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
Bullish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Fed Chair Powell - Drawdown in Treasury account at Fed could lower rates $USD
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.81% US 500: 0.62% France 40: 0.05% Germany 30: 0.04% FTSE 100: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Dz2SC5NeTA
  • $WTI Crude Oil is currently trading at a fresh one year high just shy of 63.00 following today's #EIA report. Oil output and total stockpiles slumped last week, driven by the extreme weather in Texas. $OIL $USO https://t.co/BOtkO2QEN7
  • Fed Chair Powell: - Inflation dynamics evolve over time, don't change overnight - Expect higher inflation but not a large, persistent move - Economy still has a great deal of slack - Fed has tools to deal with unwanted higher inflation when necessary #Fed $USD
  • BoE Gov. Bailey: - It would take significant news for us to change the pace of QE purchases. #BoE $GBP
  • Fed Chair Powell: - Some asset prices appear elevated under certain measures - Overall leverage in the financial system is moderate #Fed $USD
  • BoE Gov. Bailey: - Pace of QE is influenced by the economic outlook, will be reviewed next month - We could reduce the pace of purchases and stretch them out over 2021 - Pace of purchases depends in part on market functioning #BoE $GBP
  • Hey traders! Get your Wednesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/egWtS06xXd
  • This week's webinar starts in 10 minutes Talking rising yields, tech weakness and how to play the ongoing rotation Join here - https://t.co/BY5KNZL8nf
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.56% 🇨🇦CAD: 0.27% 🇦🇺AUD: 0.11% 🇪🇺EUR: -0.23% 🇨🇭CHF: -0.45% 🇯🇵JPY: -0.73% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/L2ppQOR2u0
Canadian Jan GDP Rose More Than Expected; USDCAD Bullish

Canadian Jan GDP Rose More Than Expected; USDCAD Bullish

Renee Mu, Currency Analyst

THE TAKEAWAY: [Canadian economic grew more than expected in January] > [Most major industrial sectors gains in Canada.] > [USD/CAD Bullish]

According to a report released by Statistics Canada today, the Canadian economy grew at a faster pace than expected in January on manufacturers’ gains . Real gross domestic product increased 0.2 percent following a 0.2 percent decline in December. The median forecast of economists polled by Bloomberg News called for a 0.1percent gain. On a yearly basis, GDP grew 1.0 percent in January, beating the estimate for a 0.9 percent increase.

Manufacturing sector rose by the most among all industries, leading to the gain in gross domestic product. In specific, Industrial production increased by 0.7 percent in January while durable manufacture climbed by 1.7 percent. Given the better-than-expected report, Canadian economy signals a picking up after ending last year with the slowest growth since the recession. In addition, with more plans mentioned in Canada’s 2013 Budget report to be implemented, the country’s output is likely to continue recovery in the following months.

USDCAD 1-minute Chart: March 28, 2013

Canadian_Jan_GDP_Rose_More_Than_Expected_USDCAD_Bullish_body_Picture_1.png, Canadian Jan GDP Rose More Than Expected; USDCAD Bullish

Chart created using Marketscope 2.0 – Prepared by Renee Mu

In the minutes following the release of the Canada’s report, the looniestrengthened against its US counterparty, with USDCAD falling to C$1.0150. At the time of this report was written, the Canadian dollar traded higher, with the USD/CAD pair trading at C$1.0165.

--- Written by Renee Mu DailyFX Research

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

DISCLOSURES