USD/CAD has been a big mover, gaining as much as 10.2% in the month of March. This week, however, saw a range get continually tighter, pointing to breakout potential in the week ahead.
The US Dollar may rise vs the Euro if NFP and PMI data out of the world’s largest economy sends a flood of capital rushing into the highly-liquid Greenback.
The Canadian Dollar rose with crude oil prices in a volatile day as investors navigated around confusion in Russia-Saudi production cut bets. USD/CAD fell but remains in consolidation.
The Euro may be at risk of a market-wide selloff if concerns about financial stability in the Eurozone and the prospect of another credit crisis emerges.
The Australian Dollar fell with AUD/USD at risk to reversing its bounce off March lows. Stock futures are pointing higher after the Fed eased capital requirements, leaving the Yen vulnerable.
The USD may rise vs the British Pound and Euro ahead of the release of PMI data from Europe and the US as both struggle to revive growth in coronavirus-afflicted economies.
The anti-risk Japanese Yen and US Dollar cautiously rose as Wall Street declined despite less-dismal consumer confidence. Futures hint a “risk-off” tilt as USD/JPY eyes resistance.
March was a month to remember and all signs are pointing to continued challenges in the months ahead. Buckle up.
The US Dollar may rise from a wave of capital rushing into it if PMI data out of the world’s largest economy unnerves investors and boosts demand for highly liquid assets.
The Canadian Dollar sank with crude oil prices as USD/CAD bounced towards trend-defining resistance. Health care securities drove gains on Wall Street. AUD/USD eyes China PMI data.
The S&P 500 hasn't yet hit a limit-down barrier this week; and sometimes the lack of a negative can be a positive itself. NFP looms for Friday.
The Euro may face accentuated selling pressure if Eurozone consumer, industrial, services and economic confidence data for March underscores deteriorating sentiment.
The Australian Dollar may wilt but can that break the near-term AUD/USD uptrend? Weekend Dow Jones futures hint a “risk-off” tilt that may boost the Japanese Yen and haven-linked US Dollar.
It's been a brutal month for the risk-on trade. But a glimmer of hope has shown as the S&P has held on to support with the US Dollar tempering gains.
The US Dollar may rise if consumer sentiment and spending data print worse-than-expected figures and reignite demand for liquidity and push the haven-linked Greenback higher.
The British Pound rose alongside equities as GBP/USD broke above key falling resistance. Ahead, the anti-risk Japanese Yen may weaken if Asia Pacific stocks follow Wall Street’s lead.
Stocks have come back to life this week with the S&P 500 up by more than 18% off of the lows, going along with a strong reversal in the US Dollar.
The British Pound may face liquidation pressure ahead of the BoE rate decision at the same time that traders may be scrambling to the haven-linked USD after jobless claim data is released.
The Canadian Dollar rose but USD/CAD maintained its upward trajectory. This is as the US Dollar is gaining with an immediate vote on the virus relief bill appearing to be delayed.
The US Dollar put in a huge breakout over a ten-day-span. DXY has since found resistance and posed a 23.6% pullback, but are buyers reloading for more gains?