USD/CAD – Canadian Dollar Subdued Ahead of Fed Minutes

The Canadian dollar has recorded slight losses in the Tuesday session. Currently, USD/CAD is trading at 1.2669, up 0.16% on the day. On the release front, there are no Canadian releases on the schedule. In the US, the key event is the Federal Reserve minutes from the January meeting. We’ll also get a look at Existing Home Sales, which are expected to climb to 5.61 million. On Thursday, Canada releases retail sales reports and the US will publish unemployment claims.

The week started on a sour note for Canadian indicators, as Wholesales Sales declined 0.5%, short of the estimate of 0.4%. It marked the first decline in three months. The markets are expecting another soft release from Core Retail Sales, a key barometer of consumer spending. The indicator posted a strong gain of 1.6% in December, but is forecast to slow to just 0.1% in January. If consumer spending posts a weak reading, the Canadian dollar could lose more ground. The pair is under pressure, and has shed 1.0% so far this month.

It has been an eventful few weeks for Jerome Powell, who has just commenced his stint as chair of the Federal Reserve. Strong US data in recent weeks has raised speculation that the Fed may need to accelerate the pace of interest rate hikes in 2018. The Fed is currently projecting three rate hikes this year, but if inflation continues to move upwards, many analysts are expecting that the Fed could press the rate trigger four, or even five times in 2018. Meanwhile, concern over higher inflation and more rate hikes sent the stock markets into a frenzy earlier in February. Powell sought to reassure the markets that the Fed was monitoring the situation, but it’s doubtful that the Fed can do much to prevent volatility in the markets.

 

 

USD/CAD Fundamentals

Wednesday (February 21)

  • 9:45 US Flash Manufacturing PMI. Estimate 55.4
  • 9:45 US Flash Services PMI. Estimate 53.8
  • 14:00 US FOMC Meeting Minutes

Thursday (February 22)

  • 8:30 Canadian Core Retail Sales. Estimate 0.1%
  • 8:30 Canadian Retail Sales. Estimate 0.0%

*All release times are GMT

*Key events are in bold

 

USD/CAD for Wednesday, February 21, 2018

USD/CAD, February 21 at 7:40 EST

Open: 1.2548 High: 1.2671 Low: 1.2640 Close: 1.2669

 

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2351 1.2494 1.2630 1.2757 1.2855 1.2920

USD/CAD has posted small gains in the Asian and European sessions

  • 1.2494 is providing support
  • 1.2630 is a weak resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2630, 1.2494, 1.2351 and 1.2190
  • Above: 1.2757, 1.2855 and 1.2920

OANDA’s Open Positions Ratio

USD/CAD ratio is showing little movement in the Wednesday session. Currently, short positions have a slender majority (52%), indicative of slight trader bias towards USD/CAD reversing directions and moving lower.

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.

FX Market Analysis – 20 February 2018 (Video)

Senior Market Analyst Craig Erlam discusses this week’s key event risks, with the most notable being the UK jobs report and BoE inflation report hearing.

Craig also gives his live analysis on EURUSD (11:04), GBPUSD (15:13), EURGBP (17:04), AUDUSD (18:36), USDCAD (20:02), GBPCAD (22:01), NZDUSD (24:47), USDJPY (25:44), GBPJPY (26:47) and EURJPY (28:24).

USD/JPY – Dollar Punches Above 107 Yen, Fed Minutes Ahead

Higher Yields Pushing Dollar Up

Intermezzo

USD/CAD – Canadian Dollar Dips, Wholesale Sales Next

The Canadian dollar has recorded slight losses in the Tuesday session. Currently, USD/CAD is trading at 1.2606, up 0.37% on the day. On the release front, it’s a very light day. There are no US releases on the schedule. The sole Canadian indicator, Wholesale Sales, is expected to slow to 0.4%. On Wednesday, the Federal Reserve will release the minutes of its January meeting. As well, the US will release Existing Home Sales.

It’s been an eventful few weeks for Jerome Powell, who has just commenced his stint as chair of the Federal Reserve. Strong US data in recent weeks has raised speculation that the Fed may need to accelerate the pace of interest rate hikes in 2018. The Fed is currently projecting three rate hikes this year, but if inflation continues to move upwards, many analysts are expecting that the Fed could press the rate trigger four, or even five times in 2018. Meanwhile, concern over higher inflation and more rate hikes sent the stock markets into a frenzy earlier in February. Powell sought to reassure the markets that the Fed was monitoring the situation, but it’s doubtful that the Fed can do much to prevent volatility in the markets.

