Analytics

The Canadian dollar has been under pressure after the recent disappointing Canadian jobs report. Where next for the loonie and the Bank of Canada? Here is their view, courtesy of eFXdata: CIBC Research discusses its reaction to today’s Canadian jobs report for the month of November. “Canada’s labor market took more than a breather in…

The Federal Reserve is set to leave its interest rate unchanged after slashing it in its past three meetings. The world’s most powerful central bank will provide guidance via its dot-plot – forecasts for growth, employment, inflation, and most importantly, interest rates. Jerome Powell, the Fed Chairman, will address the press afterward and may cause…

GBP/USD has been on the back foot amid PM Johnson’s scandal and weak data. The Conservatives’ lead should be sufficient to win, and that may boost the pound.  Tuesday’s four-hour chart is upbeat for sterling.  Ignoring the suffering of a sick boy sleeping on a hospital floor – is probably not the best day on…

Green shoots in the euro-zone economies support the common currency. Optimism that the US and China avoid another escalation has been weighing on the dollar. Tuesday’s four-hour chart is also cautiously supporting the bullish case. “Don’t contain yourself” – This slogan by a large telephone producer may be what many EUR/USD are feeling. Markets are…

GBP/USD has surged to around 1.3050 as investors begin pricing in a Conservative victory. US data and further election developments may weigh. The daily chart allows for viewing the next levels. Has Boris Johnson’s campaign already succeeded? Pound bulls seem to think so, pushing GBP/USD to 1.3063 – the highest levels since May. While Labour…

EUR/USD has been retreating from the highs amid worsening Sino-American relations. Top-tier US figures and further trade headlines are eyed. Wednesday’s four-hour chart is pointing to further gains.  A deal can wait until after November 2020 – that is precisely the opposite of what financial markets wanted to hear from US President Donald Trump. The safe-haven US…

GBP/USD has been advancing amid favorable opinion polls and weak US data. President Trump is visiting the UK and may intervene in the campaign. Tuesday’s four-hour chart is pointing to further gains. Too little, too late – that is the impression that many market participants have when seeing Labour’s improvement in opinion polls. Investors prefer a victory for…

Dollar/CAD has been looking for a new direction ahead of the rate decision by the Bank of Canada. Here is their view, courtesy of eFXdata: Credit Suisse discusses USD/CAD technical outlook and maintains a tactical bullish bias against a move below 1.354 in the near-term. “USDCAD remains capped as expected at resistance from the downtrend from…

EUR/USD has been gaining ground amid weak US figures and a lack of dovishness from Lagarde. Concerns about trade relations and comments from ECB speakers may limit further advances. Tuesday’s four-hour chart is showing overbought conditions.  is alive and also kicking – long days of low  have come to an end with the biggest daily move since…

The Bank of Canada is unlikely to cut interest rates but the loonie is struggling to gain ground. Where next? Here is their view, courtesy of eFXdata: CIBC Research discusses USD/CAD outlook and expects a move towards 1.31 into year-end before rallying through 1.38 next year.  “We expect USDCAD to remain rangebound in the near-term. Looking…