Skip to Content
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.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Canadian Dollar Drops, GBP/USD Choppy, NZD/USD Underperforms

Canadian Dollar Drops, GBP/USD Choppy, NZD/USD Underperforms

MARKET DEVELOPMENT – Canadian Dollar Drops, GBP/USD Choppy, NZD/USD Underperforms

DailyFX 2019 FX Trading Forecasts

GBP: A typical choppy and volatile session so far for the Pound. An initial spike on reports from the RTE that the DUP were ready to support Boris Johnson having resolved key stumbling blocks, had been quickly dismissed by DUP Leader Foster. The fact remains the same, that Boris Johnson will need DUP support to increase the likelihood of a potential deal being passed through parliament.

CAD: Canadian inflation saw a larger than expected monthly drop, resulting in the yearly rate dropping to 1.9% (Exp. 2.1%). However, while this had kept the Canadian Dollar on the defensive, the BoC’s core measure in fact rose to 2.06% (1.96%), as such, this data is unlikely to provide a cause of concern for the central bank.

NZD: Overnight, the New Zealand Dollar saw a brief jump on the back of the Q3 CPI data, in which both the headline and quarterly rate rose above expectations and more importantly, above the RBNZ’s forecast. That said, this is unlikely to the alter the monetary policy path for the central bank with money markets fully pricing in another 25bps rate cut at the November meeting.

Source: DailyFX, Refinitiv


  1. EUR/USD Price: Struggles Continue, Sitting on 50-Day Moving Average” by Nick Cawley, Market Analyst
  2. FTSE 100 vs FTSE 250: Brexit Progress Key to Outperformance” by Justin McQueen, Market Analyst
  3. DAX 30 & CAC 40 Technical Outlook: Challenging Year Highs” by Paul Robinson, Currency Strategist
  4. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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