FOREX TradingCharts.com

Forex News: Canadian Dollar Slides Amid Risk Aversion

Canadian Dollar Slides Amid Risk Aversion

04/26/2019 - 07:05:00 (RTTNews)

(RTTNews) - The Canadian dollar fell against its major counterparts in the European session on Friday amid risk aversion, as investors digested a barrage of earnings reports and looked ahead to the release of U.S. GDP data later in the day for additional clues on the health of the world's largest economy.

The pace of U.S. growth is expected to slow to 2.1 percent in the first quarter from 2.2 percent in the fourth quarter.

Trade talks also remained in focus after U.S. President Donald Trump said on Thursday he would soon host Chinese leader Xi Jinping at the White House, suggesting the two sides may be close to finishing a trade deal.

Oil prices fell on hopes of OPEC raising production to offset falling exports from Iran following U.S. sanctions. Crude for June delivery fell $1.07 to $64.14 per barrel.

The currency rose against its major counterparts in the Asian session.

The loonie declined to 1.5040 against the euro, from more than a 2-week high of 1.4994 hit at 8:45 pm ET. The next possible support for the loonie is seen around the 1.52 level.

After rising to a 2-day high of 1.3468 against the greenback at 10:30 pm ET, the loonie reversed direction with the pair trading at 1.3498. If the loonie drops further, 1.37 is possibly seen as its next support level.

The loonie depreciated to a 2-day low of 0.9501 against the aussie from Thursday's closing value of 0.9460. The loonie is poised to find support around the 0.965 level.

The loonie pared gains to 82.69 against the yen, from a high of 83.01 touched at 9:15 pm ET. Next key support for the loonie is likely seen around the 80.5 level.

Data from the Ministry of Economy, Trade and Industry showed that Japan retail sales rose a seasonally adjusted 0.2 percent on month in March.

That beat expectations for a flat reading and was down from the 0.4 percent increase in February.

Looking ahead, the U.S. GDP data for the first quarter and University of Michigan's final consumer sentiment index for April are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Mixed Ahead Of U.S. Existing Home Sales (11 hr(s), 19 min(s), 54 sec(s) ago)
(RTTNews) - The U.S. existing home sales for April are scheduled for release at 10:00 am ET Tuesda ...Full Story»

Canadian Dollar Higher On Rising Oil Prices (12 hr(s), 22 min(s), 54 sec(s) ago)
(RTTNews) - The Canadian dollar drifted higher against its major counterparts in the European sess ...Full Story»

Pound Falls On Brexit Concerns (14 hr(s), 10 min(s), 54 sec(s) ago)
(RTTNews) - The pound declined against its major counterparts in the European session on Tuesday, ...Full Story»

U.S. Dollar Appreciates Against Majors (18 hr(s), 04 min(s), 54 sec(s) ago)
(RTTNews) - The U.S. dollar drifted higher against its major counterparts in the early European se ...Full Story»

U.S. Dollar Reverses From Early Highs Against Most Majors (11 hr(s), 04 min(s), 54 sec(s) ago)
(RTTNews) - The U.S. dollar declined against its most major counterparts in the European session o ...Full Story»

Aussie Up After Australia Conservative Coalition's Surprise Election Victory (17 hr(s), 34 min(s), 54 sec(s) ago)
(RTTNews) - The Australian dollar gained ground against its major opponents in the Asian session o ...Full Story»

Euro Little Changed Following German PPI (19 hr(s), 22 min(s), 54 sec(s) ago)
(RTTNews) - After the release of German producer prices for April at 2:00 am ET Monday, the euro c ...Full Story»

Euro Retreats Ahead Of German PPI (19 hr(s), 31 min(s), 53 sec(s) ago)
(RTTNews) - Destatis will release German producer prices for April at 2:00 am ET Monday. Ahea ...Full Story»

Search

FOREX NEWS

Dollar Mixed Ahead Of U.S. Existing Home Sales

05/21/2019 - 10:06 AM (RTTNews)
(RTTNews) - The U.S. existing home sales for April are scheduled for release at 10:00 am ET Tuesda ...Full Story>>

Canadian Dollar Higher On Rising Oil Prices

05/21/2019 - 09:03 AM (RTTNews)
(RTTNews) - The Canadian dollar drifted higher against its major counterparts in the European sess ...Full Story>>

Pound Falls On Brexit Concerns

05/21/2019 - 07:15 AM (RTTNews)
(RTTNews) - The pound declined against its major counterparts in the European session on Tuesday, ...Full Story>>

U.S. Dollar Appreciates Against Majors

05/21/2019 - 03:22 AM (RTTNews)
(RTTNews) - The U.S. dollar drifted higher against its major counterparts in the early European se ...Full Story>>

U.S. Dollar Reverses From Early Highs Against Most Majors

05/20/2019 - 10:22 AM (RTTNews)
(RTTNews) - The U.S. dollar declined against its most major counterparts in the European session o ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.