USD/CAD Outlook: Loonie Surges on Stronger than Expected Canada’s GDP Data
The pair fell sharply on announcement of upbeat Canada’s GDP (Jan 0.3% m/m vs 0.1% f/c and -0.1% prev) while US personal income and spending fell below expectations in Jan.Canadian dollar was inflated by stronger than expected data while the...
New home sales rise to 11-month high in February
Sales of new U.S. single-family homes increased to an 11-month high in February and sales for January were revised higher, suggesting that lower mortgage rates were starting to lift the struggling housing market. The Commerce Department said on Friday new...
Canadian Dollar Surges on GDP Surprise and Oil Rally, Sterling Recovers ahead of Brexit Vote
Canadian Dollar jumps sharply in early US session after stronger than expected GDP data. At least, the three month-rolling average remained in expansion despite the contraction in December and November. Additionally, WTI crude oil surged through recent resistance to resume...
If a recession really is coming, here’s what Powell and Trump can do to stop it
With a reliable bond market signal pointing to a possible recession down the road, policymakers have a choice: act now to head off the downturn or hope that conditions will change for the better. As far as markets are concerned,...
CRUDE OIL Eyes 60.37 Resistance Zone And Beyond
CRUDE OIL eyes 60.37 resistance zone and beyond as it follows through higher on its Thursday price reversal. Support lies at the 59.50 level where a break will expose the 59.00 level. A cut through here will set the stage...
USDTRY Could See Further Improvement in Near Term
USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, around 5.5970 on Friday. Over the last couple of days, the price has been paring...
Consumer spending, personal income data show economy slowing swiftly in the new year
U.S. consumer spending rebounded less than expected in January and incomes rose modestly in February, suggesting the economy was fast losing momentum after growth slowed in the fourth quarter. The Commerce Department said on Friday consumer spending, which accounts for...
European Update – Another Brexit Vote
Sterling slips amid Brexit chaos The pound is looking a little soft after another chaotic week in Parliament, one in which MPs decisively took back control before indecisively failing to agree on an alternative. Theresa May finally won the backing...
USD/CAD – Canadian Dollar Slightly Higher Ahead Of GDP
The Canadian dollar has edged higher on Friday, erasing the losses seen on Thursday. Currently, the pair is trading at 1.3415, down 0.20% on the day. On the release front, it’s a busy day on both sides of the border....
AUD/USD Tested 100– And 200-Hour SMAs
Downside risks prevailed in the market on Thursday, thus allowing the Australian Dollar to decline about 41 base points against the US Dollar. The currency pair tested the lower boundary of an ascending channel pattern at 0.7064. Everything being equal,...