Should we keep an eye on the Canadian dollar’s rise amid signs of strength?

Should we keep an eye on the Canadian dollar’s rise amid signs of strength?

17.11.2021

Yesterday, the three major U.S. stock indices all extended their gains, creating a risk-on sentiment characterized by rising stock prices, higher interest rates, and lower oil prices. The U.S. October industrial production index, released yesterday, came in at 1.6%, exceeding the market forecast of 0.7%. WTI crude oil fell slightly to $79.00.

In line with the rise in the U.S. dollar, the Canadian dollar has maintained its momentum, with the CAD/JPY pair climbing from 91.06 to 91.48. Meanwhile, the USD/CAD pair has also risen from 1.249 to 1.256, shifting from a corrective decline on the daily chart to a rebound. We will need to carefully assess whether this upward trend will continue, while monitoring the strength of the U.S. dollar.

Today’s schedule includes the UK Consumer Price Index, UK Retail Price Index, and UK Producer Price Index at 4:00 PM; the Eurozone Consumer Price Index at 7:00 PM; South African Retail Sales at 8:00 PM; the US MBA Mortgage Applications Index at 9:00 PM; the Canadian Consumer Price Index and Canadian House Price Index, along with US Housing Starts and US Building Permits, at 10:30 PM;at 23:00, remarks by a Bank of England MPC member; at 23:10, remarks by U.S. Federal Reserve Bank of New York President Williams; at 24:30, U.S. weekly crude oil inventories; at 25:00, remarks by U.S. Federal Reserve Governor Bowman; at 27:00, U.S. 20-year Treasury auction; and at 6:05 the following day, remarks by U.S. Federal Reserve Bank of Chicago President Evans.We should pay close attention to the overlapping remarks from key figures during U.S. trading hours and assess currency strength.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed