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
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
USD/CAD Back to Lows Despite May Canadian CPI Missing Expectations

USD/CAD Back to Lows Despite May Canadian CPI Missing Expectations

Christopher Vecchio, CFA, Diego Colman,

Talking Points:

- USD/CAD hits C$1.2900 after May CPI report before fading.

- Crude Oil’s first gains all week are helping bolster the Canadian Dollar.

- FX volatility set to remain high with the Brexit vote next week - it's the right time to review risk management principles to protect your capital.

Earlier today, Canada’s National Statistics Agency released the May Consumer Price Index, providing a temporary setback to the Canadian Dollar. The data showed headline CPI decelerated, coming below market consensus at +1.5% y/y from +1.7% y/y in April, and +0.4% m/m from +0.3% m/m the preceding month. At such time, with the Canadian economy still in transition away from commodities, that Bank of Canada should continue maintaining a neutral stance after easing twice in 2015. Meanwhile, Core CPI was in line with expectations at 2.1% y/y and 0.3% m/m.

The overall increase in 12-month Headline Inflation was driven primarily by a +3.2% y/y increase in Alcoholic Beverages and Tobacco products, a +2.0% y/y increase in Household Operations and Furnishings and a +1.8% y/y rise in Food items.

See the DailyFX economic calendar for Friday, June 17, 2016

Chart 1: USD/CAD 1-minute Chart: June 17, 2016 Intraday

USD/CAD Back to Lows Despite May Canadian CPI Missing Expectations

Immediately after the release, USD/CAD pushed off of its lows of the day, near C$1.2873, reaching as high as C$1.2900 at the time this report was written. Continued underperformance in inflation figures may prompt the Bank of Canada to reassess its neutral tone, but at this point in time, with energy prices remaining bolstered and Prime Minister Justin Trudeau’s fiscal stimulus package in tow, today’s data doesn’t constitute a big enough sample size to cause the Canadian Dollar to detach from broader risk trends.

UPDATE: Chart 2: USD/CAD 1-minute Chart: June 17, 2016 Intraday

USD/CAD Back to Lows Despite May Canadian CPI Missing Expectations

Read more: Brexit Risk in Focus as BOE Holds Rates, Warns on Risks to Economy

--- Written by Christopher Vecchio, Currency Strategist and Diego Colman, DailyFX Research

To contact Christopher Vecchio, e-mail

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.