Virtual currencies have seen wild fluctuations in recent months. Bitcoin, for example, has fluctuated this year between $900 and $19,000. There are growing calls for these currencies to be regulated, and central banks could play a key role in such a move. However, last week, ECB President Mario Draghi poured cold water on any ECB involvement, saying that it was not the ECB’s responsibility to ban or regulate Bitcoin. Draghi added that the ECB was exploring the use of blockchain, a digital technology to monitor bitcoin transactions. Still, with Bitcoin gaining more and more popularity, lawmakers are paying more attention to the negative impact that virtual currencies can have on the economy. In the US, there is bipartisan support in Congress to adopt new rules to regulate virtual currencies, so the days of the ‘wild wild West’ in virtual currency trading may be numbered.

Higher Yields Pushing Dollar Up

 

USD/CAD Fundamentals

Tuesday (February 20)

  • 8:30 Canadian Wholesale Sales. Estimate 0.4%

Wednesday (February 21)

  • 14:00 US FOMC Meeting Minutes

*All release times are GMT

*Key events are in bold

 

USD/CAD for Tuesday, February 20, 2018

USD/CAD, February 20 at 8:05 EST

Open: 1.2561 High: 1.2605 Low: 1.2557 Close: 1.2592

 

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD has posted small gains in the Asian and European sessions

  • 1.2494 is providing support
  • 1.2630 is a weak resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is showing little movement in the Tuesday session. Currently, short and long positions are evenly split, indicative of a lack of trader bias as to which direction USD/CAD will take next.

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 – Canadian Dollar Unchanged, No Fundamentals to Start Off Week

The Canadian dollar is almost unchanged in the Monday session, after posting losses on Friday. Currently, USD/CAD is trading at 1.2493, up 0.07% on the day. On the release front, there are no Canadian or US events on the schedule, so traders can expect the pair to have a quiet day. In the US, banks and stock markets are closed for Presidents’ Day.

The Canadian dollar posted losses on Friday, but managed to post slight gains last week. The currency weakened on Friday, after the US posted sharp housing and consumer confidence reports. Building Permits jumped to 1.40 million in January, up from 1.30 million in December. This easily beat the estimate of 1.29 million. Housing Starts followed suit and improved to 1.33 million in January, up from 1.19 million a month earlier. This was well above the forecast of 1.28 million. There was more positive news from consumer confidence, as UoM Consumer Confidence climbed to 99.9, well above the estimate of 95.4 points. This marked a 4-month high. On Wednesday, the Canadian dollar recorded its best one-day performance in 2018, gaining close to 1 percent against the greenback. The US dollar sagged as investors focused on poor retail sales reports in January. Retail Sales was flat at 0.0%, short of the estimate of 0.5%. Core Retail Sales declined 0.3%, well off the forecast of +0.2%.

Should cryptocurrencies be regulated? Bitcoin has seen wild fluctuations in recent months, ranging from under $1000 to just under $20,000. There are growing calls for these currencies to be regulated, and central banks could play a key role in such a move. However, last week, ECB President Mario Draghi poured cold water on any ECB involvement, saying that it was not the ECB’s responsibility to ban or regulate Bitcoin. Draghi added that the ECB was exploring the use of blockchain, a digital technology to monitor bitcoin transactions. Still, with Bitcoin gaining more and more popularity, the Bank of Canada and other central banks will have to pay greater to attention to the impact of Bitcoin on the currency markets.

USD/CAD Fundamentals

  • There are no US or Canadian indicators

USD/CAD for Monday, February 19, 2018

USD/CAD, February 19 at 8:05 EST

Open: 1.2555 High: 1.2566 Low: 1.2527 Close: 1.2563

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD ticked lower in the Asian session but has recovered in European trade

  • 1.2494 is providing support
  • 1.2561 is the next resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is showing little movement in the Monday session. Currently, short positions have a slender majority (52%), indicative of slight trader bias towards USD/CAD breaking out and moving lower.

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 – Canadian Dollar Ticks Higher, Markets Await US Inflation Reports

The Canadian dollar continues to trade sideways this week. In the Wednesday session, the pair is trading at 1.2576, down 0.14% on the day. On the release front, there are no Canadian indicators for a third straight day. In the US, the markets are expecting mixed inflation numbers. Core CPI is expected to expected to edge lower to 0.2%, while CPI is forecast to improve to 0.1%. The US will also release retail sales reports. Retail Sales is forecast to slow to 0.2%, while Core CPI is forecast to accelerate to 0.5%. Traders should be prepared for movement on the currency markets during the North American session.

