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Canadian Dollar Technical Forecast: USD/CAD, CAD/JPY

USD/CAD continues to hold a range inside of a range, but CAD/JPY is bristling at resistance after having set a fresh 16-year high last week.

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Canadian Dollar Technical Analysis: USD/CAD Pulls Back from Key Resistance

The bullish move in USD/CAD has been pronounced after the pair bottomed in July, but now the question of topping starts to come in as a major resistance level has come back into the picture.

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USD/CAD hits resistance ahead of BOC, US PMIs: European open – 06/09/2023

The Bank of Canada (BOC) are expected to hold rates at today’s meeting, given GDP unexpectedly contracted in Q2. Still, implied volatility has spiked higher for USD/CAD. Perhaps the BOC pause will not be as dovish as expected, Fed members tout a hold or the rise of bond yields (and therefore the US dollar) lose steam. If so, USD/CAD may be better for short bets beneath the April highs.

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September 6, 2023 06:25 AM

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European Open: Flash PMI’s and Canada inflation report in focus

CAD/JPY has piqued our interest ahead of today's economic data, which includes PMI's for Europe and the US and Canada's inflation and retail reports.

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February 21, 2023 05:09 AM
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The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.

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The BOC just dropped one of their preferred CPI measures

During a hawkish speech, the BOC governor outlined which of the three ‘preferred’ CPI measures they will no long focus on, and why.

Research

European Open: CAD/JPY holds steady ahead of Canada’s CPI report

CAD/JPY has pulled back to a pivotal support level, and today’s inflation report from Canada could make or break it.

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Yes, inflation may have peak but it “remains far too high”

Sometimes the obvious needs to be said. And that is exactly what the BOC’s deputy governor said in his op-ed by stating inflation “remains far too high”.

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Early signs of (dis)inflation continue to appear

Whilst inflation has been hard to ignore, we are now seeing signs that the cooling of inflationary forces are finally showing up in some consumer prices.

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European Open: WTI in focus for the US and Canada’s employment reports

There’s not a huge amount of data today, which puts the US nonfarm payroll and Canadian employment report into focus as the main calendar event.

Asian Open: Eye-watering CPI data for Canada raises odds of a 75-100 bps hike

Canada’s inflation metrics rise across the board and beat estimates by a wide enough margin to increase the odds of some serious hiking by the BOC in June.

A complete guide to the Bank of Canada and interest rates

As with any central bank, when the Bank of Canada (BOC) changes interest rates, it can have a knock-on effect to stocks, indices and currencies. Find out everything you need to know about the BOC and how it’s decisions impact financial markets.

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April 21, 2021 11:20 AM

Also a good jobs report for Canada

Last Friday was also a good surprise on the jobs front for Canada as 289,600 jobs were added in May.

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June 8, 2020 03:39 AM

BoC keeps rate unchanged

The Bank of Canada has kept its benchmark rate unchanged at 0.25% as expected.

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June 4, 2020 02:46 AM

[Video] USD/CAD: Q1 GDP fell by 8.2%

Official data showed that Canada's first quarter annualized GDP contracted 8.2% on quarter (vs -10.0% expected).

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June 1, 2020 05:50 AM

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[Video] USD/CAD: Significant stimulus will be needed

BoC governor Poloz said "the economy will need significant monetary stimulus in the rebuilding stage".

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May 26, 2020 05:21 AM

[Video] USD/CAD: Inflation on the downside

Canada CPI fell 0.2% on year in April (vs -0.1% expected).

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May 21, 2020 05:37 AM

Canadian Trade Balance is expected

Canadian Trade Balance will be published later today.

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May 5, 2020 03:21 AM
Board of currencies

Triple Whammy for USD/CAD Tomorrow

Three big events, three big chances for volatility in USD/CAD tomorrow.

April 8, 2020 05:28 PM
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BoC Slashes Rates to 0.25%

The market seems to have taken the rate cut as “catching up” to other central banks.

What mattered last week and a preview of the week ahead

What mattered last week: An extreme week of volatility as U.S. equity market fell ~15% as the spread of Covid-19 continued. The impact of Covid-19 via border shutdowns, social distancing measures as well as the obvious impact on health impact presents a huge challenge and likely to result in a recession in several countries. Central banks and governments responded by slashing interest rates, resuming/starting Quantitative Easing (QE) programs and boosting/announcing fiscal stimulus packages.

March 22, 2020 06:20 PM