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.

Free Trading Guides
EUR/USD
Mixed
Low
High
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • #DidYouKnow crude #oil is a natural resource that differs in composition depending on its location. Find out more crude oil facts from @WVenketas here: https://t.co/Ssp486xz2J #OOTT #CommoditieswithDailyFX https://t.co/zhkg96pyWo
  • RT @IHSMarkitPMI: 🇪🇺 Eurozone endured its worst quarter since 2013, according to flash PMI data, with December coming in at 50.6 (unchanged…
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/12:30 PM GMT to prepare for major event risk in the week ahead. Register here: https://t.co/QscMCDP1ud https://t.co/TZfPbJO4np
  • RT @lisaabramowicz1: Sweden is in the spotlight of global monetary policy as counterparts watch to see how easy it is for the experiment of…
  • RT @elerianm: Good morning. Wishing you all a good week Mixed real economy data to start the week: A beat in #China for retail sales (+8% Y…
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/zXiuoUw0ar
  • RT @elerianm: This @FT story--on "US #retailers hit by ‘worst year since 2008’ for discounting"--could be read as the third partial indicat…
  • RT @Schuldensuehner: Just to put things into perspective. S&P500’s all-time high driven mainly by global liquidity which hit an all-time hi…
  • RT @KyleR_IG: * CHINA NOV. RETAIL SALES RISE 8% Y/Y; EST. 7.6% * CHINA NOV. INDUSTRIAL OUTPUT RISES 6.2% y/y; EST. 5% * CHINA JAN-NOV FIXED…
  • Gold Price: XAU/USD Key Chart Signals to end Consolidation- GLD Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2019/12/16/Gold-Price-XAUUSD-Key-Signals-to-end-Consolidation--GLD-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/WUxDroWEBk
Canadian Dollar on Pace for Parity Against the US Dollar

Canadian Dollar on Pace for Parity Against the US Dollar

2010-03-12 22:39:00
David Rodriguez, Head of Business Development
Share:
Strong Canadian Employment data suggests that domestic economic conditions continue to improve, but it will be important to watch key Manufacturing and Consumer Price Index reports to get a better sense for key fundamental trends. The former is expected to show that Canada’s important Manufacturing industry saw sales expand by a healthy 0.6 percent through the month of January. Said report has never been known to produce sharp Canadian Dollar moves upon release, but recent Loonie strength suggests that any especially large disappointment could force a USDCAD bounce. End-of-week Consumer Price Index data should prove far more eventful—especially as the Bank of Canada’s preferred “Core” measure remains dangerously close to target levels despite the broader economic slowdown. 
 
Analysts predict that Bank of Canada Core CPI grew by a 1.7 percent in the 12 months ending in February—just a hair short of the BoC’s official target at 2.0 percent. Recent surprises in Employment numbers and generally higher-than-expected core inflation leave the Canadian central bank in a difficult position. On the one hand, it seems premature to tighten monetary policy and raise interest rates while the current economic recovery remains fragile. On the other, stubbornly high inflation rates would likely pick up further steam if the economy returns to trend growth. Suffice it to say it should be interesting to watch for any especially large surprises and any official BoC commentary on the matter. 
 
Impressive Canadian Dollar rallies leave the currency ripe for short-term pullbacks, but it is undeniable that momentum remains plainly in its favor. The clear danger remains that the USDCAD has fallen at an unsustainable pace; net Non-Commercial COT positioning is now at its most bearish extremes since the pair plunged towards $0.9000. As always, it is incredibly difficult to time reversals on one-sided positioning. Yet it is undeniable that any short-term USDCAD rallies could accelerate quickly as speculators close their one-sided trades. It will almost certainly be an exciting week for Canadian Dollar trading. - DR
 

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

DISCLOSURES

News & Analysis at your fingertips.