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USD/CAD

  • #3,501
  • Jan 17, 2013 3:46am Jan 17, 2013 3:46am
Quoting 1candlepower
anyone guess what's goin on with the canadian dollar?

been drifting down relative to usd for past week, and now as crude keeps drifting up (plus a nice filip today) cad goes down even further.

is canada taking a lesson from japan? is the BOC steadily dumping cad just to get a better rate? doesn't seem to be any good economic reason for .uc to keep going further up every chance it gets...

we gonna start to see ccy wars every few days?
  • #3,502
  • Jan 17, 2013 4:32am Jan 17, 2013 4:32am
Quoting 1candlepower
we gonna start to see ccy wars every few days?

crude keeps rising. .uc keeps rising.

weird.
  • #3,503
  • Jan 17, 2013 5:22am Jan 17, 2013 5:22am
Quoting 1candlepower
crude keeps rising. .uc keeps rising.

weird.

based on total lack of interest in this pair, you could conclude there are few open positions and little interest in opening new ones. the lack of liquidity would mean it can be pushed around at very little expense. that means it can go ANYWHERE.

best trade in this pair is NO TRADE.
  • #3,504
  • Jan 17, 2013 6:30am Jan 17, 2013 6:30am
Quoting 1candlepower
based on total lack of interest in this pair, you could conclude there are few open positions and little interest in opening new ones. the lack of liquidity would mean it can be pushed around at very little expense. that means it can go ANYWHERE.

best trade in this pair is NO TRADE.


crude has risen to 4 mo high, front month usdx is down now around 79.6 and .uc still keeps going up... this has to be a .uc bear trap.

someone is begging you to short it! (not sayin i'd go long though)
  • #3,505
  • Jan 17, 2013 7:55am Jan 17, 2013 7:55am
just look at this baby go...
Twitter: @forexpokerpro
  • #3,506
  • Jan 17, 2013 7:57am Jan 17, 2013 7:57am
...return to sanity at last.

now cad has upbeat news for next door neighbor and trading partner (US) plus extending crude price to justify strength ... reason enough for .uc to fall even though usdx (now above 79.7) is rising.

  • #3,507
  • Jan 18, 2013 6:15am Jan 18, 2013 6:15am
Quoting Compulsive
Added another long at .98159

moving like molasses but + - sl at 98.65
  • #3,508
  • Jan 18, 2013 9:26am Jan 18, 2013 9:26am
Quoting Compulsive
moving like molasses but + - sl at 98.65

got a nice lead on it now well done
"Millionaires don't use astrology, billionaires do"
  • #3,509
  • Jan 21, 2013 11:36am Jan 21, 2013 11:36am
Quoting OrionsWay
got a nice lead on it now well done
Moved all stops at 99.00
  • #3,510
  • Jan 23, 2013 4:30am Jan 23, 2013 4:30am
Bank of Canada to downgrade growth forecast on Wednesday

By Adam Button || January 22, 2013 at 20:17 GMT
|| 4 comments || Add comment
The Bank of Canada will release its interest rate announcement and the quarterly Monetary Policy Report tomorrow at 10 am ET (1500 GMT).
There are zero expectations for a change in policy or rhetoric so the main item of interest will be the economic forecasts.
Two week’s ago the Bank of Canada’s Macklem said “near-term momentum now appears to be slightly softer than previously anticipated” and that will be reflected in the updated forecasts.
The current BOC forecast is for 2.3% growth in 2012 and 2.4% in 2014. The consensus estimates are 1.8% and 2.4%, respectively. Headlines that the BOC has revised down growth could spark a negative knee-jerk reaction for the Canadian dollar but as long as estimates remain at or above the consensus, the initial reaction will fade.

Category: All, Americas, Central Banks, Featured, Regions
Tags: bank of canada, BOC, Canada
Add a comment

4 Responses to “Bank of Canada to downgrade growth forecast on Wednesday”

 

  1. lac on January 22nd, 2013 20:26 GMT http://0.gravatar.com/avatar/2ba17ee...0&d=retro&r=PG
    i’d like to aks you what can happen with usdcad?
    is it possible to go upper to parity?
    thanks
  2. Neil on January 22nd, 2013 20:32 GMT http://0.gravatar.com/avatar/4913fbd...0&d=retro&r=PG
    back to parity or 1.0055 and down again?
  3. Adam Button on January 22nd, 2013 20:52 GMT http://1.gravatar.com/avatar/b38e4b7...0&d=retro&r=PG
    I think we could see parity on weak growth forecasts tomorrow, lac. For now, 0.9950 is holding up well.

