USD/CAD Outlook March 17-21 | Forex Crunch
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The Canadian dollar did not have an eventful week, and was almost unchanged at week’s end, as USD/CAD closed just above the 1.11 line. This week’s highlights are Manufacturing Sales, tux paint Core CPI and Core Retail Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD .
In the US, retail sales numbers met expectations, while Unemployment Claims dropped to a three-month low . There were no major events out of Canada last week. Updates: Mar 21, 13:30: USD/CAD plunges on superb Canadian data : All the Canadian inflation and retail sales figures exceeded expectations. Inflation in Canada stands at 1.1% and core inflation at... Mar 21, 10:36: Coping with higher rates : There is reason to take some comfort from yesterday’s price action. After the re-pricing of interest rate expectations (higher) in... Mar 20, 14:20: Investors buy US dollars amid rate hikes talks : From the perspective of an investor with a long equity position, Janet Yellen s first swing at chairing an FOMC rate... Mar 20, 10:07: US dollar strengthened after Yellen s rate hikes talk : The FOMC meeting gave the dollar a big boost last night as the new Federal Reserve Janet Yellen made it... Mar 20, 8:52: Canadian dollar crushed post series of events tux paint : The Canadian dollar is trading around multi-year lows against most of the major currencies. The USDCAD pair jumped to four-year... tux paint Mar 20, 7:28: AUDCAD rejects over extended prices | expecting downward movement : The bullish momentum that we’ve got going here on the AUDCAD daily chart fired off a large bullish power candle... Mar 19, 20:50: tux paint 5 reasons for USD rally on the Fed decision : The third taper of bond buys was certainly expected and priced in. So was the removal of the 6.5% threshold... Mar 19, 20:11: USD/CAD at new 4 year high on Fed decision : The Canadian dollar was already on the back foot due a series of blows (see 3 reasons for the C$... Mar 19, 19:00: Taper 3: Yellen joins the taper train, unemployment forecasts upgraded – USD rising : The Federal Reserve reduced its bond buying program by another $10 billion to $55 billion per month, as expected. The... Mar 19, 14:27: Putin s press conference boosted markets : Equity investors were jubilant yesterday, taking solace in the fact that Vladimir Putin s press conference in response to the annexation... Mar 19, 13:48: 3 reasons for the USD/CAD surge : USD/CAD is now 150 pips off the lows of 1.1030 seen just at this time yesterday, after a positive reading... Mar 19, 11:09: tux paint USDCAD Weekly Triangle Pattern Trade Set-Up : WEDNESDAY 19th March 2014 I ve spoken on many occasions about the triangle resistance pattern on a weekly time frame... Mar 18, 14:26: Equity markets revived amid non- violence in Crimea tux paint : Equity markets breathed a sigh of relief yesterday, unwinding protective hedges placed on Friday tux paint after Crimea formally applied to join the Russian... Mar 18, 13:41: USD/CAD extends slide after strong manufacturing sales : The Canadian dollar continues recovering, and this time it got a boost from a stronger than expected rise in manufacturing...
USD/CAD daily chart with support and resistance lines on it. Click to enlarge: tux paint Foreign Securities Purchases: Monday, 12:30. This event is linked tux paint to currency demand, as foreigners need Canadian dollars to purchase Canadian securities. The indicator lost ground in January, with a disappointing reading of -$4.28 billion. This was the first decline since July, and was nowhere near the estimate tux paint of +$9.97 billion. The markets are anticipating better news in January, with an estimate of +$3.24 tux paint billion. Manufacturing Sales: Tuesday, 12:30. This is the first key event in a busy week. The indicator sagged tux paint last month, posting a decline of 0.9%, its worst performance since May. The markets are expecting better news for February, with an estimate of 1.1%. Will the indicator meet or beat this rosy prediction? BOC Governor Stephen Poloz Speaks: Tuesday, 15:55. Poloz is scheduled to speak at the Halifax Chamber of Commerce. Analysts will be listening carefully for any hints as to future monetary policy. Wholesale Sales: Wednesday, 12:30. Wholesale Sales is an important tux paint gauge of consumer spending, which is a critical component of economic growth. The indicator looked sluggish in January, coming in at -1.4%. This missed the estimate of -0.5%. tux paint The markets are anticipating a strong turnaround in February, with an estimate of 1.2%. Core CPI: Friday, 12:30. Core CPI is considered more reliable tha
About About The Team Contact Us Submit a Guest Post Tools Forex Tools Tips for Forex Traders Basics Forex Conventions Forex Software Other Forex Stuff News Forex News Opinions Forex Industry Forex Bits Daily EUR USD Daily Daily Outlook Weekly Forecasts EUR USD Forecast GBP USD Forecast AUD USD Forecast Major events USD JPY Forecast USD CAD Forecast NZD USD Forecast USD/CHF Forecast Binaries Live Calendar
The Canadian dollar did not have an eventful week, and was almost unchanged at week’s end, as USD/CAD closed just above the 1.11 line. This week’s highlights are Manufacturing Sales, tux paint Core CPI and Core Retail Sales. Here is an outlook on the major events and an updated technical analysis for USD/CAD .
