Currency Newswire » USD CAD

US Dollar Canadian Dollar Exchange Rate Forecast

admin — Thu, 04 Nov 2010 21:28:56 +0000

Longer-term studies seem to be suggesting that the market is in the process of carving out a major base, with a fresh higher low now sought out by parity ahead of the next major upside extension beyond 1.3000. At this point however, will need to see a break back above 1.0850 to encourage the recovery prospects and accelerate gains. In the interim, any setbacks below parity should be viewed as a formidable opportunity to build on longs, with only a monthly close back below parity giving reason for concern.

The struggles of the U.S. economy has started to weigh on the outlook for Canadian interest rates as the BoC has put the brakes on their tightening policy as they look to assess the impact of weaker demand from its main trading partner on their economy.

Read more about the Canadian dollar…

Loonie Nearing Bottom of Its Long-Term Range

admin — Wed, 03 Nov 2010 03:06:54 +0000

For the range-bound trader, the USD/CAD pair has been a delight for the last year or so. FX traders love a predictable currency pair, and have found one in the USDCAD.

The pair has been stuck between “parity” and the 1.07 handle since the latter half of 2009, and simply cannot gain traction to get either above or below the out barriers of the above mentioned range.

For FX traders, this is akin to playing a game of “ping-pong”, buy at 1.000 and sell at 1.0700. Set ups like these should be considered working until they stop.

Read more about the Loonie…

Commodities Lift Canadian Dollar

admin — Tue, 02 Nov 2010 05:37:45 +0000

The Canadian dollar closed higher Monday, receiving a lift from higher commodity prices even as the U.S. dollar strengthened ahead of an announcement from the U.S. Federal Reserve on new stimulus measures.

The loonie closed up 0.4 of a cent at 98.42 cents (U.S.) at the start of what is likely to be a volatile week with the U.S. midterm elections on Tuesday, the release of the Fed announcement on Wednesday and the October non-farm payrolls report on Friday.

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Canadian Dollar Benefits from Greenback’s Slide

admin — Fri, 29 Oct 2010 04:25:45 +0000

The Canadian dollar (CAD/USD-I0.980.0070.70%) made strong headway Thursday, rising more than two-thirds of a U.S. cent as commodity prices rose and the U.S. dollar resumed its downward slide.

The currency closed up 0.69 of a cent at 97.9 cents (U.S.).

The loonie had fallen the previous two sessions amid volatility on currency markets ahead of next Wednesday’s interest rate announcement by the U.S. Federal Reserve.

Read more about the Canadian dollar…

USD/CAD Hits Fresh Daily High

admin — Tue, 26 Oct 2010 21:52:30 +0000

The U.S. dollar was up against its Canadian counterpart on Tuesday, rising to a fresh daily high as risk aversion increased following the release of worse-than-expected U.S. housing data.

USD/CAD hit 1.0266 during European afternoon trade, a fresh daily high; the pair subsequently consolidated at 1.0246, advancing 0.47%.

Read more about USD/CAD…

USD/CAD Fails to Hold Above 1.0200

admin — Tue, 26 Oct 2010 00:01:39 +0000

The Loonie is consolidating gains against the Dollar on Monday. USD/CAD failed to hold above 1.0200 during the American session and pulled back to 1.0180.

USD/CAD Hits Fresh Lows

admin — Wed, 20 Oct 2010 21:35:55 +0000

USD/CAD reached fresh daily lows as the Greenback weakened across the board. The pair fell below 1.0265 and has bottomed so far at 1.0240 but remains under pressure and is trading near daily lows.

Read more USD and CAD…

USD/CAD Skyrockets Passed 1.0350

admin — Tue, 19 Oct 2010 22:08:30 +0000

FXstreet.com (Barcelona) – The Loonie took a harsh beating against the US Dollar on Tuesday, after extreme risk aversion conditions triggered by China’s rate hike, allowing the Greenback to rally against all its major rivals.

Read more about USD and CAD…

USD/CAD Up Toward the End of U.S. Session

admin — Mon, 18 Oct 2010 20:41:56 +0000

The U.S. Dollar was higher against the Canadian Dollar on Monday after the release of U.S. data on Industrial Production.

USD/CAD was trading at 1.0144, up 0.39% at time of writing.

The pair was likely to find support at 0.9980, Thursday’s low, and resistance at 1.0228, today’s high.

Earlier in the day, official data showed that U.S. industrial production fell unexpectedly to -0.20% last month, from 0.20% in the preceding month.

