Positive job, PMI data strengthens Canadian dollar
On the basis of a decline in the Eurozone current account surplus and an upbeat sales data reported by Statistics Canada June 23, we had forecasted the EUR/CAD pair to decline from a level of 1.4840. We had also stated
Read MoreAussie turns bearish on less hawkish statement by RBA
The unanticipated outcome of the UK election, which resulted in a hung parliament, and the dominance of the EU members over the UK on the Brexit issue took a toll on the Pound in early June. The increasing immunity of
Read MorePeso turns weak on widened trade deficit
On the basis of a dovish rate hike by the Fed in June and a decline in consumer prices in May, on June 16th , we had expressed a desire to go short in the USD/MXN pair at 18.10 levels.
Read MoreEuro signals downtrend on poor retail sales data
The Euro dollar outlook turned bearish last week as agencies reported a decline in the German factory orders and Italian retail sales. The Canadian dollar, in the meanwhile, strengthened against the Euro, despite a sharp fall in the price of
Read MorePound remains weak on poor retail sales in May
The outcome of the UK election continues to weigh on the Pound, which has now turned to be the worst performing currency in June. Ironically, during March-May period, the Pound was one of the best performing currencies. While the Pound
Read MorePound signals uptrend on strong CPI data
On May 29th, a predicted a downtrend in the GBP/USD pair and an interest to go short at 1.2840 levels, with 1.2600 as the target. Additionally, interest to purchase a put option as well. A week later, the GBP/USD pair
Read MoreYen turns weak on poor Q1 GDP growth
The Euro dollar fell earlier this week due to a rumor that the ECB is about to cut inflation forecasts. A decline in the German factory orders in April also aided the weakness. While the Euro declined, the Yen appreciated
Read MoreCanadian dollar signals uptrend on strong GDP data
Considering the improved outlook for oil and reasonably strong Canadian retail sales in March, on May 19th, we had stated our intention to go short in EUR/CAD pair at 1.5150, with a target of about 1.4880. We had also expressed
Read MoreDecline in US jobless claims strengthens Greenback
The NZD/USD pair had a decent rally of about 100 pips in the past ten days. Strong retail sales data and dairy prices kept the Kiwi dollar strong. The Greenback, on the other hand, was weak due to poor CPI
Read MoreLoonie up on Saudi-Russia oil production cut deal
A sharp decline in the price of crude oil and victory of Emmanuel Macron in the French election has enabled the Euro to rally against the Canadian dollar, so far in May. The dovish stance of the Bank of Canada
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