CAD

The 50 bp cut from the Bank of Canada was well priced-in ahead of this morning’s announcement, and several longer-term resistance levels sit overhead around 1.3900, 1.3950 and 1.4000.

Large speculators flipped to net-short exposure to EUR/USD ahead of the French election. Open interest on CAD futures fell at its fastest pace in nearly one year as the sentiment extreme we warned of plays out. Net-long exposure to AUD/USD futures fell to a 3-year low, and prospects of net-long exposure are now on the horizon with the potential for an RBA hike.

Today's BOC rate decision and an ISM report for the US places USD/CAD on volatility alert, alongside USD/JPY.

Asset managers reached a record level of net-short exposure to VIX futures, days before prices fell to a record low. Traders also remain net-long USD despite losses in recent weeks.

USD/CAD is bouncing from range support while breaking out of a shorter-term falling wedge pattern. Can bulls hold higher-low support to continue the move?

USD/CAD is forming a potential descending triangle pattern into 1.3650 support ahead of key data tomorrow.

In the wake of the implosion of SVB, traders are dialing down their expectations for Fed hawkishness next week...

USD/CAD is showing bullish breakout potential ahead of a busy economic calendar with the Bank of Canada on the calendar for tomorrow.

Friday’s Canadian jobs report will be worth watching - see why!

USDCAD battles hawkish Fed & higher oil prices. Gold could come under pressure as Fed Powell talks hikes.

As the data was compiled ahead of the FOMC meeting its likely there are some distortions in this week’s speculative positioning report.

Canada’s annual inflation rate just rose to 4.8%, its highest level since 1991 - how will that impact USD/CAD?

We expect the BOC to reiterate that the Canadian economy is on track for a full recovery next year, and that an interest rate hike cycle could begin as soon as H1...

Technology stock diverged from the broader selloff on Wall Street as bonds yields were dragged lower as tensions between US and China resurfaced.

When a market is seeing lopsided short positioning in deeply oversold territory after an historic collapse, the risks of an abrupt trend change start to rise...

A batch of UK data kicks off today’s session at 07:00 BST, although it is arguably US CPI which may steal the limelight given it remains a ‘hot’ topic.

Traders were their most bullish on the US dollar against other currencies at their highest level since June 2019, ahead of Friday’s Nonfarm payrolls miss.