Thursday’s Bank of Canada rate decision will be rightly overshadowed by Greece and the pending US and Canadian jobs reports on Friday but once the short-term smoke clears, the central bank will have outlined the case for a long-term CAD rally.
Economists and the market see no chance of a rate hike on Thursday, leaving [...]
I was quoted in a Reuters story on CAD today. Nothing groundbreaking but it’s nice to be in the mainstream media.
“It’s a very straightforward trade, as we’re seeing the Canadian dollar slump as risk appetite fades,” said Adam Button, currency analyst [...]
I have been recommending USD/CAD shorts at ForexLive for the past month based on the break of the wedge from September to mid-January.
The trade worked wonderfully at first, quickly falling from the 1.0150 entry point to below parity.Last Monday, Feb 20, the decline looked like the start of another leg down but the pair [...]
I’m torn about USD/CAD.
My base case if for a rally to 1.12 around mid-year but I won’t fight the technicals.
It’s time to take [...]
I have to score the ho-hum day in markets on Friday as a win for the bulls. I expected a further pullback in risk sentiment, especially with the soft Italian bond auction. My feeling is that this means EUR/USD is on its way to 1.44 and USD/CAD down to 0.9800.
I live blogged all day [...]
The news was bang on consensus. The EFSF, bank capital and the Greek haircut were all in line with what everyone was expecting yet markets have reacted as if hit by a bolt of lightening.
To some extent, I get it. I was evidently one among many who thought European leaders wouldn’t be able to [...]
Entered AUD/CAD long at 1.0248 on 12 Aug added on Aug 15 at 1.0295. Exited 23 Aug (+147 pips) at 1.0395 and 30 Aug (+164 pips) at 1.0459. Result: +311 pips.
Entered with a stop at 1.01 and a target of 1.05. Greatest open loss: 80 pips Greatest open gain: [...]
We’ve wrapped up a great AUD/CAD trade by taking profits on the second part at 1.0459 for a gain of 164 pips. We sold the first part on Aug. 23 for a gain of 147 pips. The combined net gain of the trade was 311 pips. For those with interest earning accounts, this trade would [...]
We like the Australian dollar ahead of the RBA minutes for a short-term trade and since AUD/CAD has acted as we expected, we’re going to add to our longs here at 1.0295.
We bought AUD/CAD on Friday at 1.0248. Read about it here:
Our catalyst for buying now is today’s release of [...]
Technicals were the primary driver for a long AUD/CAD trade I entered Friday. I announced the trade on twitter via FX_Button.
Every Friday, shortly before the market close, I take a look at the weekly charts and see if anything jumps out. This turnaround, along with probably reversals in CHF crosses caught my attention. [...]
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