets are expecting a significant drop – headline CPI is expected at 0.5% (1.4% prior) and core CPI is projected at 0.4% (1.0% prior). If the readings are within expectations, we can expect some headlines trumpeting that inflation has peaked. I would argue that it would be premature to declare that inflation is easing based on a single reading. Still, the CPI release could be a market-mover. If inflation is weak, the markets may expect the BoC to be less aggressive in its rate hiking stance and that could send the Canadian dollar lower. Conversely, a stronger than expected CPI would likely send the Canadian currency higher. The BoC raised rates by 0.50% in April, and there is strong pressure to deliver another 0.50% hike at the June 1st meeting, especially if inflation is higher than expected. The US dollar lost ground overnight, even though US Treasury yields moved higher and Fed Chair Powell said rates could rise above the terminal rate (around 3.50%) in order to contain inflation. Former Fed Chair Ben Bernanke weighed in on Fed policy, saying that the central bank waited too long to respond to inflation. Bernanke warned that he expected to see stagflation in the next year or two. Despite the talk of recession and stagflation, the US posted strong numbers on Tuesday, led by retail sales. The headline reading came in at 0.9% and core retail sales at 1.0%, as both beat the estimates. Consumers are in a spending mood, despite a weakening in consumer confidence. If inflation doesn’t show signs of easing in the next few months, consumers might reduce spending, which could dampen economic growth. . USD/CAD Technical USD/CAD is testing resistance at 1.2848. Above, there is resistance at 1.2962 There is support at 1.2787 and 1.2673 This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Rates Spark: Some two-way risk in rates

