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Today's Forex News

USD/CAD retreats from multi-month top, eyes mid-1.3600s ahead of Canadian jobs data

The USD/CAD pair meets with some supply during the Asian session on Friday and erodes a part of the previous day's strong gains to 1.3700 neighbourhood, or its highest level since March 28. Spot prices currently trade around the 1.3670-1.3665 region, down 0.10% for the day, though the fundamental backdrop warrants some caution for aggressive bearish traders and positioning for any meaningful corrective slide.FX Street2023-09-08

USD/CAD Price Analysis: Defends 1.3650 resistance-turned-support ahead of Canadian jobs data

The USD/CAD pair comes under some selling pressure on Friday and reverses a part of the previous day's positive move to the 1.3700 neighbourhood, or its highest level since late March. Spot prices, however, manage to rebound a few pips from the daily low and trade around the 1.3665-1.3670 area during the first half of the European session, down less than 0.15% for the day.FX Street2023-09-08

USD/CAD retreats from multi-month top, eyes mid-1.3600s ahead of Canadian jobs data

The USD/CAD pair meets with some supply during the Asian session on Friday and erodes a part of the previous day's strong gains to 1.3700 neighbourhood, or its highest level since March 28. Spot prices currently trade around the 1.3670-1.3665 region, down 0.10% for the day, though the fundamental backdrop warrants some caution for aggressive bearish traders and positioning for any meaningful corrective slide.FX Street2023-09-08

Daily Forex News and Watchlist: GBP/CAD

Canada is printing its labor market numbers today! How do you think it will affect GBP/CAD's potential short-term reversal pattern?Babypips2023-09-08

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Is Mostly Flat Ahead Of The Weekend

Trading is calm in the absence of major catalysts.FXEmpire2023-09-08

USD/CAD: A Hot Canadian Employment/Wage Report Sends the Loonie Higher

Canada's economy isn't quite ready to cool. The latest Canadian employment report showed hiring bounced back in August, doubling expectations.Action Forex2023-09-08

Additional News:

USD/CAD Dips on Solid Canadian Data but Broader Outlook Tied to US Inflation

USD/CAD slides in reaction to strong employment growth in Canada, yet the broader direction of the pair could be more closely tied to the forthcoming U.S. inflation report next week.DailyFX2023-09-08

USD/CAD cracks on upbeat Canadian labor market data

The USD/CAD pair faces an intense sell-off as Statistics Canada has reported better-than-anticipated labor market data. The Canadian labor market witnessed fresh additions of 39.9K payrolls in August, more than doubling the expectations of 15K.FX Street2023-09-08

USD/CAD Price Analysis: Defends 1.3650 resistance-turned-support ahead of Canadian jobs data

The USD/CAD pair comes under some selling pressure on Friday and reverses a part of the previous day's positive move to the 1.3700 neighbourhood, or its highest level since late March. Spot prices, however, manage to rebound a few pips from the daily low and trade around the 1.3665-1.3670 area during the first half of the European session, down less than 0.15% for the day.FX Street2023-09-08

USD/CAD retreats from multi-month top, eyes mid-1.3600s ahead of Canadian jobs data

The USD/CAD pair meets with some supply during the Asian session on Friday and erodes a part of the previous day's strong gains to 1.3700 neighbourhood, or its highest level since March 28. Spot prices currently trade around the 1.3670-1.3665 region, down 0.10% for the day, though the fundamental backdrop warrants some caution for aggressive bearish traders and positioning for any meaningful corrective slide.FX Street2023-09-08

Daily Forex News and Watchlist: GBP/CAD

Canada is printing its labor market numbers today! How do you think it will affect GBP/CAD's potential short-term reversal pattern?Babypips2023-09-08

USD/CAD: A Hot Canadian Employment/Wage Report Sends the Loonie Higher

Canada's economy isn't quite ready to cool. The latest Canadian employment report showed hiring bounced back in August, doubling expectations.Action Forex2023-09-08

USD/CAD Dips on Solid Canadian Data but Broader Outlook Tied to US Inflation

USD/CAD slides in reaction to strong employment growth in Canada, yet the broader direction of the pair could be more closely tied to the forthcoming U.S. inflation report next week.DailyFX2023-09-08

USD/CAD cracks on upbeat Canadian labor market data

The USD/CAD pair faces an intense sell-off as Statistics Canada has reported better-than-anticipated labor market data. The Canadian labor market witnessed fresh additions of 39.9K payrolls in August, more than doubling the expectations of 15K.FX Street2023-09-08

