We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/3yPoDUHnfG
  • #Singapore GDP shrinks most on record as city-state enters a recession #SGD falls, #USD gains #StraitsTimes eyeing support What is the road ahead for $USD/SGD? - https://www.dailyfx.com/forex/market_alert/2020/07/14/US-Dollar-USDSGD-Gain-Singapore-Enters-Recession-on-Record-GDP-Drop.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HvcLpEh6NG
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here: https://t.co/wi1qabrtHJ https://t.co/13qB60OlJV
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/KqeCR8z3Du
  • RT @Reuters: U.S. Senate to begin debate on new coronavirus bill next week: McConnell https://t.co/qPKEV0fLa9 https://t.co/O33B0ITYaa
  • If you issued your own bond as a person (let's say 10y) how high do you think your yield would be?
  • Market snapshot: US equity futures up, #AUD, #NZD down.
  • Singapore Dollar cautiously weakens against the US Dollar following disappointing #Singapore GDP data $USDSGD #SGD https://t.co/7mRV62n82s
  • WOW Singapore Q2 GDP -41.2% on QoQ on an annualized basis. Est: -35.9% - BBG
  • This Singaporean GDP reading for the second quarter does not bode well for the 'rest of world' figures due over the next few weeks. I would not be surprised if China simply 'weathered' this global impact with Thursday's release... https://t.co/HiflgPvptk
Will Canada Employment Spark New Lows in USD/CAD & Alter BoC Policy?

Will Canada Employment Spark New Lows in USD/CAD & Alter BoC Policy?

2014-07-11 07:00:00
David Song, Strategist

- Canada Employment to Increase Another 20.0K in June .

- Jobless Rate to Hold at an Annualized 7.0% for Second-Month.

Trading the News: Canada Net Change in Employment

Another 20.0K rise in Canada employment may trigger fresh monthly lows in the USD/CAD as it limit’s the risk of seeing the Bank of Canada (BoC) further embark on its easing cycle.

What’s Expected:

USD/CAD Canada Employment

Why Is This Event Important:

An upbeat job report may spur a material shift in the policy outlook as BoC Governor Stephen Poloz scales back his willingness to deliver another rate cut, and the central bank may adopt a more neutral tone for monetary policy as the rise in employment highlights an improved outlook for growth and inflation.

For LIVE SSI Updates Ahead of Canada’s Employment Report, Join DailyFX on Demand

Expectations: Bullish Argument/Scenario




Housing Starts (JUN)



Building Permits (MoM) (MAY)



Retail Sales (MoM) (APR)



The pickup in household spending along with the expansion in building activity may pave the way for a positive employment print, and a pickup in job growth may heighten the appeal of the Canadian dollar as it raises the BoC’s scope to normalize monetary policy sooner rather than later.

Risk: Bearish Argument/Scenario




Business Outlook Future Sales (2Q)



Ivey Purchasing Manager Index s.a. (JUN)



Gross Domestic Product (MoM) (APR)



However, the data print may fall short of market expectations as businesses confidence wanes, and a dismal jobs report may generate a larger correction in the USD/CAD as it drags on interest rate expectations.

For more updates, sign up for David's e-mail distribution list.

How To Trade This Event Risk(Video)

Bullish CAD Trade: Core Inflation Rises 1.5% or Greater

  • Need red, five-minute candle following the CPI report to consider short USD/CAD entry
  • If the market reaction favors a bullish Canadian dollar trade, establish short with two position
  • Set stop at the near-by swing high/reasonable distance from cost; use at least 1:1 risk-to-reward
  • Move stop to entry on remaining position once initial target is hit, set reasonable limit

Bearish CAD Trade: Canada Price Growth Disappoints

  • Need green, five-minute candle following the release to look at a long USD/CAD trade
  • Carry out the same setup as the bullish loonie trade, just in the opposite direction

Potential Price Targets For The Release


USD/CAD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Fails to Retain Bullish Trend from 2013; Bearish RSI Momentum Favors Lower Highs & Lows
  • Interim Resistance: 1.0820 (61.8% retracement) to 1.0830 (61.8% retracement)
  • Interim Support: 1.0580 (61.8% retracement) to 1.0610 (78.6% expansion)

Read More:

Price & Time: Where Are the Make or Break Levels in the Yen?

USD Continues to Carve Lower-Highs; Broader EUR/USD Range in Focus

Impact that the Canada CPI report has had on CAD during the last month


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)



06/06/2014 12:30 GMT





May 2014 Canada Consumer Price Index (CPI)


Employment increased 25.8K in May after the Canadian economy shed 28.9K jobs the month prior, while the jobless rate unexpectedly up ticked to an annualized 7.0% from 6.9% in April. Despite the better-than-expected print, the U.S. Non-Farm Payrolls (NFP) played a greater role in driving the USD/CAD as the exchange rate climbed to a daily high of 1.0947, but we saw the dollar-loonie consolidate ahead of the weekend as the pair closed at 1.0925.

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.