FX Update: Powell brings back the hike-until-it-breaks narrative. | Saxo Bank

John Hardy John Hardy 18.05.2022 15:57
Summary:  After the odd tapping on the brakes at the May 4 FOMC meeting, when the Fed wanted to take the idea of 75-basis point rates off the table, Fed Chair Powell reminded the market of its mission to ensure that it will not let up on policy tightening until it has achieved a sustained drop in inflation. Elsewhere, the sterling squeeze is fading fast and the status of key USD charts is pivotal. FX Trading focus: Powell puts back on the hawkish hat, GBP squeeze fading fast, USDCAD spotlight Fed Chair Powell reminds us of the Fed’s mission in saying that the Fed “won’t hesitate at all” to take the Fed Funds rate above neutral, and that “what we need to see is inflation coming down in a clear and convincing way, and we’re going to keep pushing until we see that.” Powell admitted that taking levels above neutral could bring some pain and a rise in the unemployment rate. End-2022 Fed expectations rose about 10 basis points yesterday and this morning were at 2.82%, just shy of the 2.88% cycle highs from before the May 4 FOMC meeting, at which Powell discouraged the idea of hiking more than 50 basis points at a time (why?). This only offered the USD a modicum of support overnight as risk sentiment absorbed the news without much fuss. GBP shorts caught in quite the squeeze yesterday, likely aggravated badly by positioning, which is quite heavily bearish in the US futures market and in general. Yesterday I mentioned the very strong payrolls data as a driver, but there was also the news that the UK government may be considering tax cuts, including a lowering of the VAT, as well as cost-of-living support for the most vulnerable citizens. In the first instance, this could eventually help ease inflation levels and thus allow the Bank of England to hike more than previously expected, but the follow-on thinking is that it could also keep demand higher than it would be otherwise and continue to driver extreme external deficits for the UK, eroding the sovereign UK balance sheet and therefore possibly trust in sterling as well. Sterling has surrendered much of yesterday’s gains – watching for a capitulation again in GBPUSD, while the EURGBP has bounced back above the existential 0.8450 area that  was pivotal on the way up. A very choppy chart there. USDCAD and US vs. Canada Housing spotlightThe CAD has received a double dose of support from the recent strong bounce in risk sentiment and crude oil prices pulling into the top of the range and beyond at times recently. But let’s look a bit further ahead at the inevitable gathering storm that is set to hit the housing market in coming months, after yields have lurched sharply higher. The headline is that if an ugly housing slowdown lies ahead, it will hit Canada’s economy with far more force than it will the US economy. Construction itself contributes about 75% more to GDP in Canada than the US (about 7.5% vs. 4.3%), and private balance sheets in Canada are far more levered, with notable local housing bubbles in Toronto and Vancouver making UBS world top ten list (at #2 and #6) of worst housing bubbles in 2021. The Greater Toronto area, by the way, represents over 17% of the Canadian population. I have better data on the US market and can see solidifying signs in leading indicators that the US housing market is set for a slowdown, including yesterday’s worst of the cycle drop in the NAHB for the May data point, which fell 8 points to 69 versus 75 expected and 77 in April. The latest Housing Starts and Building Permits data is up today (for April), although this lags the NAHB historically by about six months in directional terms. US Pending home sales have also rolled over as discussed in today’s Saxo Market Call podcast and are another leading indicator. So, while near term, an additional boost to sentiment and energy prices could see a break-down in USDCAD, the Canadian economy will face disproportionately large end-of-cycle pressures once the recession arrives, so clouds remain over the cycle outlook for the loonie. Chart thoughts below for USDCAD Chart: USDCADThe USDCAD chart has retreated to critical levels for bulls, as a significant punch below 1.2800 makes the chart look a lost cause for the bulls (arguably, the last, last gasp area is just ahead of 1.2700 at the prior pivot lows or even 1.2660 if using the 61.8% retracement and the 200-day moving average, although the reversal back down through 1.2900-50 has already been a disappointment after that level to the upside was broken. An impulsive recovery back above 1.3000 to put the momentum back on track higher. Source: Saxo Group Underwhelming wage price data for Q1 from Australia overnight, which rose a mere 0.7% QoQ and 2.4% YoY, both 0.1% below expectations. This is meant to be the key data that would drive the RBA to accelerate its tightening regime if it provided evidence of a wage price spiral. Alas, the AUD seems more focused on hopes for China lifting Covid restrictions and swings in risk sentiment. The 0.7000-0.7050 zone remains the tactical resistance focus, with bears possibly needing to retreat back to 0.7200-50 if it does not hold. Table: FX Board of G10 and CNH trend evolution and strength.The USD is losing steam in a trending sense, and would need a solid new impulsive move higher soon to avoid a further breakdown in key pairs, and versus the G10 currencies generally. Source: Bloomberg and Saxo Group Table: FX Board Trend Scoreboard for individual pairs.USDCAD is on the verge of flipping into a positive territory on the trend readings if it can’t rally soon. Also note the EURGBP rally hanging on by a thread here. Source: Bloomberg and Saxo Group Upcoming Economic Calendar Highlights (all times GMT) 1230 – US Apr. Housing Starts and Building Permits 1230 – Canada Apr. CPI 1230 – Canada Apr. Home Price Index 2000 – US Fed’ Harker (Non-voter) to speak 2350 – Japan Apr. Trade Balance 0130 – Australia Apr. Employment Data Source: Saxo Bank
The Commodities Feed: Gasoline stocks edge higher | ING Economics

Will US Dollar To Canadian Dollar (USD/CAD) Plunge? Canadian dollar (CAD) eyes retail sales | Oanda

Kenny Fisher Kenny Fisher 26.05.2022 15:48
The Canadian dollar is drifting just above the 1.28 line, but that could change in the North American session, with the release of Canada’s retail sales for March. The headline figure is expected to jump to 1.4% MoM, after a negligible gain of 0.1% in April. Core retail sales is projected to come in at 2.0%, little changed from the previous reading of 2.1%. A stronger-than-expected reading would likely boost the Canadian dollar, while an underperforming release would raise questions about the recovery and could push the currency lower. FOMC minutes soothe market nerves The FOMC minutes, released on Wednesday, didn’t contain any surprises, which was just fine as far as the markets were concerned. Investors have become increasingly nervous over the spectre of a recession in the United States. Recent data is pointing to a possible slowdown, at the same time that the Federal Reserve has embarked on an aggressive rate-hike cycle which will slow the economy. With inflation still not showing signs of peaking, there have been calls from some Fed officials to deliver a super-super-size 75 bps hike. To the relief of the nervous markets, the minutes appeared to put to rest that drastic scenario, as the Fed signalled that it will hike by 50 bps in June and July, followed by a pause in September. This would allow the Fed to monitor the effects of the June and July hikes on the economy and whether inflation is finally easing. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM The US dollar showed modest gains after the minutes were released, but we are seeing limited movement across the majors today. The dollar index rose slightly to 102.07, but has retreated to 101.83, as resistance at the multi-year breakout line of 102. 35 held firm. There is support at 101.50 and 101.00. USD/CAD Technical There is resistance at 1.2866 and 1.2955 USD/CAD has support at 1.2750 and 1.2661 This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Follow FXMAG.COM on Google News
USD/CAD: Loonie yields to greenback amid hawkish Fed  Read more: https://www.instaforex.eu/forex_analysis/313102