Read more about USD and CAD…

USD/CAD Hits Fresh Daily High

admin — Thu, 14 Oct 2010 17:15:11 +0000

FXstreet.com (Córdoba) – The Canadian Dollar erased previous gains against the Greenback and now is falling on a daily basis, retreating from 5-month highs. USD/CAD is testing levels above 1.0050, trading at daily highs. The pair moved further away from the lows following the Wall Street opening and regained the upside, after finding support at 1.0025.

USD/CAD Breaks Below 1.0150

admin — Fri, 08 Oct 2010 22:54:37 +0000

FXstreet.com (Córdoba) – USD/CAD was rejected again from levels above 1.0200 and turned to the downside falling more than 70 pips from daily highs. The pair reached a fresh session low at 1.0139 and currently trades below 1.0150, previous support zone.

Read more…

Forex: USD/CAD Falls to 1.0150

admin — Wed, 06 Oct 2010 03:29:34 +0000

FXstreet.com (Córdoba) – The Dollar is falling sharply on Tuesday against commodity currencies and holds near daily lows. USD/CAD broke below 1.0180 and tumbled to 1.0150 hitting the lowest price since August 6.

Read more…

USD/CAD –- Stand Aside

admin — Mon, 04 Oct 2010 20:26:36 +0000

Although the greenback dropped below previous support at 1.0191 (we sold on break of this level), lack of follow through selling and the subsequent rebound from 1.0180 suggest consolidation would be seen, however, only above 1.0280/85 (61.8% Fibonacci retracement of 1.0345 to 1.0180) would suggest low is possibly formed and bring stronger rebound to 1.0320/25 later.

Looking ahead, it is necessary to see a break of resistance at 1.0380 would signal recent fall has ended as the d leg and bring a stronger rebound later this week.

Read more…

USD/CAD Finds Resistance at 1.1556

admin — Mon, 22 Jun 2009 17:55:39 +0000

The USD/CAD advance in today’s session has encountered resistance at 1.1556, a fresh 1-month high after climbing around 200 pips since the early European session from 1.1360 to 1.1556. Read more…

USD/CAD Bounces at 1.1250 and Tests 1.1300 After Canadian Retail Sales

admin — Fri, 19 Jun 2009 14:21:11 +0000

USD/CAD has bounced at the 1.1250 level to rise above 1.1280 and test 1.1300 resistance, fueled by worse than expected Canadian retail sales in April. The currency pair rose 50 pips after the data was released, moving to 1.1290/1.1300, yet 0.25% below today’s opening price. Read more…

USD/CAD Finds Support at 1.1235

admin — Thu, 18 Jun 2009 17:04:30 +0000

The USD/CAD’s decline from a 1.1365 intra-day high has found support at 1.1235 in the American session after falling 130 pips since the European morning. Currently, the pair is trading around 1.1270/80, yet in the negative daily field, trading 0.15% below today’s opening price. Read more…

USD/CAD Breaks 1.1300 and Posts 1.1350, Fresh June High

admin — Mon, 15 Jun 2009 16:17:03 +0000

USD/CAD has broken the 1.1300 level in the European session, and it has posted 1.1350 as a new June high after rising 1.30% so far today from the 1.1205 opening price action in a 150-pip increase in movement. Currently, the pair is trading at around 1.1335/45.

Last week, USD/CAD declined 0.12% after opening at 1.1198 on Monday and closing at 1.1178 on Friday. The pair reached 1.1291 at its highest and 1.0942 at its lowest. Read more about USD and CAD…

Chart of the Day: USD/CAD (Daily FX via Yahoo! Finance)

admin — Tue, 09 Jun 2009 15:43:24 +0000

The USD weakness appears to be increasing this morning with the USD/CAD moving down on the 4-hour chart. This is really an oil play as this pair has a tendency to fall as the price of oil rises.

Forex: USD/CAD rises to test 1.1250 after rebounding from 1.1175 (The Forex Market)

admin — Tue, 09 Jun 2009 02:47:37 +0000

FXstreet.com (Barcelona) – After rebounding at 1.1175, coming from its 125 pips declines from 1.1290, fresh 1-week high, the USD/CAD has risen around 75 pips to test 1.1250 levels in the American session. Currently the pair is trading around 1.1225/35, 0.35% above today’s opening price action.

Forex: USD/CAD tests 1.1040 resistance after Canadian unemployment data (The Forex Market)

admin — Fri, 05 Jun 2009 16:50:12 +0000

FXstreet.com (Barcelona) – The USD/CAD has reacted with a 30 pips jump in the first seconds after the worst than expected May Unemployment Canadian data from 1.1010 to test 1.1040. After that, the CAD has begun to recover slightly to initials levels and the USD/CAD is currently trading around 1.1015/25,0.25% above today’s opening price.