Tag Archives: USDCAD
Canadian Dollar Slips Following Powell’s Speech
The Canadian dollar slipped against its U.S. counterpart on Monday as Federal Reserve Chair Jerome Powell tempered expectations for another substantial interest rate cut. However, the Loonie managed to retain much of its quarterly gains. USDCAD was down 0.1% at 1.3530 on Monday, with the currency losing 0.3% for the month but posting a 1.1% […]
Focus on USDCAD today – 4th SEP 2024
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the USDCAD for SEP 4, 2024. Key Takeaways Technical Analysis Daily Chart Insights (USD/CAD Daily Price Chart, Source: Ultima Markets MT4) H1 Chart Insights (USD/CAD H1 Price Chart, Source: Ultima Markets MT4) Pivot Indicator (USD/CAD M30 Price Chart, Source: Ultima Markets APP) Conclusion […]
Oil Price Soar, Boosting Canadian Dollar
On Monday, oil price surged 2.92%, closed at $77.10 per barrel, marking its largest gain in two weeks. This surge was primarily driven by the Libyan government’s declaration of force majeure on all oil facilities in Benghazi, which threatens to significantly disrupt global oil supply. (US Oil Daily Price Chart) In addition, rising tensions in […]
Canadian dollars weaken as July Inflation cools
On Tuesday, Canada’s annual inflation rate dropped to 2.5% in July, aligning with expectations. Despite this, the Canadian dollar weakened slightly, though USD/CAD slipped 0.1% to close at 1.3620, which was influenced by the significant weakness in the U.S. dollar due to expectations of a potential interest rate cut. (USD/CAD Daily Price Chart) The current […]
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 […]