CAD

Forex Trading: USD CAD Breaking Last Year's High on Daily

Basil Fayad — Thu, 16 Oct 2008 05:57:35 -0400

CLICK IMAGE FOR LARGER PICTURE

uSDCAD is looking to break 1.2121 which is over last year's high at 1.1875 on Feb 8, 2007. Incidentally it is also 100% Fib Level from the move at that high down to .9056 July 11, 2007. An open above this level could signal bullish momentum on the daily for the pair.

Forex Trading News: CAD Employment Report

Alex Chernomordin — Fri, 10 Oct 2008 07:03:48 -0400

The Canadian Employment Reports for September released today came in as follows:

Unemployment Rate- Estimated:6.2% Actual:6.1% Prior:6.1%

Net Change in Employment- Estimated:10k Actual:106.9k Prior:15.2k

A much better than expected employment report all in, the CAD is still showing signs of weakness, not receiving more of a bid on the largest increase in jobs, since the inception of this release. It is important to note that part-time jobs made up 96.6K of the 106.9k increase and full-time jobs accounted for 10.3k.

Forex Trading: USDCAD moves higher as commodities come down

Greg Michalowski — Wed, 08 Oct 2008 13:02:32 -0400

The USDCAD reached a new 18 month high at 1.1256 today. The last time the market was this high was April 2007. The currency sold off today in reaction to the rate cut. However, it is also being sold as the commodites come off.

Below is a chart of the CRB index - a measure of commodity prices - and the USDCAD. As the price of the CRB has declined (left axis and red line) FROM 470 down to the current 307 level, the USDCAD has risen from around par to 1.12 (the right axix and blue line)

Forex Trading News - Canadian CPI Release

Alex Chernomordin — Tue, 23 Sep 2008 07:03:11 -0400

The Consumer Price Index for Canada was releases as follows:

CPI month over month expected at -0.2% came in at -.02%.
CPI year over year expected at 3.5% came in at 3.5%.
Bank of Canada Core CPI month over month expected at 0.1% came in at .3%.
Bank of Canada Core CPI year over year expected at 1.5% came in at 1.7%.

With the core inflation numbers coming in higher than expectations the CAD has received a slight bid across the board, with traders obviously paying attention to the bigger picture.

Forex Trading News - Canadian GDP and Price Data

Alex Chernomordin — Fri, 29 Aug 2008 08:33:37 -0400

The Canadian annualized Gross Domestic Product expected .6% for the 2nd quarter, came in worse than expected at 0.3% on an Annualized basis. The 1st quarter was revised to -0.8%. The month over month reading was on the money at .1% versus the .1% survey.

The lower number increases the chance that the BOC may cut rates at next weeks rate decision meeting It should at least change some of the wording as to the central banks position. This should keep the pressure on the Caandian dollar.

The Industrial Price Index for July expected at .7% came in lower at .4%. The Raw Materials Price Index expected at .2% came in significantly higher at 1.4%.

Forex Trading News - USD/CAD PM Harper on the Wires

Alex Chernomordin — Thu, 28 Aug 2008 11:52:02 -0400

Canadian Prime Minister Harper notes there are no signs of a real recession. He added the following:

Harper adds that income growth is significant; employment is staying at high levels.
2 consecutive quarterly GDP declines are not a recession.
Employment numbers are softening but remaining quite high.

Forex Trading - Canadian Unemployment

Alex Chernomordin — Fri, 08 Aug 2008 07:03:13 -0400

The Canadian Unemployment Rate came in weaker than expected at 6.1% and worse than last month (6.2%), while the Net Change in Employment was -55K the worst reading since Feb of 1991, much worse than the +5K survey. CAD dollars sold off across the board.

Forex Trading: USD/CAD ranging as well, with Oil relatively unchanged...

Michael FX — Mon, 02 Jun 2008 04:13:29 -0400

USD/CAD ranging as well, with Oil relatively unchanged. It's down a little for the day thus far, about -.80 @ 126.54 indicatively.

Forex Trading: USD/CAD looking offered from its down trend line on an hourly...

Michael FX — Thu, 01 May 2008 06:43:51 -0400

USD/CAD looking offered from its down trend line on an hourly. Stochastics as well are nearing negative convergence. Out of all the USD pairs, this appears to be the weakest.

Forex Trading: USD/CAD trying to recover some ground...

Michael FX — Thu, 17 Apr 2008 06:13:07 -0400

USD/CAD trying to recover some ground after such a jagged sell off the other day. Right now, it's consolidating higher, trying to take out some resistance levels above.