Tag Archives: USD/CAD
FX Monthly: Who’s afraid of the big, bad cliff?
We expect USD strength to persist into year-end, aided by relative economic outperformance and the sbsence of QE3. Our base case of a compromise on the impending fiscal cliff is consistent with limited Fed easing.
Interesting USDCAD set-up
An interesting trade setup in USDCAD, which it appears must make a directional soon as it trades close to the 200-day moving average.
Global Technical Watch – Quick Charts
Yesterday, S&P 500 futures backed away from support near 1320, as did EUR/USD from the psychological 1.20 level. These important hurdles are unlikely to give way without a near-term struggle. As a result, several EUR crosses took the opportunity to stage a short-term bounce.
Daily FX Technical Strategy – One down, more to follow?
As yields in Italy and Spain start to rise sharply the spotlight appears to be shifting onto classical “risk” indicators. Yesterday NZD/USD completed a Head and Shoulders top and over the rest of the week we are watching to see whether other indicators like the AUD/USD and S&P500 follow the NZD’s lead.
Global Technical Watch – Quick Charts
The initial bearish signs, such as the Reversal Day in AUD/JPY we noted earlier this week, are snowballing. Further JPY gains are likely across the board, especially as US 10y yields threaten trendline resistance near 1.36%.
Daily FX Technical Strategy: A shot across the bows
The move in Spanish yields yesterday was a shot across the bows for Risk. While the prospect of contagion within the eurozone has risen with 10y Italian yields gapping higher out of range, yields outside Spain have not yet reached levels where the rise becomes self sustaining.
Daily FX Technical Strategy: Pushing the boundaries
As we move deeper into the summer holiday doldrums, the major FX markets are drifting within clearly defined ranges. However, things are slowly coming to a head.
Technical Analysis
EURUSD is still in its correctional drift higher, but it is likely to end soon with Spanish 10y yield (& spread to Germany) fast rising/widening… This is also good news for Bunds, soon breaking the recent 145.97 high…
Technical Analysis
Commodity FXers (AUD, NZD & CAD) are standout winners together with SEK and a little surprisingly also JPY… The latter has violated a 78.61 “B-wave low” which suggests extension to/below 77.65
Technical Analysis
EUR/SEK likely headed into a fresh yearly low… EUR/USD Yet another buyers’ response… EUR/GBP Time ripe for a bounce higher… USD/CAD Extending the correction lower…
Daily FX Technical Strategy: Spotlight stays on the euro
The release of US non-farm payrolls this afternoon is likely to be the primary focus of the FX markets today but it is the weakness of the euro that continues to hold our attention.
USD/CAD Analysis
Like its commodity cousin, the AUD, the loonie is also reasonably buoyant on the day, despite overall dollar strength. Dollar-Canada holds at C$1.0131, a bit below its 55-day moving average, at C$1.0140 Thursday.