Canadian Dollar Rate Forecast: CAD Slips On Housing Data, Outlook Positive

Canadian Dollar Rate Forecast Key Takeaways: USD/CAD Price Forecast: Pullback to 200-DMA may provide a shorting opportunity Multiple fundamental factors backing Bullish technical view on CAD IG UK Client Sentiment Highlight: Retail long activity jumps, bias for downside emerges The risks that were causing traders to price out Bank of Canada rate hikes seem to […]

Bearish Canadian GDP Print Fails to Push Loonie In Either Direction

– Canadian annualized GDP grew at a decelerating pace in the 4th quarter: 1.7% vs 2.1% estimated – Household consumption exhibits signs of weakness while investment remains strong – USDCAD doesn’t hold onto gains has Loonie trades narrowly – See the DailyFX Economic Calendar for upcoming economic data and for a schedule of live coverage […]

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USD/CAD Testing Resistance Ahead Dueling US & Canadian Jobs Data

Talking Points USD/CAD Longs at risk ahead of key US/Canada data prints Updated targets & invalidation levels Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET) USDCAD 120min Technical Outlook:USDCAD is testing near-term channel resistance & heading into the close of the […]

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Canadian Dollar Remains Weak Thanks to Oil Decline, Data Generally Soft

Fundamental Forecast for USD/CAD: Bullish – USD/CAD has rallied towards the top of a six-month range but further weakness may lie ahead – Canadian unemployment data posts significant beat, stabilizing Loonie. – Fed rate decision, oil inventories on Wednesday likely to drive oil, with repercussions for USD/CAD. The Canadian dollar has been range bound for […]

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Canadian Dollar Whipsaws as BoC’s Poloz Clarifies Misunderstanding

Talking Points The Canadian Dollar rallied then stumbled after BOC Governor Stephen Poloz spoke Stephen Poloz said that their best strategy for the time being is to wait for the next 18 months Following the announcement, Poloz clarified that the comment was not aimed at monetary policy Having trouble trading the Canadian Dollar? This may […]