USD/CAD: Loonie (Canadian Dollars) Yields To US Dollar Amid Hawkish Fed (Federal Reserve) | InstaForex

InstaForex Analysis InstaForex Analysis 10.06.2022 14:24
Relevance up to 11:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Interesting events are taking place around the USD/CAD pair. The Canadian dollar has been steadily strengthening for almost four weeks amid the strengthening of the oil market and the hawkish mood of the Bank of Canada. Since May 13, the loonie has risen by 500 points, reaching a two-month low (1.2516) on June 8. However, USD/CAD bears could not enter the area of the 24th figure. The day before yesterday, the pair turned 180 degrees and soared sharply, rising by more than 200 points in two days. This price spurt is primarily due to the strengthening of the US currency. The Canadian dollar could not hold back the onslaught of the dollar bulls, but there was no clear informational reason for the weakening of the loonie. Obviously, the greenback plays the role of the first fiddle in the USD/CAD pair, so the further prospects of the loonie depend on the behavior of the US currency.     Note that following the results of the June meeting, the Canadian regulator raised the interest rate by 50 basis points, thereby realizing the most expected scenario. But at the same time, the Bank of Canada maintained a hawkish attitude and announced further tightening of monetary policy. The rhetoric of the head of the Canadian central bank allowed the USD/CAD bears to increase pressure on the pair. In the text of the accompanying statement, the regulator indicated that in the second quarter, the country's economic growth "will be quite strong," given the steady consumer spending, as well as the strengthening of exports. Analyzing the results of the June meeting, most experts came to the conclusion that in July the regulator will also raise the interest rate by 50 basis points. On these rails of a fundamental nature, the loonie dropped to the bottom of the 25th figure. It should be noted here that the Canadian dollar is a worthy competitor to the US currency: the loonie often rose in price even against the background of a general strengthening of the greenback. In my opinion, the main reason for this stress resistance of the Canadian lies in the actions of the Bank of Canada. Recall that last year the Canadian regulator showed a combative character, outstripping even the US Federal Reserve in this regard. Firstly, the BOC began to reduce QE in the first half of last year (becoming the first of the G7 central banks to begin gradually curtailing anti-crisis measures). In October 2021, the regulator announced the early completion of the incentive program. As you know, the Fed members made a similar decision on the early curtailment of QE only a month later—at the November meeting. Then the Federal Reserve and the Canadian regulator, so to speak, went level, systematically tightening their rhetoric and monetary policy parameters. Central banks raised the interest rate in March and declared further steps in this direction. Therefore, for a long time, the loonie did not succumb to the onslaught of dollar bulls, using any weakening of the greenback in his favor. To date, the situation has changed somewhat. There has been increasing market speculation that the Fed will raise interest rates in 50-point increments at every meeting this year. Nearly 70% of economists surveyed by Reuters said the Fed would pause rate hikes in the first or even second quarter of next year. Some representatives of the Fed indirectly confirm these assumptions. In particular, Fed Board member Christopher Waller said earlier this week that he supports raising interest rates by 50 basis points "in the next few meetings." Fed Vice Chair Lael Brainard also said that the regulator is not going to stop there, as "the number one priority is to reduce inflation." St. Louis Fed President James Bullard (who also has the right to vote this year) recently repeated his thesis, pointing out that the Fed needs several 50-point rate hikes. The Bank of Canada is currently unable to demonstrate such decisiveness: the event horizon here is limited to the July meeting, at which the central bank is likely to raise rates by 50 points. However, future prospects are still rather vague. Thus, the USD/CAD pair was able to turn 180 degrees mainly due to the strengthening of the hawkish mood regarding the Fed's next steps. The Canadian regulator has already said its word, while the American central bank still retains a certain intrigue. The US dollar retains the potential for its further strengthening. From a technical point of view, the USD/CAD pair is currently testing the middle line of the Bollinger Bands indicator on the D1 timeframe (1.2720). Most likely, traders will overcome this price barrier, given the strength of the upward movement. The next upward target is 1.2790, which is the upper boundary of the Kumo cloud on the same timeframe. Overcoming this target will open the way for USD/CAD buyers to the area of the 28th figure.   Read more: https://www.instaforex.eu/forex_analysis/313102
Markets eye Canadian job report, US inflation

