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.



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
Please try again
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
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: #DailyfxGuides
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:
US January Business Inventories Beats Forecast; USDCAD Bullish

US January Business Inventories Beats Forecast; USDCAD Bullish

Renee Mu, Currency Analyst

THE TAKEAWAY: [US January business inventories rose by the most since May 2011] > [Businesses increase goods on hand to meet the picking up demand] > [USD/CAD Bullish]

U.S. business inventories in January rose by the most since 2011 and beat the forecast as businesses are restocking with a picking up in consumer demand. The Commerce Department reported in Washington today that stockpiles increased 1.0 percent in January, following anupwardly revised 0.3 percent gain in previous month. The median forecast of 47 economists surveyed by Bloomberg News had projected a 0.5 percent increase in inventories. Meanwhile, sales fell0.3 percent after a gain of 0.1 percent in December.

In specific, inventories in Wholesalers accounting for about 30 percent of all business inventories rose 1.2 percent in January, while retailers’ stockpiles increased 1.5 percent matching gain in sales. The readings indicate that companies replenished warehouses and shelves in line with improving demand.Another report from the Commerce Department showed that US February retail sales jumped by the most in five months. Both reports add more signs to the moderate recovery in U.S. with increasing firmness.

USDCAD 1-minute Chart: March 13, 2013

US_January_Business_Inventories_Beats_Forecast_USDCAD_Bullish_body_Picture_1.png, US January Business Inventories Beats Forecast; USDCAD Bullish

Chart created using Market Scope – Prepared by Renee Mu

In the minutes following the business inventories report, the U.S. dollar rallied against the major currencies. The USDCADrose by 26 bpsto C$1.0292 within 10 minutes after the data release. Then the greenback retracedslightly and was trading at 1.0283 at the time of this report was written.

--- Written by Renee Mu DailyFX Research

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