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  • H.S. Borji
    Forex » Canadian Dollar: Weekly Outlook
    H.S. Borji - July 14, 2014, 18:40 GMT

    The Canadian dollar was consolidating at multi-week lows against its US counterpart Monday, ahead of an active week that features Canadian monetary policy and US economic data. The loonie, as Canada’s currency is called, was trading at 0.9316 US, little changed from its previous close. The USDCAD pair was trading at 1.0733. Initial support is

  • H.S. Borji

    The Canadian dollar declined sharply against its US counterpart Friday as weak jobs data reminded investors Canada’s recovery still faces headwinds. The loonie, as Canada’s currency is known, declined 0.61 percent to 0.9329 US, after trading at an intraday high of 0.9407 US prior to the jobs report. The USDCAD pair advanced 0.65 percent to

  • H.S. Borji
    Forex » US Dollar Resumes Upward Trend
    H.S. Borji - July 4, 2014, 17:47 GMT

    The US dollar advanced slightly against a basket of currencies Friday, as US Independence Day kept trade volumes light ahead of an active release schedule next week. The US dollar index – a gauge of the greenback’s performance versus six commonly traded peers – advanced 0.08 percent to 80.28. The dollar received a boost this

  • H.S. Borji

    The US dollar advanced against a basket of currencies Thursday, as US employers added more than 200,000 workers for the fifth consecutive month and the unemployment rate fell to a nearly six-year low. The US dollar index, a broad performance measure of the greenback’s strength against six commonly traded peers, advanced 0.31 percent to 80.20.

  • H.S. Borji

    The US service economy eased slightly in June, but remained elevated as new orders supported another strong month of job creation. The Institute for Supply Management’s gauge of national service activity eased from 56.3 to 56. A median estimate of market analysts called for no change to the headline PMI. The US service economy has

  • H.S. Borji

    US employment data take centre stage Wednesday when the ADP Institute provides an initial estimate of June nonfarm payrolls. The ADP report could show the US economy added 213,000 nonfarm payrolls in June, following a gain of 179,000 the previous month. ADP’s May estimate was well below the official payrolls figures released by the Labor

  • H.S. Borji

    The US dollar was on the defensive Friday, as disappointing growth figures continued to weigh on the greenback leading up to the weekend. The popular gauge of the US currency’s strength declined 0.15 percent to 80.10, a five-week low. The dollar index, which pits the greenback against six other major currencies, is on pace to

  • H.S. Borji

    The US dollar rebounded against a basket of currencies Thursday, recovering from a one-month low that was triggered by disappointing growth data. The US dollar index advanced 0.1 percent to 80.30 after falling to an intraday low of 80.10 on Wednesday. Demand for the greenback evaporated Wednesday after the Commerce Department said the US economy

  • The British pound advanced against its US counterpart Friday and is approaching the key 1.70 level after three consecutive days of gains. The GBPUSD advanced 0.24 percent to 1.6964 in the late North American session. The pair reached an intraday high of 1.6991 as the bulls looked to topple 1.70. The trend line shows initial

  • The UK economy expanded at a steady rate in the three months through May, as the domestic-led recovery continues to offer support for a material shift in monetary policy. The UK economy accelerated 0.9 percent between March and May, the National Institute of Economic and Social Research reported today. That follows a gain of 1.1