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USD, EUR/USD, USD/CAD, Crude Oil, Dow Jones Analysis: COT report

Bears were busy last week as they piled into shorts against EUR/USD and the Dow Jones, and also reached a record level of net-short exposure to the Canadian dollar. And this was beneficial for USD bulls.

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USD/CAD forecast: Investors eye BOC and ISM PMI ahead of NFP

Today, we will have the ADP private payrolls data and the latest ISM services PMI, and the Bank of Canada's rate decision, all coming ahead of the official US jobs report on Friday. These macroeconomic events could set the dollar’s trend for the coming days , putting the USD/CAD forecast under the spotlight.

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June 5, 2024 11:55 AM
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USD/CAD forecast: Currency Pair of the Week – June 3, 2024

It will be a busy week for the greenback with lots of top-tier data releases to come, starting with the ISM manufacturing PMI on Monday. Among major currency pairs, the likes of the USD/CAD will be quite volatile with the Bank of Canada also expected to make a rate announcement in mid-week.

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Forex Seasonality – June 2024: Potential for EUR/USD and AUD/USD Rallies, USD/CAD Drop

June has historically been the 3rd-best month of the year for EUR/USD and AUD/USD - will we see strength this year?

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Canadian Dollar Forecast: USD/CAD Bounces from 1.3600 Support, Key Data Looms

USD/CAD bulls are likely to emerge to defend the 1.3605 level, potentially leading to a bullish breakout from the descending channel and opening the door for a move back toward 1.3800.

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USD/CAD outlook: Canada’s CPI cements BOC June cut expectations

USD/CAD outlook: Despite softer Canadian CPI data, could the pair drop anyway? While Fed officials maintain a hawkish rhetoric amid sticky inflation signs, weakening data suggests US policy could be loosened sooner. Meanwhile, the USD/CAD remains inside a short-term bearish channel even if a key bull trend has been supported for now.

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May 21, 2024 05:00 PM
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USD/CAD catches a bid ahead of Canadian inflation report

The pullback from April's high has seen USD/CAD find support around 1.36 but, with CAD traders remaining heavily net short, USD/CAD needs to rally to justify their bearish exposure.

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May 21, 2024 04:12 AM
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USD/CAD outlook dims as US data deteriorates further

The USD/CAD was back at the point of origin of Wednesday’s breakdown at 1.3630-1.3650 area. Could we see the Loonie head lower from here? This week’s disappointing US data certainly point to a dimmer USD/CAD outlook.

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May 16, 2024 03:50 PM
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USD/JPY, USD/CAD, AUD/USD key levels into Nonfarm Payrolls (NFP)

The US dollar fell for a second day after the Fed closed the door on any further hikes. And that places today’s nonfarm payroll report (NFP) into focus. But given NFP’s tendency to beat estimates in recent history, perhaps the US dollar could be setting itself up for a bounce. We take a look at key levels for US dollar index, USD/JPY, USD/CAD and AUD/USD.

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May 3, 2024 08:01 AM
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Forex Seasonality – May 2024: Pullback Potential in EUR/USD and GBP/USD?

May has historically been the second-worst month for EUR/USD (-0.62%) and GBP/USD (-0.37%) - see what to watch for from the other major currency pairs!

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USD/CAD analysis: Canadian CPI in focus for BOC clues

With the odds of a Fed cut arriving this year now in jeopardy, it is now over to the BOE, ECB or BOC to take the title as ‘first to begin easing’. And that brings Canadian CPI data into focus today for CAD traders.

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Forex Seasonality – April 2024: GBP/USD’s Most Bullish Month, USD/CAD’s Most Bearish

GBP/USD has historically seen its strongest gains in April, while USD/CAD has seen its worst performance in April and is testing resistance at its 4-month highs near 1.3600.

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USD/CAD weekly forecast: Pair could rise further with CAD CPI, Fed rate decision due

USD/CAD rose last week and could extend those gains towards 1.36 as attention turns to Canada CPI and the Federal Reserve monetary policy meeting.

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March 17, 2024 08:00 PM
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USD/CAD analysis: Currency Pair of the Week – March 4, 2024

The US dollar is steady after Friday’s drop. We have BOC rate decision, Powell testimony and NFP jobs report among the macro highlights for this week.

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USD/CAD falters at 1.36 ahead of ISM, BOC, NFP

Looking through the economic calendar reveals a jam-packed list of potential market-moving events for USD/CAD.

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March 4, 2024 05:36 AM
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Forex Seasonality – March 2024: USD/JPY Gains, USD/CAD Falls in March

USD/JPY and USD/CAD could see noteworthy moves this month if history is any guide - read on to see the full data!

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USD/CAD analysis: Currency Pair of the Week – February 19, 2024

The USD/CAD will be among the busier of major currency pairs in what will likely be relatively quieter week, at least in so far as macro data is concerned. Given the closure of US markets for Presidents' Day and the majority of major data releases already published in preceding weeks, the week ahead will present few noteworthy macroeconomic highlights, aside from a select few.

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US dollar forecast: Seeking breakouts on USD/JPY, USD/CAD

Without top-tier economic data scheduled, I suspect market conditions likely favour technical analysis over the foreseeable future whilst a pullback on USD plays out.

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February 7, 2024 03:46 AM
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USD/CAD analysis: Currency Pair of the Week – February 5, 2024

NFP, Powell and FOMC all paint a bullish US dollar story. This week's data highlights are ISM services PMI and monthly jobs report from Canada. The USD/CAD technical analysis point to bullish break above 1.35 handle.

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EUR/USD, AUD/USD, USD/CAD forecast: A forex major overview

We’re seeing quite a mixture of signals across forex majors, which implies the US dollar could perform well against some currencies but not all. AUD/USD and USD/CAD look vulnerable to USD strengthen, whereas EUR/USD has some key support level propping it up.

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January 30, 2024 01:26 AM
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USD/CAD, Crude Oil Forecast: USD/CAD Rally Pauses as WTI Breaks Out

WTI Crude Oil is rallying as the IEA revised its 2024 oil demand growth forecast up to 1.24M bpd amidst ongoing tensions in the Middle East.

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January 18, 2024 06:53 PM
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USD/CAD technical analysis: How to trade the Loonie

In this brief article, I will discuss what levels to watch and how to trade the Loonie.

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January 10, 2024 05:00 PM
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NFP Preview: USD/CAD Bounce Nears 1.3385 Resistance Ahead of Jobs Reports

The leading indicators point to a stronger-than-expected reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 175K-225K range