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. See our updated Privacy Policy here.



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
Wall Street
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
  • RT @michaeljburry: Read thread.
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out:
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
Loonie Tumbles to a 3-Year Low on a Surprise PMI Decline

Loonie Tumbles to a 3-Year Low on a Surprise PMI Decline

Benjamin Spier, Technical Strategist

Talking Points:

  • Canadian Ivey PMI unexpectedly declined to a 4-year low
  • The employment index also declined in December
  • USD/CAD rose to a 3-year high

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The Canadian Dollar fell to a new 3-year low against the US Dollar, as the Ivey Purchasing Managers Index unexpectedly fell to a four year low in December.

The Canadian index of economic activity was reported at 46.3, disappointing expectations for 54.5 and down from 53.7 in November. The employment index fell to 53.4 in December from 60.3 in November. The December Ivey PMI fell below the 50.0 neutral level for the first time in 5 months.

The Bank of Canada recently predicted 2.3% annualized growth in Q4, following a reported 2.7% annualized growth in Q3 and 1.7% expansion in Q2. The BoC stopped mentioning the possibility of a rate increase in its October meeting because of below target inflation and slower than expected growth. Therefore, below target economic indicators like today’s PMI release may further weigh on monetary policy and therefore drive the Canadian Dollar lower.

That’s why the Loonie fell about 45 pips against the US Dollar following the release, first on CAD weakness, but the decline was soon joined by general greenback strength seen across all Forex markets. USD/CAD may next find resistance by the 4-year high at 1.0854.

New to Forex? Watch this video

USD/CAD 1-Minute: January 7, 2014

Loonie_Tumbles_to_a_3-Year_Low_on_a_Surprise_PMI_Decline_body_Picture_1.png, Loonie Tumbles to a 3-Year Low on a Surprise PMI Decline

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

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