1 USD To CAD: What's Ahead USD/CAD? The US Inflation And Canadian Job Report | Oanda

Kenny Fisher Kenny Fisher 10.06.2022 14:08
The Canadian dollar has extended its losses today. USD/CAD is trading at 1.2743, up 0.35% on the day. Thursday saw the US dollar gives its Canadian cousin a spanking, as USD/CAD jumped 1.13%, its highest daily gain this year. A rise in US Treasury yields helped boost the US dollar, as the 10-year yield remains above 3%. As well, US unemployment claims disappointed, rising to 229 thousand. This was higher than the previous release of 202 thousand and above the estimate of 210 thousand. The rise in claims was not massive, but nonetheless has fed into the market’s nervousness over the US economy, and the result was a drop in risk appetite which sent the Canadian dollar tumbling lower. It could be a busy end to the trading week, with Canada’s employment report and US inflation on today’s schedule. Canada’s job numbers for May are expected to be solid – the economy is projected to have created 30.0 thousand new jobs, up from 15.3 thousand in April. The unemployment rate is forecast to remain unchanged at 5.2%. All eyes on US inflation The highlight of the week will be US inflation for May. Headline inflation is expected at 8.3% (unchanged), while Core CPI is forecast to fall to 5.9%, down from 6.2%. If inflation does indeed drop, there will likely be voices proclaiming that the long-sought inflation peak is finally here. It would, however, be premature to assume that inflation is on a downswing based on one reading alone. Still, there is plenty of anticipation around the inflation release, such that it could be a binary outcome for USD/CAD – if inflation outperforms, Fed hiking expectations will rise. If, however, inflation drops, we could see a move to sell US dollars. . USD/CAD Technical USD/CAD is testing resistance at 1.2703. Above, there is resistance at 1.2812 There is support at 1.2628 and 1.2519   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Markets eye Canadian job report, US inflation - MarketPulseMarketPulse
Markets May Shock You Today! FX: EUR/USD & USDCAD, DAX (GER 40) And FTSE (UK 100) - Daily analysis by DayTradeIdeas - 20/06/2022

Markets May Shock You Today! FX: EUR/USD & USDCAD, DAX (GER 40) And FTSE (UK 100) - Daily analysis by DayTradeIdeas - 20/06/2022

Jason Sen Jason Sen 20.06.2022 08:05
EURUSD recovery from the May low of 1.0360/50 leaves a potential double bottom buy signal although on Friday we made a high for the day at 1.0545/55. Above here today retests Thursday's high at 1.0660/62 then last week's high at 1.0640/42. Minor support at 1.0460/50. Below 1.0330 risks a retest of the double bottom low at 1.0360/50. Longs need stops below 1.0325. USDCAD clearly at the upper end of the 1 year range as we retest the May high at 1.3060/80. This will be key to direction for this week. Probably worth trying a short with stop above 1.3100. A break higher however targets 1.3160/70 & 1.3240/60. Shorts at 1.3060/80 target 1.3030/20 & 1.3000/1.2990. Expected good support at 1.2955/35 for today. Dax looks likely we can hold important longer term support at 13250/150 for a bounce to 13360/380 then 13500 & resistance at 13600/650. We have a gap to fill at 13730/750. A break above here is anther buy signal. A break below 12950 is a very important medium term sell signal initially targeting 12700/600 before a retest of the March low at 12450/425. FTSE broke lower to the next target of 7000/6990 last week, holding just 56 ticks above very strong support at 6940/10. Longs here this week need stops below 6870. The bounce on Friday held 8 ticks from strong resistance at 7120/40. Shorts need stops above 7160. A break higher is a buy signal targeting 7240/50, perhaps as far as strong resistance at 7300/20. To receive this report every morning please subscribe at our website www.daytradeideas.co.uk or email jason@daytradeideas.co.uk