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Momentum Continues to Support Canadian Dollar
The Canadian dollar continues to be one of the best performers despite broad-based gains by the U.S. dollar and more negative sentiment in financial markets.The risk aversion dominating currency markets is not supporting USD/CAD, as the cross remains under pressure. The Canadian dollar is the second best performer against the U.S. dollar - second only to the British pound - among G10 currencies.The U.S. dollar saw broad gains following higher-than-expected core CPI data. However the rally in
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Forex: GBP/USD falls below 1.4700 after worse than expected US GDP
Fxstreet.com (Barcelona) - GBP/USD is falling after the worse than expected US GDP, the pair has fallen around 40 pips from 1.4740 to test the 1.4700 level. On the day, The pair has risen 0.40% from opening price at 1.4641 to the currently range of 1.4695/1.4505.The US annualized Gross Domestic Product has fallen 6.1% in the first quarter of the year, well below of 5.0% decreases expected bu market but better than 6.3% decreases posted in the previous quarter. GDP
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Sterling Stronger Despite Expected UK Admission of Forecasting Error
The pound sterling is stronger on Monday after the Financial Times published an article suggesting UK Chancellor Alistair Darling is expected to admit to the largest forecasting error in the history of his position.According to the Financial Times, Darling is expected to admit that the recession in the UK is worse than expected, marking the largest forecasting error in the history of his position. The announcement will come on April 22 when his department unveils its budget
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Canadian Dollar Moves Higher as Equities Make Major Gains
The Canadian dollar is moving higher against the greenback as positive sentiment sweeps all asset classes on Thursday morning.USD/CAD has been on a steady decline through the entire trading session, giving up more than 2 cents on the day. The cross has given up most of its gains since March 30 and is now trading below strong support at 1.24 CAD.Currency strategists will continue to look to equity markets for further direction in USD/CAD. Equities received a
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Forex - FOMC kept rate steady at 2% as expected
The Dollar climbed to seven-week peaks against the Euro and major currencies on Tuesday, as oil prices plunged and the Federal Reserve maintained its focus on slowing persistent US inflation pressure in the economy. Analysts said Tuesday's Fed statement was more balanced than what the market had expected, as it expressed concern about both econ
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Canadian Dollar Hits Five-Year Low Following Soft Data and Weaker Stocks
The Canadian dollar continues to lose ground and is trading at five-year lows against the U.S. dollar as domestic data remains weak and North American equities lose more ground.The sell-off in the Canadian dollar started following a weaker-than-expected Canadian housing starts report. The pace of new housing starts in Canada fell for the sixth straight month, posting a 12.3% monthly slowdown and a nearly 46% drop from a year ago, the Canada Mortgage and Housing Corporation (CMHC)
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Canadian Dollar Shrugs Off Stronger-than-Expected CPI Data
Rising inflation in Canada is not providing much support for the Canadian dollar as broader issues dominate currency markets.The Canadian dollar continues to benefit from broad U.S. dollar weakness following Wednesday's FOMC meeting. Following the meeting, the Fed announced that it would expand its balance sheet by almost $1.2 trillion, which includes purchasing $300 billion in longer-term U.S. Treasuries. Domestic data is taking a back seat Thursday morning despite a stronger-than-expected February CPI report. The Bank of
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Forex (foreign exchange) Currency trading
Forex trading (foreign exchange), Currency trading, Daily forex major currency technical analysis. The foreign exchange market (currency, forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. // Issu de la contraction des termes anglais Foreign Exchange, Forex est le surnom universellement donné au marché des changes, sur lequel les devises sont échangées l’une contre l’autre, à des taux de change qui varient sans cesse. Ce marché mondial, qui est essentiellement interbancaire, est le deuxième marché financier de la planète en termes de volume global, derrière celui des taux d'intérêt. C'est néanmoins le plus concentré et le premier pour la liquidité des produits les plus traités, comme la parité euro/dollar.
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