  • #3,511
  • Jan 23, 2013 8:44am Jan 23, 2013 8:44am
Quoting Compulsive
Moved all stops at 99.00
still long - stop was missed by 2 pips - sold 1/2 my position at .99400 yesterday - - 17 minutes and and we might see some firework- hopefully to the upside
  • #3,512
  • Jan 23, 2013 9:09am Jan 23, 2013 9:09am
Quoting Compulsive
still long - stop was missed by 2 pips - sold 1/2 my position at .99400 yesterday - - 17 minutes and and we might see some firework- hopefully to the upside
moved all stops to .994500
  • #3,513
  • Jan 24, 2013 1:01pm Jan 24, 2013 1:01pm
Quoting Compulsive
Added another long at .98159

flat - out at 1.00325 (216 pips) - yes I know, not like the Yen crosses that does it in one day
Still long the GBP/NZD with an average of 1.88813
  • #3,514
  • Jan 25, 2013 8:02am Jan 25, 2013 8:02am
Quoting Compulsive
flat - out at 1.00325 (216 pips) - ....:
maybe I should have hang on longer -what a thrust
  • #3,515
  • Jan 25, 2013 8:35am Jan 25, 2013 8:35am
With the news from America saying there is positive news from the job market, and Canada playing it safe, an increase in potential profits are great for USD/CAD. Got in at 0.99931 and would like to ride this for a while.
  • #3,516
  • Jan 26, 2013 10:22pm Jan 26, 2013 10:22pm
i think USD/CAD next week will bearish



they declined total contact in CME guop

=>> bigboys dont belive bullish

do you think?
  • #3,517
  • Jan 29, 2013 9:30am Jan 29, 2013 9:30am
Hope to make all who are long currencies towards the USD happy with this post.

This is what I see in the Dollar Index going forward. Maybe 79 hit by the end of the week.

http://www.forexfactory.com/attachme...1&d=1359472549

The 80.20-30 level of resistance has been consistent and held all the time the EUR/USD was supported by the 1.3260 level.

By breaking the 79.70 level the Dollar Index confirmed the 1st target printing right at previous lows, in the 79 area. That's where I see DX in the coming days maybe - as anticipated - by the end of the week.

Notice that the 79.30 area has been previous sloppy support and is here a broken line. I think there is also broken participation at those levels. Do not anticipate a reaction in that area.

Trade safe & good luck
"markets traded by programs/HFT offer a significant trading edge..."
  • #3,518
  • Jan 29, 2013 10:08am Jan 29, 2013 10:08am
Quoting fibstalker
Hope to make all who are long currencies towards the USD happy with this post.

This is what I see in the Dollar Index going forward. Maybe 79 hit by the end of the week.


The 80.20-30 level of resistance has been consistent and held all the time the EUR/USD was supported by the 1.3260 level.

By breaking the 79.70 level the Dollar Index confirmed the 1st target printing right at previous lows, in the 79 area. That's where I see DX in the coming days maybe - as anticipated - by the end of the week.

Notice that the 79.30 area has been previous...
- I agree with you.
Attached Image (click to enlarge)
Click to Enlarge Name: uc m30.png Size: 19 KB
  • #3,519
  • Jan 29, 2013 12:34pm Jan 29, 2013 12:34pm
Quoting Ziko9o8
- I agree with you.
That's a nice confirmation. Thanks!
"markets traded by programs/HFT offer a significant trading edge..."
  • #3,520
  • Jan 29, 2013 12:36pm Jan 29, 2013 12:36pm
This is my view on USD/CAD after recent USDX weakness and short setup confirmation:

http://www.forexfactory.com/attachme...1&d=1359481303

When price failed the 1.0050 level, the "M-for-Murder" pattern was possible and already in the making. The 'M-for-Murder' pattern started a push lower into the 1.0030 area, the next level of daily support. The failure of longs started within the area of a weekly short setup.

I now see 2 possible scenarios going forward:

Scenario 1. The 1.0030 area is the next extension long on the daily chart. If it holds we should have some sort of retest of highs (see scenario 2 below). If the 1.0030 area breaks we have a continuation lower and a confirmation of a weekly short setup. Notice that this is not going to be straight down, we will have some sort of tradable setup short after this. Let's be patient.

Scenario 2. If the 1.0030 holds then it means bulls are participating to the next move higher into recent highs and even new highs. I do not anticipate this scenario due to the short setup in the Dollar Index (but anything can happen).

Hope that helps.
Have a great eve.
"markets traded by programs/HFT offer a significant trading edge..."
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