News & Analysis at your fingertips.

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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Point 3 is not talked about enough. The bureaucratic - dare I say, Leviathan - in most universities is resulting in tuition prices skyrocketing without adding clear value to the students. https://t.co/WNZIORrfAk
  • Think #amzn will gap higher on Monday after Black Friday and the giant move to online shopping?
  • The exponential moving average (EMA) is a derivative of the simple moving average (SMA) indicator. Compared to the SMA, the EMA weighs recent price changes more heavily than later changes in price. Learn how to incorporate the EMA into your strategy here: https://t.co/w48c0xJXSX https://t.co/xFmhA7ZHqU
  • Traders in the Euro have a big decision to make this weekend: if EUR/USD hits 1.20, will it continue to advance, consolidate or fall back? Get your $EURUSD market update from @MartinSEssex here:https://t.co/8hAhguZcEA https://t.co/kwtatozp3z
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here: https://t.co/Yg6ecRZZNr https://t.co/9SdceNYUEK
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/imv2PnapzH
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:https://t.co/TMcbMALtbw https://t.co/mmldxxEtsc
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:https://t.co/Txo8l8S1f1 https://t.co/YLVzP95JH8
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here: https://t.co/qxnP99uqTQ https://t.co/tGVqSZ2zK3
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/reMoYpqkQO
Canadian Dollar Up on NAFTA Hopes, NZ Dollar Down Before RBNZ

Canadian Dollar Up on NAFTA Hopes, NZ Dollar Down Before RBNZ

2018-03-21 07:00:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

The Canadian Dollar continued to push higher, extending yesterday’s advance. That followed a report from Globe and Mail claiming that the Trump administration has dropped the demand that cars imported from NAFTA countries contain at least 50 percent US-made content. Markets read that to signal a possible breakthrough in renegotiation of the free trade pact.

Meanwhile, the New Zealand Dollar fell ahead of the upcoming RBNZ rate decision. The target cash rate is overwhelmingly expected to remain unchanged but a recent run of disappointing economic data has stoked speculation about a dovish turn in official rhetoric, pushing policy normalization further out into the future. As it stands, futures pricing implies a hike in the third quarter of 2019.

The US Dollar corrected slightly lower in Asia Pacific trade having returned to the offensive in the prior session as markets position for the upcoming FOMC monetary policy announcement. The greenback has trended higher since the middle of last week amid speculation that the US central bank will signal acceleration of its rate hike cycle.

The markets have priced in December’s outlook update calling for three 25bps rate increases in 2018. Investors’ outlook for the subsequent two years still trails the central bank’s projection by 50-75bps however. An upgrade of policymakers’ forecasts echoing a recent hawkish turn in official rhetoric and a confident tone from Chair Powell at the post-meeting presser may push the benchmark currency still higher.

Join our Fed rate decision webinar and follow its impact on FX markets live!

Asia Pacific Trading Session

Canadian Dollar Up on NAFTA Hopes, NZ Dollar Down Before RBNZ

European Trading Session

Canadian Dollar Up on NAFTA Hopes, NZ Dollar Down Before RBNZ

** All times listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

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

DISCLOSURES