Canadian employment: A Canadian jobs report showed that the economy added 12.5K jobs in April. This was better the -54.5K reading from March, but undershot economists’ forecasts of around 14.8K. The unemployment rate held at 7.2%. I showed how the USD/CAD just bounced off a support cluster with a bullish outside bar yesterday. Today, it is rallying through some recent resistance levels…
The Bank of Canada held its benchmark interest rate at 1.00%, a rate held for more than 2 1/2 years. Although there was not mention of possible rate cut, the bank holds pat as economic growth remains modest in Canada, the US and globally…
In March, the Canadian economy shed 54.5K jobs after adding 50.7K in the previous month. This -54.5K reading missed expectations of about 7K jobs to have been added. The unemployment rate rose from 7.0% to 7.2%. The Canadian Dollar took a hit after the news. Even with the USD weaker across the board, USD/CAD was able to rally sharply to go from around 1.0140 to above 1.02 in matter of minutes…
BoC: The Bank of Canada held its benchmark interest rate at 1.00%. In it’s statement, the bank noted, “With continued slack in the Canadian economy, the muted outlook for inflation, and the more constructive evolution of imbalances in the household sector, the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time…
The Bank of Canada met today and held its benchmark interest rate at 1.00%. It has been unchanged for the 18th time, since last changed in September 2010. The BoC reiterates that higher rates will likely be needed over time. “Over time, some modest withdrawal of monetary policy stimulus will likely be required, consistent with achieving the 2 per cent inflation target.”..
Breakout: The sterling reacted positively to the surprising news. Compared to the loonie, it broke above a recent consolidation range as seen in the 1H GBP/CAD chart. It has already been in a slightly bullish channel since last week, but the RSI has been mostly held under 60, a sign that the previous bearish momentum was still intact, until the reaction to today’s BoE news. The GBP/CAD breaks the near-term range, and tags 1.5950…
Early last week, Carney made dovish statements, which pressured the loonie, and fueled the USD/CAD. We have been following this swing, projecting it to 0.9970. This swing materialized just as anticipated, and the market was approaching the swing projection/falling trendline ahead of today’s (10/23) BoC statement. The statement did not confirm Carney’s dovish tone, and instead had a hawkish one…
Canadian employment change data came in 52.1K for September. This was well above economists’ forecast of a 11.7K rise according to Forexfactory.com. This also beat the 34.3K increase in August, making this a couple of really good months for Canada’s jobs market. Unemployment rate did go up though, from 7.3% to 7.4%, a product of more people looking for jobs…
The Bank of Canada held its overnight rate at 1.00%. The market did not expect a change in rates but a general consensus is that the BoC will be the central bank in the G7 nations to raise rates. The BoC statement released was indeed hawkish. Even though it noted global headwinds, it explained that domestic demand has kept the Canadian economy afloat…
The Canadian employment data for August was released at 8:30AM EDT this Friday (8/10). Employment change, which showed an addition of 7.3K jobs in June, was forecast to show 9.6K in July, according to ForexFactory. Instead of improving, the jobs data showed a loss of 30.4K jobs in July. The unemployment rate edged up from 7.2% to 7.3%…
Volume on yen futures was 471K contracts - that is the second highest (after 6/7) on record. Tentative support on $USDCHF; but after that huge swing, I don't take it seriously. http://t.co/BhCgRaaLSx
"The End of Day #Forex Report. A look at the new trading day ahead."( http://t.co/gpwgsWvEC1 ) Biggest pip-based drop for $USDJPY since 5/6/2010: http://t.co/pUgdbhoHEY "#USDTRY off highs as riots on the streets in Istanbul"( http://t.co/kVKcgOsGIY )
And guess what happened after the +4% sell off in USD/JPY in March 2011? = G7 intervention
“@daytradersfx: Well not a bad morning, closed two trades for a total of 138 pips, thanks $EURUSD and $GBPJPY” And one for charity too! Found this really old article I wrote on USD/JPY: Top 10 Largest Moves and How the BoJ Responded http://t.co/lTepJjIoMW If $EURJPY keeps up this pace, I may be jumping in again faster than expected... http://t.co/0VKEIS3Mv7 Biggest one day sell-off in USD/JPY since March 11, 2011 - aftermath of the earthquake & tsunami that hit Japan What does it take to break gold from this wedge... http://t.co/6FWE9xvkM5 "#USDJPY moves below 100 day MA and the price plunges another 50 pips"( http://t.co/n6tuqQcVZJ ) Alright, I need to take another portion of my $USDJPY short off (+385). If it breaks 95 convincingly, I'll re-up. Next level of escalation for the $USDJPY's gradual turn: breaking this trendline at 95: http://t.co/CA9BDM2VU1
$USDJPY Stutter-Step Sell Targets Last Week’s Low - http://t.co/qAOs1KDe3P #forex #USDJPY
And if you don't like what you see, let me know--appreciate the feedback either way. If you like what you see, sign up for my reports via e-mail in PDF format: http://t.co/2AocNzIh9g (I really hate spam, I'm sure you do, too) Fed's June rate decision scheduled for next Wednesday. Keep it in mind as the 'Taper' debate rages on Is today the start of a major Australian Dollar bounce? I think so. Here's why: http://t.co/RGWFdsBLDT Decelerating pattern back into former support as new resistance for $SPY. Watching 1,600: http://t.co/tlRF8QPhYm ...falling demand and higher yield on med-duration debt not a good sign for a Fed contemplating an exit. Treasury sells 3-year paper with a yield of 0.581% (highest since 7/15/2011), bid-to-cover of 2.95 (lowest 12/10/2010). How many times in the past 3 decades has $AUDUSD moved in over 5 straight weeks in one direction: http://t.co/PRbNvwHPoq
RT @Fibarchie: @ForexStopHunter Thanks Dale for the #fxstreet interview. catch it here http://t.co/Wyn8FBQ60Y $es $cl $gbpusd Your Welcome:) This was the $EURJPY chart I was looking at yesterday. Played well, but more places to jump back on http://t.co/ob6OyMTWjz Argument that AUD could weaken on RBA cuts is valid, but look at key interest rates/differentials: http://t.co/OqqsS9mg2u
Who on my stream called AUDUSD down to 9330about 10 days ago to end a trend sequence? Kudos.. Asmussen earlier touched on a critical question most overlook:what if a country didn't meet OMT conditions? Either EZ exit or program revamp
@DRodriguezFX good looks...this feels like one of those that has had so many false bottoms that when the bottom does form-few will trade it Bundesbank Weidmann said that monetary policy is not meant to buy time for fiscal efforts. That has been a key Fed and BoJ effort... That analysis is the brainchild of @JamieSaettele, by the way. He did a great writeup on newspaper/magazine headlines in his book. .@KKerrFX pointed out lack of irony in sensationalist BI headlines, but really I posted that bc "The Australian" said "Plummets" in title. Australian Dollar bounce might be start of bigger recovery. One clue: sensationalist newspaper headlines: http://t.co/IWIIr7gnF5 Ouch. Paulson Gold Fund dropped 13% in May and down 54% since the start of the year - Bberg RT @NicTrades: It's Tuesday. We whacked it down so you could buy it. You are welcome America > Class.. I took a $EURJPY short at 130.75 before I got on my plane yesterday - before it was delayed for hours. Now +200. I'm going to book. Patience kept me with my $USDJPY short. Not back to last week's spike low at 95, but I'm still +300 in the money on the remaining exposure
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