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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/HowmkgNlJK
  • 🇯🇵 Housing Starts YoY (AUG) Actual: -9.1% Expected: -10.9% Previous: -11.4% https://www.dailyfx.com/economic-calendar#2020-09-30
  • Despite recent gains in $AUDUSD, #SP500 and #DowJones, retail positioning signals paint a mixed outlook for these assets What are key technical levels to watch for ahead? - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/30/AUDUSD-SP-500-Dow-Jones-Outlook-Mixed-After-Recent-Gains.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/tsSdBtuwcN
  • Heads Up:🇯🇵 Housing Starts YoY (AUG) due at 05:00 GMT (15min) Expected: -10.9% Previous: -11.4% https://www.dailyfx.com/economic-calendar#2020-09-30
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Expected: 86.9 Previous: 83.8 https://www.dailyfx.com/economic-calendar#2020-09-30
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Expected: 76.2 Previous: 74.4 https://www.dailyfx.com/economic-calendar#2020-09-30
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.22%, while traders in EUR/USD are at opposite extremes with 61.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yvS8zOrrbN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.07% 🇳🇿NZD: -0.03% 🇪🇺EUR: -0.09% 🇬🇧GBP: -0.14% 🇨🇭CHF: -0.16% 🇦🇺AUD: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdMXOKYAwH
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.34% Wall Street: -0.34% US 500: -0.35% France 40: -0.36% FTSE 100: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fTinhd9l38
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/T0ADbhgExG
Canadian Dollar Hits Fresh July High versus USD After Strong Sales Report

Canadian Dollar Hits Fresh July High versus USD After Strong Sales Report

2013-07-23 12:58:00
Christopher Vecchio, CFA, Senior Strategist
Share:

THE TAKEAWAY: CAD Retail Sales (MAY) > +1.9% versus +0.4% expected, from +0.2% (revised higher from +0.1%) (m/m) > USDCAD BEARISH

The Canadian Dollar has emerged as the top performer on the day after the May Canadian Retail Sales report not only easily topped expectations, but posted its best reading since November 2010 (+1.8%). The +1.9% uptick for the May report underscores a solid uptick in Canadian growth prospects in the 2Q’13, and reaffirms the multiyear sentiment of the Bank of Canada that the next change in monetary policy will be of the tightening variety, probably in mid- to late-2014.

USDCAD 1-minute Chart: July 23, 2013

Canadian_Dollar_Hits_Fresh_July_High_versus_USD_After_Strong_Sales_Report_body_x0000_i1027.png, Canadian Dollar Hits Fresh July High versus USD After Strong Sales Report

Charts Created using Marketscopeprepared by Christopher Vecchio

Following the report, the USDCAD slid quickly from C$1.0332 to as low as 1.0298 within 10-minutes of the release. However, at the time this report was written, the USDCAD had recovered to 1.0312, amid a broader unwind of the North American currencies versus their European counterparts. The EURCAD, after having fallen from C$1.3622 to as low as 1.3582, had recovered to 1.3600, at the time this report was written.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES