Tag Archives: CAD

The Canadian dollar achieved noticeable gains during last week’s trading, within the expected bullish path, after it succeeded in breaching the resistance level 1.2710, to reach the highest level at 1.2787. Technically, and carefully looking at the 240-minute chart, we note the current negativity features that started appearing on the …

Data released on Friday, showed the Canadian economy lost 200K jobs in January, more than expected. Analysts at CIBC point out most of the decline came from industries affected by tightening health restrictions and the numbers should not alter the plans of the Bank of Canada (BoC) of raising rates …

Canada’s unemployment rate has surged to 6.5%. Many businesses closed up shop in January due to the spread of the Omicron variant, which resulted in the loss of work for hundreds of thousands of Canadians. Canada’s economy lost 200,000 jobs last month, according to Statistics Canada, as COVID-19 shutdowns related …

The latest batch of Canadian employment data will hit the markets on Friday. So far, it looks that the Omicron wave hit the labour market in January, with forecasts pointing to a drop of jobs. This is probably a temporary setback. The loonie has been driven mostly by risk sentiment …

The USD/CAD has traded in a relatively directionless fashion on Thursday, initially strengthening towards above 1.2700 as the Canadian dollar weakened in tandem with an earnings-driven downturn in global equities, but more recently dropping back to the 1.2675 area on rising oil prices.At current levels, the pair is back to …

Narrow sideways trading dominates the movements of the Canadian dollar for the third consecutive session, between 1.2660 and 1.2700 without any change in the technical outlook. Technically, and by looking at the 4-hour chart, we notice positive attempts that started appearing on stochastic to get more bullish momentum, in addition …

The US trading session closed on Wednesday with mixed results, most notably the decline of the US dollar and the New York Stock Exchange at the same time due to negative employment data.Economic dataThe reading of the index of change in employment in the non-agricultural sectors in the United States …

Bank of Canada Governor Tiff Macklem on Wednesday said that there is some uncertainty about how quickly inflation will come down due to the unique nature of the COVID-19 pandemic, which has helped drive up prices. However, Macklem added that the bank is confident that inflation will eventually come down, …

The technical outlook is unchanged, and the movements of the Canadian dollar did not change for the second consecutive session, trying to maintain its trades above the support level of 1.2660. Technically, and by looking at the 4-hour chart, we notice positive attempts that started appearing on stochastic to get …

The technical outlook is unchanged, and the pair’s movements did not change significantly, trying to maintain the bullish bias, benefiting from stability above the 1.2665 support level. Technically, and by looking at the 4-hour chart, we notice positive attempts that started appearing on stochastic to get more bullish momentum, in …