- Canadian Dollar Outperforms While Other Leading Currencies Lag vs. US Dollar
- Burger King Worldwide Inc. Officially AnnouncesAcquisition of Tim Hortons Inc.
- Loonie Strength May Reflect Expected Pickup in US-Canada M&A Capital Flows
The Canadian Dollar traded higher against its US counterpart today after rising 0.29 percent against the greenback in the prior session. Interestingly, this came against the backdrop of better-than-expected US Durable Goods Orders data and a strong Consumer Confidence report, which might have been expected to drive the US unit higher. Indeed, though some major currencies like the Australian Dollar and the Japanese Yen remained relatively unchanged, most top currencies (NZD, CHF, GBP, EUR) moved lower, making the Loonie something of an outlier.
The Canadian Dollar may have found strength on the back of the announcement of a US$11 billion acquisition of Tim Hortons Inc., a company based in Canada, by US-based Burger King Worldwide Inc. The announcement’s supportive implications for the Canadian unit may go beyond expectations of deal-specific capital flows. The transaction could be perceived as a poster child for further such M&A activity as US-based firms look to move abroad in search of favorable corporate tax policies (a practice known as “tax inversion”).
On the technical front, Currency Strategist Ilya Spivak sees a near-term USDCAD support at 1.0946, marked by a rising trend line. Spivak argues that a break below this boundary on a daily closing basis may open the door for a decline below the 1.09 figure.
USDCAD [30 mins – 08/27/2014]. Chart created using FXCM Marketscope.
ForexAmid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.
Investing BasicsVirtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
- No results found.