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Article / 1 hour agoCanadian GDP data leads to a drop in USDCAD, squeezing stale long dollar positions in the process.Read the article
Article / 3 hours ago
FX Board: SEK storms higher, USD spins wheelsThe market refuses to take a persistent view on the US dollar at the moment, probably until at least the other side of the US employment data on Friday. Meanwhile, SEK has accelerated higher after already notable recent strength.Read the article
Article / 4 hours ago
FX Noon: Apparently the week in FX is all back loaded, so we wait...German retail sales data was ever so healthy this morning, while the Reserve Bank of Australia sat on its hands overnight. Otherwise it’s been another one of those horribly quiet market days in the absence of any real news or flows to influence price action. This afternoon only sees us looking out for CADGDP as data of any real note and the risk here is for a softer print giving CAD bears further impetus to sell more of the Loonie.Read the article
Article / Yesterday at 8:55 GMT
FX Update: RBA likely to cut rates tonightThe US dollar rally late last week impressed, and this week tells us whether the usual first week of the month data can stand in the rally’s way. Tonight, look for an RBA cut to continue to apply the pressure on a weak AUD.Read the article
Trade view / Yesterday at 8:17 GMTDay trade
Corrective gains to continue in USDCADBreaking down to the daily chart and the formation can either be seen as a descending triangle formation of a channel (flag). Both have an eventual bias to break lower but with ample room for buying before sellers return. We can also see reversing daily candles inside this formation.Read the Trade View
Article / Friday at 16:05 GMT
When will the Bank of Canada make up its mind?The month is ending with a tug-of-war between month-end portfolio rebalancing flows and short term US dollar demand. In Canada, the loonie is trading nervously as the Bank of Canada's interest-rate intentions are far from clear.Read the article
Article / Friday at 1:00 GMT
Boy Scouts' motto of 'be prepared' is a salutary lesson for tradersPreparation is crucial when it comes to forex trading, especially as the vast majority of retail traders in this space lose money. To give yourself a headstart, it is important to read as much as possible about the market, including on the many pitfalls and mistakes. Particular attention should be given to risk management strategies and the need for patience and discipline.Read the article
Article / Thursday at 12:46 GMT
FX Noon: Is price discovery just a distant memory?The onwards march of the algos and the market's increasing preoccupation with snippets of sound means the ancient art of price discovery has all but faded into oblivion. And while we have had a bunch of data this morning and a bunch more is on the agenda this afternoon, it would take something really surprising to jerk this market out of its stupor.Read the article
Trade view / Thursday at 8:10 GMTShort term
Further downside in USDCAD targeted as pair lingers under key averageThe negative sentiment in USDCAD highlighted by Tuesday’s Inverted Hammer extended yesterday. A second down day in a row cemented prices beneath that 13-day moving average. The scope of the turn in USDCAD means sentiment is oversold but currently there is no sign of anything other than temporary intraday rallies.Read the Trade View
Squawk / Thursday at 7:03 GMTUSDCAD Threat of a Top!!
A still more significant erosion (from a new rebound peak, 1.2665), through 1.2418 has switched the focus back to key support.
We now see a growing threat for a break of 1.2352 to signal a top and more neutral range theme, but then also below here for 1.2313, through which sees a more bearish shift.
For Today: We see a downside bias for 1.2402 and below to test stronger foundations at 1.2361/52. We look for this area to hold, but surrender targets 1.2313.
A taster of the report above. To view the full USDCAD report with screencasts, levels and more, click here http://ow.ly/JFjq3
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