It’s been a rough February for the Canadian dollar, which has declined 2.4%. The loonie lost ground during last week’s massive sell-off in the stock markets, as nervous investors lost their risk appetite and scurried away from minor currencies such as the Canadian dollar. However, the country’s economic fundamentals remain solid, and the Bank of Canada is expected to raise rates twice more this year, after hiking rates in January. If oil prices remain high and the economy remains strong, there is room for the Canadian dollar to gain ground. However, there are some worrying clouds not too far off. These include uncertainties over the NAFTA trade agreement and the possibility that the Federal Reserve will accelerate the pace of its rate hikes, putting more pressure on the Canadian dollar.

Global stock markets have steadied after last week’s turbulence, but investors remain wary. Wednesday’s US inflation numbers will be closely watched, as inflation fears was a key catalyst of the massive sell-off. The new head of the Federal Reserve, Jerome Powell, sought to send a reassuring message on Tuesday, saying that the Fed is on alert to any risks to financial stability. However, it is clear that the Fed’s hand is limited when it comes to stock markets moves, and the volatility which we saw last week could resume at any time.

USD/CAD Fundamentals

Wednesday (February 14)

  • 8:30 US CPI. Estimate 0.3%
  • 8:30 US Core CPI. Estimate 0.2%
  • 8:30 US Core Retail Sales. Estimate 0.2%
  • 8:30 US Retail Sales. Estimate 0.5%

Thursday (February 15)

  • 8:30 Canadian ADP Non-Farm Employment Change
  • 8:30 US PPI. Estimate 0.4%
  • 8:30 US Empire State Manufacturing Index. Estimate 17.7
  • 8:30 US Philly Fed Manufacturing Index. Estimate 21.5
  • 8:30 US Unemployment Claims. Estimate 229K

*All release times are GMT

*Key events are in bold

USD/CAD for Wednesday, February 14, 2018

USD/CAD, February 14 at 8:05 EST

Open: 1.2593 High: 1.2599 Low: 1.2561 Close: 1.2576

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD edged lower in the Asian session and is showing limited movement in the European session

  • 1.2494 is providing support
  • 1.2630 is providing resistance
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is unchanged in the Wednesday session. Currently, long and short positions are evenly split, indicative of a lack of trader bias towards as to what direction USD/CAD takes next.

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 – Canadian Dollar Trading Sideways

The Canadian dollar continues to have an uneventful week. In the Tuesday’s session, the pair is trading at 1.2587, up 0.07% on the day. On the release front, there are no Canadian indicators on the schedule. In the US, the sole indicator is the NFIB Small Business Index, which improved to 106.9, above the estimate of 106.2 points. On Wednesday the US releases CPI and retail sales indicators. Traders should be prepared for movement from USD/CAD during the North American session.

Last week’s market selloff boosted the US dollar, at the expense of the Canadian dollar and most other major currencies. The Canadian dollar dropped 1.2% last week, and is down 2.2% in February, erasing the gains we saw in January. Interestingly, the catalyst for the current turbulence has been solid economic data in the US, namely, improved payrolls and wage growth reports. Is the correction over? It’s too early too tell, since much of the sell-off is related to investor concerns over possible interest rate hikes by major central banks. The Bank of England has said it could accelerate its pace of hikes, and the Federal Reserve could follow suit if inflation moves higher.

It’s been a rough February for the Canadian dollar, which has declined 2.4%. The loonie was hurt by last week’s massive sell-off in the stock markets, as nervous investors lost their risk appetite and scurried away from minor currencies such as the Canadian dollar. However, the country’s economic fundamentals remain solid, and the Bank of Canada is expected to raise rates twice more this year, after hiking rates in January. If oil prices remain high and the economy remains strong, there is room for the Canadian dollar to gain ground.

Canadian employment growth has impressed in recent months, but the trend reversed sharply in January. Employment Change plunged by 88.0 thousand, well off the estimate of +10.3 thousand. The unemployment rate climbed from 5.7% to 5.9%, missing the estimate of 5.8%. The Canadian dollar reacted on Friday with losses, but managed to recover and ended the Friday session almost unchanged.

