Canadian Dollar Holds Gains

The Canadian dollar managed to hang on to most of last week’s gains in quiet trading, overnight.  USDCAD is being weighed down by the latest IMF forecast that lowered US growth estimates while raising Canada’s forecast.  The Canadian dollar got another boost form a rebound in oil prices during the European session.  There is only minor Canadian data on tap

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Greenback Ails on US Healthcare Debacle

The US dollar is ill.  Another healthcare bill failure.  Another US dollar plunge. Asia traders were unimpressed when they learned that the Republicans were unable to secure enough votes within their own party to repeal Obamacare. Traders concluded that President Trump’s aggressive tax cut plan would meet a similar fate.  Without the stimulus from that initiative, the Fed would have

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Slow Start To Slow Week

The US dollar opened in New York with very little change compared to Friday’s close. The week started off slow helped by Marine Day holiday’s in Japan. Better than expected China GDP and Retail Sales data underpinned the commodity bloc currencies but despite the upside surprises, it wasn’t enough to ignite a fresh rally. AUDUSD bounced within a 0.7804-34 range.

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Greenback Marking Time

The US dollar marched in place in another dull overnight session characterized by narrow ranges.  The data cupboard was bared and Fed Chair Janet Yellen’s Humphrey Hawkins testimony is tomorrow. Still, some currency pairs had their moments. AUDUSD was traded higher, supported by better than expected economic data The National Australia Bank (NAB) Business Conditions survey rose to 15 from

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US Dollar-Slow and Steady

The US dollar started the trading week with a slow and steady rise, supported by Friday’s employment report as traders wait to hear from a slew of Fed speakers and Fed Chair Janet Yellen on Tuesday and Wednesday Fed Chair Janet Yellen’s semi-annual testimony to Congress (formerly called Humphrey-Hawkins) is slated for Wednesday.  The testimony should not deviate much from

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