Tag Archives: Canada
Canadian Dollar Rally Stalls on Weak Labor Data and BoC Dovishness
Soft labor data and a dovish outlook for the Bank of Canada (BoC) halted the Canadian dollar’s rally. The loonie traded at 1.374 per USD, down from its August 9th strength of 1.37. Canada’s unemployment rate remained at 6.4%, its highest level in over two and a half years, despite being below market expectations. The […]
Focus on USDCAD today – 24th July, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for July 24, 2024. Key Takeaways Technical Analysis Daily Chart Insights 1-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Focus on USDCAD today – 16th July, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for July 16, 2024. Key Takeaways Technical Analysis Daily Chart Insights 1-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Focus on USDCAD today – 28th June, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for June 28, 2024. Key Takeaways Technical Analysis Daily Chart Insights 1-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Rate Cut Uncertain as Canadian Inflation Rose Unexpectedly
Canada’s annual inflation rate increased to 2.9% in May 2024, up from a three-year low of 2.7% in April. The rise contradicted market expectations of a slowdown to 2.6%. While the inflation rate aligns with the Bank of Canada’s forecast of inflation staying near 3% in the first half of 2024, the halt in the […]
Focus on USDCAD today – 14th June, 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for June 14, 2024. Key Takeaways Technical Analysis Daily Chart Insights 1-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Inflation in Canada Dips to Lowest Level in Three Years, Raising Odds of June Interest Rate Cut
The Canadian Consumer Price Index (CPI), which measures inflation, decreased to an annual rate of 2.7% in April, down from 2.9% in March, according to Statistics Canada’s report released on Tuesday. This figure matched market expectations. The government agency attributed the slowdown in inflation to a deceleration in price increases for food, services, and durable […]
Focus on USDCAD today – 10th May 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for 10th MAY 2024. Key Takeaways Technical Analysis Daily Chart Insights 4-hour Chart Analysis Pivot Indicator Conclusion To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you […]
Bank of Canada Maintains Interest Rates, Adopts Vigilant Stance on Inflation
In the April resolution, the Bank of Canada maintained its key interest rate at 5%, a move that was largely anticipated. The bank avoided suggesting when rate cuts might begin, citing ongoing inflation risks. Despite acknowledging a reduction in price pressures across many goods and services since their last policy meeting, the bank emphasized uncertainties […]
Jobless Numbers Climb in Canada, Fueling Rate Cut Debates
Canada saw its unemployment rate climb to 6.1% in March 2024, an increase from 5.8% the previous month, reaching the highest rate since October 2021 and significantly topping forecasts of 5.9%. The data align with the Bank of Canada’s observations, suggesting that high interest rates are placing considerable strain on the labor market. These figures […]