USD/CAD Fundamentals

Tuesday (February 13)

  • 6:00 US NFIB Small Business Index. Estimate 106.2. Actual 106.9
  • 8:00 US FOMC Member Loretta Mester Speaks

Wednesday (February 14)

  • 8:30 US CPI. Estimate 0.3%
  • 8:30 US Core CPI. Estimate 0.2%
  • 8:30 US Core Retail Sales. Estimate 0.2%
  • 8:30 US Retail Sales. Estimate 0.5%

*All release times are GMT

*Key events are in bold

USD/CAD for Tuesday, February 13, 2018

USD/CAD, February 13 at 8:05 EST

Open: 1.2577 High: 1.2594 Low: 1.2566 Close: 1.2587

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD was flat in the Asian session and has posted limited movement in the European session

  • 1.2494 is providing support
  • 1.2630 is providing resistance
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is almost unchanged in the Tuesday session. Currently, long and short positions are evenly split, indicative of a lack of trader bias towards as to what direction USD/CAD takes next.

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 – Canadian Dollar Unchanged as Investors Search for Cues

The Canadian dollar has ticked higher in the Friday session. Currently, the pair is trading at 1.2609, up 0.05% on the day. On the release front, the focus is on Canadian employment indicators, with the release of Employment Change and the unemployment rate. Traders should be prepared for some movement from the Canadian dollar in the North American session.

This week’s market selloff has boosted the US dollar, at the expense of the Canadian dollar and most other major currencies. The Canadian dollar has dropped 1.4% this week, and is down 2.5% in February, erasing the gains we saw in January. Interestingly, the catalyst for the current turbulence has been solid economic data in the US, namely, improved payrolls and wage growth reports. This has raised concerns of inflation, which could lead to a quicker pace of rate hikes from the Federal Reserve. This sentiment has sent the bond markets higher, while weighing on global stock markets.

After some spectacular readings, Canada’s economy is expected to show more modest job creation in January, with an estimate of 10.3 thousand. The unemployment rate is forecast to edge up from 5.7% to 5.8%. If these predictions are within expectations, the Canadian dollar could gain some ground on Friday, and end a tough week on a positive note.

USD/CAD Fundamentals

Monday (February 12)

  • 14:00 US Federal Budget Balance. Estimate 50.2B

*All release times are GMT

*Key events are in bold

 

USD/CAD for Monday, February 12, 2018

USD/CAD, February 2 at 8:10 EDT

Open: 1.2603 High: 1.2616 Low: 1.2585 Close: 1.2607

 

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD has showed little movement in the Asian and European sessions

  • 1.2494 is providing support
  • 1.2630 is a weak resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is unchanged in the Monday session. Currently, long positions have a majority (51%), indicative of a lack of trader bias towards as to what direction USD/CAD takes next.

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 -Canadian Dollar in Holding Pattern Ahead of Key Job Reports

The Canadian dollar has ticked higher in the Friday session. Currently, the pair is trading at 1.2609, up 0.05% on the day. On the release front, the focus is on Canadian employment indicators, with the release of Employment Change and the unemployment rate.

This week’s market selloff has boosted the US dollar, at the expense of the Canadian dollar and most other major currencies. The Canadian dollar has dropped 1.4% this week, and is down 2.5% in February, erasing the gains we saw in January. Interestingly, the catalyst for the current turbulence has been solid economic data in the US, namely, improved payrolls and wage growth reports. This has raised concerns of inflation, which could lead to a quicker pace of rate hikes from the Federal Reserve. This sentiment has sent the bond markets higher, while weighing on global stock markets.

After some spectacular readings, Canada’s economy is expected to show more modest job creation in January, with an estimate of 10.3 thousand. The unemployment rate is forecast to edge up from 5.7% to 5.8%. If these predictions are within expectations, the Canadian dollar could gain some ground on Friday, and end a tough week on a positive note.

 

USD/CAD Fundamentals

Friday (February 9)

  • 8:30 Canadian Employment Change. Estimate 10.3K
  • 8:30 Canadian Unemployment Rate. Estimate 5.8%
  • 10:00 US Final Wholesale Inventories. Estimate 0.2%

*All release times are GMT

*Key events are in bold

 

USD/CAD for Friday, February 9, 2018

USD/CAD, February 9 at 7:15 EDT

Open: 1.2603 High: 1.2616 Low: 1.2585 Close: 1.2607

 

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD has showed little movement in the Asian and European sessions

  • 1.2494 is providing support
  • 1.2630 is a weak resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is unchanged in the Friday session. Currently, long positions have a majority (53%), indicative of trader bias towards USD/CAD continuing to move upwards.

