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
Mixed
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇪🇺EUR: -0.00% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.32% 🇦🇺AUD: -0.43% 🇨🇦CAD: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zsSb5yC3Kt
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.38% Silver: 0.04% Oil - US Crude: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/1ucq5uuf7U
  • US API Data: #Crude +0.436M VS Est.-2.975M #Cushing -1.286M #Gasoline -1.617M VS Est.+0.464M #Distillate +0.655M VS Est.-0.956M
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.52%, while traders in France 40 are at opposite extremes with 75.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qS7s1S6YOW
  • Dogecoin made another run at highs around the .40 level in celebration of ‘DODGE Day’. Get your market update from @Tams707 here:https://t.co/3vvKuTZ8oh https://t.co/2iLckP6ZUH
  • Netflix regarding subscriber miss - "We don’t believe competitive intensity materially changed in the quarter or was a material factor in the variance as the over-forecast was across all of our regions" Doesn't really inspire confidence...
  • Netflix Q1 Earnings: Revs: $7.16B vs. est. $7.14 EPS: $3.75 vs est. $2.98 $NFLX
  • Netflix earnings: $7.16b rev vs $7.14b est EPS: $3.75 vs $2.98 est Huge miss on subscribers added: +3.98m vs +6.29m est $NFLX shares 10% lower on subscriber miss
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/JPY, GBP/JPY https://www.dailyfx.com/forex/video/live_events/2021/04/20/US-Dollar-Price-Action-Setups-EUR-USD-GBP-USD-USD-JPY-GBP-JPY.html
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.33% Germany 30: 0.25% France 40: 0.09% US 500: 0.01% Wall Street: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3jk8anEOJd
Loonie Extends Decline as April Ivey PMI Hits 9-month Low

Loonie Extends Decline as April Ivey PMI Hits 9-month Low

Trang Nguyen,

THE TAKEAWAY:Canada Ivey Purchasing Managers Index Fell to 52.7 in April> Lower Employment, Supplier Deliveries and Prices Levels > CAD Extends Loss vs. Major Peers

Purchasing activity in the Canadian economy expanded at the slowest pace in nine months in April amid weaker employment gain, lower price pressures and drop in supplier deliveries.

The Canadian Ivey Purchasing Managers Index (PMI) disappointedly fell to 52.7 on a seasonally adjusted basis in April from 63.5 registered in March, the Purchasing Management Association of Canada and the Richard Ivey School of Business jointly reported today. The reading was significantly meager compared to April 2011’s 57.8 and April 2010’s 59.0. The print also falls short of consensus forecast of 61.0 from Bloomberg News survey. Figures over 50 indicate expansion; otherwise values below 50 signify contraction.

Ivey Employment Index for April slightly decreased to 52.2 from March’s 52.7, pointing to weaker employment gain last month. Canada’s unemployment rate fell to 7.2 percent in March from 7.4 percent in February. Yet, analysts have expected the jobless rate to climb again to 7.3 percent last month. Besides, price pressure continued to cool down with the prices index standing at 60.3, the lowest level since August 2010. Persistent strength of the local currency caused additional downward pressure on Canadian inflation.

Ivey Supplier Deliveries Index dropped to 47.4 last month from 48.8 in March, indicating that deliveries were slower than February. In contrast, inventories unexpectedly jumped back a positive territory with the sub-index expanding at 56.8 in April after contracting to 45.7 in the previous month.

USDCAD 1-minute Chart: May 04, 2012

050412_Canadian_Ivey_Purchasing_Managers_Index_April_body_Picture_1.png, Loonie Extends Decline as April Ivey PMI Hits 9-month Low

Chart created using Strategy Trader – Prepared by Trang Nguyen

Canadian dollar loses ground versus most of its major peers except higher-yielding currencies (Australian dollar and New Zealand dollar) in the North American morning trade today as dismal U.S. employment report dampens risk appetite. The loonie immediately extends loss versus its major peers in the minutes following the weaker-than-expected Ivey PMI report. As seen from the 1-minute USDCAD chart above, the greenback advanced 30 pips against the loonie, rising to the session high of $C0.9940 from $C0.9910. The Relative Strength Indicator crossing above 70 indicated that market participants have been cutting their loonie holdings in favor of the reserve currency.

--- Written by Trang Nguyen, DailyFX Research Team for DailyFX.com

To contact Trang, email tnguyen@dailyfx.com

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

DISCLOSURES