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Forex Trading, Market News & Technical Analysis

Today’s Trading Edge: Loonie soars after OPEC reaches a production cut deal, first in 8 years

Posted by WorldWideMarkets . on Sep 28, 2016 8:04:00 PM

OPEC agreed to drop production to a range of 32.5-33.0M barrels per day after the third day of meetings.  Most analysts expected no deal to be reached.  Stocks and oil related currencies rallied following the news.  The outline of the deal suggest the lower end of the production equates to a drop of almost 750K barrels per day from what OPEC produced in August.  Note OPEC pumps about 40% of global oil production.  Many details still need to be finalized. Iran is expected not to freeze production but other OPEC members will need to cut output.


Topics: Canada, Loonie, USOIL, $OIL, USDCAD, Canadian

Today’s Trading Edge: USD/CAD rallies as markets focus on recent Canadian data and not today's oil rally

Posted by WorldWideMarkets . on Sep 26, 2016 8:24:01 PM



Topics: Canada, USDCAD, Dollar-Cad, Cad, Canada Economy

Today’s Trading Edge: EUR/CAD tentatively recaptures the 200-day SMA and forms a bearish Gartley pattern

Posted by WorldWideMarkets . on Mar 20, 2016 9:19:02 PM



Topics: Canada, Loonie, Bank of Canada, Canadian, EURCAD

Today’s Trading Edge: USD/CAD closes below 100-day SMA as Oil Ministers discuss a March meeting

Posted by WorldWideMarkets . on Feb 25, 2016 7:50:51 PM

USD/CAD continues its recent bearish correction as oil prices rally to a 4-week high. Oil prices benefited from the idea that both oil ministers from OPEC and non-OPEC countries are organizing a meeting to discuss an output freeze. Venezuelan Oil Minister Pinto stated that Saudi Arabia, Russia, and Qatar have agreed on a March meeting. Qatar’s Energy Minister believes an output freeze would drive oil back above the $50 a barrel.


Topics: Canadian dollar, Canada, Loonie, CADJPY, Bank of Canada, USDCAD

Today’s Trading Edge: USD/CAD rallies to 13-year highs on lower oil prices

Posted by WorldWideMarkets . on Jan 12, 2016 6:37:18 PM



Topics: Canada, Loonie, USDCAD, Cad


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