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 – Canadian Dollar Steady as Housing Reports a Mixed Bag

The Canadian dollar has ticked higher in the Thursday session. Currently, the pair is trading at 1.2562, down 0.07% on the day. On the release front, Canadian housing numbers were mixed. The New Housing Price Index edged lower to 0.0%, shy of the estimate of 0.1%. This was the first time the index failed to post a gain since January 2015. There was better news from Housing Starts, which was almost unchanged at 216 thousand, beating the forecast of 211 thousand. In the US, unemployment claims dropped down to 221 thousand, well below the estimate of 232 thousand. The 4-week average claims dropped to 224,500, its lowest level since 1973. On Friday, Canada releases key employment data – Employment Change and the unemployment rate.

The US dollar has posted broad gains this week, boosted by strong volatility in the stock markets. On Monday, the Dow Jones posted its biggest one-day loss, and US markets have pointed downwards for much of the week. The catalyst for the stock market slide is concern that inflation could rise in the US, which in turn would trigger additional rate hikes from the Fed. This would make the US dollar more attractive against other currencies. With investor risk appetite sharply lower, the Canadian dollar is under strong pressure. Earlier in the day, USD/CAD touched a high of 1.2598, its highest level since late December.

Canadian indicators disappointed on Tuesday. Canada’s trade deficit widened from C$2.5 billion to C$3.2 billion, well above the estimate of C$2.3 billion. The export sector has been steady, but uncertainty over NAFTA is a dark cloud over the economy, and exports could suffer if the trilateral free trade pact is not renewed. The US has threatened to leave the pact if the Canada and Mexico do not agree to major concessions, such as increasing the percentage of US content in auto parts produced under NAFTA. Elsewhere, Canadian Ivey PMI continues to point to expansion, but slowed to 55.2, down from 60.4 in the previous release. This was well off the forecast of 60.7 points.

USD/CAD Fundamentals

Thursday (February 8)

  • 8:15 Canadian Housing Starts. Estimate 211K. Actual 216K
  • 8:30 Canadian NHPI. Estimate 0.1%. Actual 0.0%
  • 8:30 US Unemployment Claims. Estimate 236K
  • Tentative – US Mortgage Delinquencies
  • 10:30 US Natural Gas Storage. Estimate -116B
  • 12:45 BoC Senior Deputy Governor Carolyn Wilkins Speaks
  • 13:01 US 30-year Bond Auction

Friday (February 9)

  • 8:30 Canadian Employment Change. Estimate 10.3
  • 8:30 Canadian Unemployment Rate. Estimate 5.8%

*All release times are GMT

*Key events are in bold

USD/CAD for Thursday, February 8, 2018

USD/CAD, February 8 at 8:00 EDT

Open: 1.2668 High: 1.2598 Low: 1.2550 Close: 1.2590

USD/CAD Technical

S3 S2 S1 R1 R2 R3
1.2190 1.2351 1.2494 1.2630 1.2757 1.2855

USD/CAD inched lower in the Asian session and has posted small gains in European trade

  • 1.2494 is providing support
  • 1.2630 is the next resistance line
  • Current range: 1.2494 to 1.2630

Further levels in both directions:

  • Below: 1.2494, 1.2351, 1.2190 and 1.2060
  • Above: 1.2630, 1.2757 and 1.2855

OANDA’s Open Positions Ratio

USD/CAD ratio is showing  movement towards short positions. Currently, long positions have a majority (53%), indicative of trader bias towards USD/CAD continuing to move upwards.

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.

Weekly FX Market Update – 6 February 2018 (Video)

It’s been an extremely turbulent 24 hours in the financial market with the Dow recording its largest ever daily points drop as panic set in and traders tried to work out what was triggering such a strong sell-off. Markets have stabilized a little on Tuesday but there remains some concern among traders which continues to weigh.

Senior Market Analyst Craig Erlam talks about what he thinks has triggered such a move and goes through this week’s other key events in the markets.

He also gives his live analysis on EURUSD (18:08), GBPUSD (20:02), EURGBP (22:12), AUDUSD (23:32), USDCAD (25:10), GBPCAD (27:16), NZDUSD (28:54), USDJPY (30:58), GBPJPY (32:53) and EURJPY (34:12).

DAX Recovers After Falling to 5-Month Low

Beware: FX Space is Calm, But Appearances Can Be Deceiving

Plop Plop Fizz Fizz Oh What a Relief it is