Canadian Dollar/Japanese Yen (CAD/JPY) Exchange Rate
CAD/JPY Pivot Points
CAD/JPY Latest Updates
Canada’s economy began the Covid-19 pandemic and collapse in oil prices on a vulnerable foundation.
After the World Health Organization officially declared Covid-19 a global pandemic, demand for safe-haven assets accelerated.
With Covid-19 crippling the global supply chain, Canada is faced with the impact of rail blockades staged by indigenous and anti-pipeline activists.
A surge in new cases of Covid-19 over the past twelve hours reminded financial markets that the threat to the fragile global economy is persistent.
Safe-haven demand, due to the widening crisis posed by the deadly coronavirus.
Japanese machine orders posted a surprise surge for November, deflating bullish momentum in the CAD/JPY.
While Japanese economic data has been soft, aiding the rally in the CAD/JPY, the Japanese Yen is anticipated to benefit from the return of a risk-off period
As widely expected, the Bank of Japan left its monetary policy unchanged.
As the Bank of Canada kept interest rates unchanged at 1.75%, in a move widely expected by markets, the Canadian Dollar rallied; according to the central bank, the global economic expansion remains intact.
Canadian wholesale trade sales released yesterday surprised to the upside and provided the necessary catalyst to force a breakout in the CAD/JPY above its support zone.
Global trade uncertainty, a potential Bank of Canada interest rate cut and mixed Japanese economic data has created a volatile trading environment for the CAD/JPY.
With the global economy on recession watch, the oil market has been largely depressed which is posing a headwind for the Canadian Dollar;
The Canadian Dollar is the best performing G-10 currency this year, but after elections showed that incumbent Prime Minister Trudeau may be forced into a minority government
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Risk-off sentiment is slowly returning after the initial euphoria that a partial trade deal has been announced between the US and China.
Following a breakdown below its resistance zone, the CAD/JPY descended through its Fibonacci Retracement Fan sequence
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of July 10, 2017.
Get the CAD/JPY Forex signal for October 26, 2016 here.
Get the CAD/JPY Forex signal for October 6, 2016 here.
During the day on Monday, the CAD/JPY pair fell rather significantly.