In the US, retail sales numbers met expectations, while Unemployment Claims dropped to a three-month low . There were no major events out of Canada last week. Updates: Mar 21, 13:30: USD/CAD plunges on superb Canadian data : All the Canadian inflation and retail sales figures exceeded expectations. Inflation in Canada stands at 1.1% and core inflation at... Mar 21, 10:36: Coping with higher rates : There is reason to take some comfort from yesterday’s price action. After the re-pricing of interest rate expectations (higher) in... Mar 20, 14:20: Investors buy US dollars amid rate hikes talks : From the perspective of an investor with a long equity position, Janet Yellen s first swing at chairing an FOMC rate... Mar 20, 10:07: US dollar strengthened after Yellen s rate hikes talk : The FOMC meeting gave the dollar a big boost last night as the new Federal Reserve Janet Yellen made it... Mar 20, 8:52: Canadian dollar crushed post series of events tux paint : The Canadian dollar is trading around multi-year lows against most of the major currencies. The USDCAD pair jumped to four-year... tux paint Mar 20, 7:28: AUDCAD rejects over extended prices | expecting downward movement : The bullish momentum that we’ve got going here on the AUDCAD daily chart fired off a large bullish power candle... Mar 19, 20:50: tux paint 5 reasons for USD rally on the Fed decision : The third taper of bond buys was certainly expected and priced in. So was the removal of the 6.5% threshold... Mar 19, 20:11: USD/CAD at new 4 year high on Fed decision : The Canadian dollar was already on the back foot due a series of blows (see 3 reasons for the C$... Mar 19, 19:00: Taper 3: Yellen joins the taper train, unemployment forecasts upgraded – USD rising : The Federal Reserve reduced its bond buying program by another $10 billion to $55 billion per month, as expected. The... Mar 19, 14:27: Putin s press conference boosted markets : Equity investors were jubilant yesterday, taking solace in the fact that Vladimir Putin s press conference in response to the annexation... Mar 19, 13:48: 3 reasons for the USD/CAD surge : USD/CAD is now 150 pips off the lows of 1.1030 seen just at this time yesterday, after a positive reading... Mar 19, 11:09: tux paint USDCAD Weekly Triangle Pattern Trade Set-Up : WEDNESDAY 19th March 2014 I ve spoken on many occasions about the triangle resistance pattern on a weekly time frame... Mar 18, 14:26: Equity markets revived amid non- violence in Crimea tux paint : Equity markets breathed a sigh of relief yesterday, unwinding protective hedges placed on Friday tux paint after Crimea formally applied to join the Russian... Mar 18, 13:41: USD/CAD extends slide after strong manufacturing sales : The Canadian dollar continues recovering, and this time it got a boost from a stronger than expected rise in manufacturing...
USD/CAD daily chart with support and resistance lines on it. Click to enlarge: tux paint Foreign Securities Purchases: Monday, 12:30. This event is linked tux paint to currency demand, as foreigners need Canadian dollars to purchase Canadian securities. The indicator lost ground in January, with a disappointing reading of -$4.28 billion. This was the first decline since July, and was nowhere near the estimate tux paint of +$9.97 billion. The markets are anticipating better news in January, with an estimate of +$3.24 tux paint billion. Manufacturing Sales: Tuesday, 12:30. This is the first key event in a busy week. The indicator sagged tux paint last month, posting a decline of 0.9%, its worst performance since May. The markets are expecting better news for February, with an estimate of 1.1%. Will the indicator meet or beat this rosy prediction? BOC Governor Stephen Poloz Speaks: Tuesday, 15:55. Poloz is scheduled to speak at the Halifax Chamber of Commerce. Analysts will be listening carefully for any hints as to future monetary policy. Wholesale Sales: Wednesday, 12:30. Wholesale Sales is an important tux paint gauge of consumer spending, which is a critical component of economic growth. The indicator looked sluggish in January, coming in at -1.4%. This missed the estimate of -0.5%. tux paint The markets are anticipating a strong turnaround in February, with an estimate of 1.2%. Core CPI: Friday, 12:30. Core CPI is considered more reliable tha
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