Canadian Dollar Forecast and Updates

USD/CAD Open: 1.0181-84 Overnight Range: 1.0137-1.0225 The Canadian dollar was volatile overnight as it made some gains vs. the USD. Yesterday, US mfg. data showed a minor expansion and US car sales grew at the fastest pace this year. Oil is at $93.23 and gold is at $1,732. NY futures are pointing higher today. Bernanke […]

USD/CAD Open: 1.0126-29 Overnight Range: 0.9974-1.0144 The Canadian dollar got clobbered overnight losing ground vs. the USD. Overnight, China reported weaker than expected mfg. PMI. Greece’s decision to hold a referendum on the eurozone bailout plan has caused a risk-off trade. Oil is at $90.72 and gold is at $1,692. NY futures are pointing lower […]

USD/CAD Open: 0.9963-65 Overnight Range: 0.9914-1.0027 The Canadian dollar lost some ground vs. the USD overnight. The Bank of Japan intervened in currency markets and boosted the USD weakening the Yen. Italian bonds fell and yields are nearing 6%. Oil is at $93.49 and gold is at $1,744. NY futures are pointing lower today. The […]

USD/CAD Open: 0.9930-35 Overnight Range: 0.9895-0.9936 The Canadian dollar traded sideways overnight holding on to yesterday’s gains. Equities, especially bank stocks, and the loonie had a sharp rally yesterday driven by an announcement in Europe on its sovereign debt plan. Oil is at $92.54 and gold is at $1,738. NY futures are pointing lower today. […]

USD/CAD Open: 0.9945-49 Overnight Range: 0.9941-1.0051 The Canadian dollar rocketed higher overnight and broke past parity gaining vs. the USD. The EUR, AUD, and CAD are all higher vs. the USD. Overnight, sigs that a debt deal was completed boosted eurozone equity markets and overall risk sentiment. Oil is at $92.84 and gold is at […]

USD/CAD Open: 1.0153-56 Overnight Range: 1.0113-1.0178 The Canadian dollar traded sideways overnight. Yesterday, the Bank of Canada did not change rates (as expected) but did continue to show signs of worry about the global outlook and did reduce the growth outlook for Canada next year. Oil is at $93.31 and gold is at $1,705. NY […]

USD/CAD Open: 1.0001-05 Overnight Range: 0.9995-1.0049 The Canadian dollar grinded higher overnight. Oil is much higher at $94.31 and gold is at $1,661. NY futures are flat today. The Bank of Canada releases its key interest rate decision today and retail sales data is also released today. In the US, Case Schiller and consumer confidence […]

USD/CAD Open: 1.0073-76 Overnight Range: 1.0050-1.0100 The Canadian dollar traded sideways overnight and maintained its gains achieved on Friday. Overnight, China PMI was stronger than expected and there were no major announcements from the EU summit. Oil is higher at $87.87 and gold is at $1,661. NY futures are flat today. The Bank of Canada […]

USD/CAD Open: 1.0161-64 Overnight Range: 1.0131-1.0248 The Canadian dollar was choppy and very volatile in overnight trading as it tries to find direction. Yesterday, the loonie rally fizzled out along with equity markets as optimism turned sour on eurozone bailout possibilities but sentiment may turn the other way today based on some new policymaker comments […]

USD/CAD Open: 1.0173-76 Overnight Range: 1.0146-1.0188 The Canadian dollar gained to near 1.0110 USD/CAD on the back of a strong CPI report this morning. Oil is higher at $87.23 and gold is at $1,639. NY futures are slightly positive. The short term Canadian dollar technicals remain negative while above parity. For today, USD resistance is […]