Tag - cad - canadian dollar

Global stocks tumble and the dollar surges as the UK discovers a new strain of the Covid-19 coronavirus.

The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.

US stocks are set to open mixed, ahead of the ‘quadruple witching’ today as December options contracts on stocks, indices, and other products all expire.

Canada's retail sales will be out on Friday at 15:30 MT time.

Asian equity markets traded higher as the region received a tailwind from Wall Street where all major indices were lifted amid stimulus hopes.

The US dollar keeps dipping further, while riskier assets are rising as investors await the FOMC meeting at 21:00 MT time.

EUR/USD, GBP/USD, AUD/USD, and XAU/USD have reached interesting technical levels. Traders are hoping that the US authorizes the Pfizer vaccine this week. They also want to know how the dinner between the UK Prime Minister Boris Johnson and European Commission Ursula von der Leyen goes and how it will influence Brexit.

The Bank of Canada (BOC) will release the rate statement with an update on the interest rate on December 9, at 17:00 MT time.

World shares and other risk assets fell on Monday as growing risks of a no-deal Brexit that hit the pound hard and fresh Sino-U.S. tensions offset bets over more fiscal and central bank stimulus in Europe and the United States.

The mix of economic reports from Canada and the USA will have a huge impact on the pair! Get ready with us!

Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.

The USD has become soft. What's the tactical outlook against its main counterparts?