USD/CAD - US Dollar to Canadian Dollar

Crude oil futures closed sharply higher on Tuesday after reversing earlier losses. Following a steady opening, the market fell sharply as investors reacted to negative reports from several bank including BNP Paribas, Barclays and Goldman Sachs. Late in the session, oil prices spiked higher after an industry report showed a greater than expected decline in … Continue reading Crude Spikes Higher after API Report Shows Bigger-than-Expected Draw

The U.S. Dollar Index futures contract posted a two-sided trade last week but still managed to close higher for the period. The index started the week strong before hitting its high for the week with the release of the minutes from the Federal Reserve’s June meeting. After a two day set-back, the index clawed back … Continue reading U.S. Dollar Supported by Fed Minutes, Strong Jobs Data

The Canadian dollar ended the week as the strongest major currency because the events during the week’s trading fueled speculations that the Bank of Canada will hike interest rates as soon as the next week. Markets considered the comments of BoC Governor Stephen Poloz as a sign that the central bank is ready to raise interest rates. Solid employment data supported the case for monetary tightening. All those factors reinforced the view that the BoC will hike rates on July … Continue reading Canadian Dollar Ends Week Strongest amid BoC Hike Speculations

The U.S. Dollar fell sharply last week against a basket of currencies as talk of higher global interest rates dominated upbeat U.S. economic data and hawkish commentary from Fed officials. European Central Bank The plunge in the September U.S. Dollar Index futures contract began last Tuesday when the Euro soared to a nine-day following hawkish … Continue reading Central Bank Rate Hike Chatter Dominates Forex Markets