Quick pop up to 1.0247 in USD/CAD but then right back to 1.0236. The choppy move is a reminder that Canada is closed today for a bizarre holiday that honors Queen Victoria’s birthday. Expect more air pockets in CAD trades … Continue reading
The USDCAD is back into the channel after accelerating the trend higher on the move above topside trend line yesterday afternoon (see red area) and into the Asian session today (highest level reached since January 16th). The move back into … Continue reading
USD/CAD is testing the 1.0157 session high after a slide to 1.0125 at the bottom of the hour. Corporate accounts are on the offer so it will be slow going on a move upward. I see considerable upside in this … Continue reading
USD/CAD catching some upside momentum and threatening the overnight high of 1.0129 as stocks slide. I was skeptical of the USD/CAD break to the downside because it wasn’t confirmed by copper but now everything is aligned for a further USD/CAD … Continue reading
A close above 1.0052 and it’s off to the races. The falls in copper, base metals, oil and stocks confirm the latest move. I have been waiting for the break for a long time and I think this is it.
The market is smitten with today’s blockbuster Canadian jobs report but it looks like it has gotten ahead of itself. The probability of a BOC rate hike at the June 5 meeting in the OIS market is up to 29% … Continue reading
The awe-inspiring Canadian jobs report will keep the lid on USD/CAD unless the US stock market takes an absolute beating today. A fall below 0.9976 would confirm the downside.
I see a case for a quick buck in USD/CAD shorts based on a rebound in stocks and oil. USD/CAD is the most-correlated trade with the S&P 500 so far this year with a negative correlation of 0.777 which has … Continue reading
Sorry Chris in Sweden, seems there’s someone else trading CAD as well as you…!. Hearing the Bk of Korea maybe behind this recent blip up to 1.0028.. Some tech resistance above lying at the 200 day MA around 1.0058, and support … Continue reading
If markets are going to break down, they will all do it together. USD/CAD is flirting with a three-month high. The market has grown comfortable with this range and there was talk about big offers yesterday up to 1.0060 so … Continue reading