USD/CAD Price Analysis: Defends 1.3650 resistance-turned-support ahead of Canadian jobs data

The USD/CAD pair comes under some selling pressure on Friday and reverses a part of the previous day's positive move to the 1.3700 neighbourhood, or its highest level since late March. Spot prices, however, manage to rebound a few pips from the daily low and trade around the 1.3665-1.3670 area during the first half of the European session, down less than 0.15% for the day.FX Street2023-09-08

USD/CAD retreats from multi-month top, eyes mid-1.3600s ahead of Canadian jobs data

The USD/CAD pair meets with some supply during the Asian session on Friday and erodes a part of the previous day's strong gains to 1.3700 neighbourhood, or its highest level since March 28. Spot prices currently trade around the 1.3670-1.3665 region, down 0.10% for the day, though the fundamental backdrop warrants some caution for aggressive bearish traders and positioning for any meaningful corrective slide.FX Street2023-09-08

Daily Forex News and Watchlist: GBP/CAD

Canada is printing its labor market numbers today! How do you think it will affect GBP/CAD's potential short-term reversal pattern?Babypips2023-09-08

The Swiss Franc: A Historical Perspective

The Swiss Franc, often symbolized as CHF (Confoederatio Helvetica Franc), is the official currency of Switzerland and Liechtenstein. Its history is a fascinating journey that reflects the economic and political evolution of Switzerland, a country renowned for its stability and neutrality.

The Swiss Franc's story begins in the early 19th century. Before 1798, Switzerland was a loose confederation of cantons, each issuing its own currency. This system was chaotic, with over 860 different coins in circulation. The French invasion in 1798 brought about the Helvetic Republic, which attempted to introduce a standardized currency, the Swiss Franc, modeled after the French Franc. However, this was met with resistance, and the old system of cantonal currencies returned after the collapse of the Helvetic Republic in 1803.

The real turning point came in 1848 when the Swiss Federal Constitution came into effect, centralizing many powers previously held by the cantons, including the right to issue money. The Swiss Federal Assembly passed the Federal Coinage Act in 1850, establishing the Swiss Franc as the single official currency of Switzerland. The Swiss Franc was pegged to the French Franc at par, reflecting the close economic ties between the two countries.

The Swiss National Bank (SNB) was established in 1907, taking over the issuance of banknotes from private banks. The SNB's mandate was to ensure the stability of the Swiss Franc, a task it has performed admirably over the years. The Swiss Franc was initially on a gold standard, with 1 Franc equal to 0.290322 grams of gold. However, the gold standard was suspended during World War I, and Switzerland moved to a system of managed currency.

During the Bretton Woods era (1944-1971), the Swiss Franc was pegged to the U.S. Dollar, with a value of 4.375 Francs to the Dollar. However, Switzerland was not a signatory to the Bretton Woods Agreement, allowing it to avoid the currency instability that affected many other countries when the system collapsed in 1971.

Since the collapse of Bretton Woods, the Swiss Franc has been a free-floating currency. The SNB has occasionally intervened in the currency markets to prevent the Franc from appreciating too much, as Switzerland's economy is heavily dependent on exports. The Swiss Franc is often seen as a "safe haven" currency, attracting investors during times of global economic uncertainty.

In 1980, Switzerland began issuing coins made of cupronickel instead of silver, reflecting the rising cost of silver. The designs on Swiss coins have remained remarkably consistent since 1879, featuring the Swiss cross and the phrase "Confoederatio Helvetica", the Latin name for the Swiss Confederation.

In 2000, the SNB introduced a new series of banknotes, each featuring a famous Swiss personality. These were replaced in 2016 by the current series, which features abstract designs representing various aspects of Swiss society.

The Swiss Franc has been remarkably stable over its history, reflecting the stability of the Swiss economy and political system. This stability, combined with Switzerland's strong tradition of banking secrecy, has made the Swiss Franc a popular currency for international banking.

In conclusion, the history of the Swiss Franc is a testament to Switzerland's economic resilience and political stability. From its origins in the turbulent 19th century to its status as a "safe haven" currency in the 21st, the Swiss Franc has played a crucial role in Switzerland's economic success. As we look to the future, the Swiss Franc will undoubtedly continue to reflect the strengths and challenges of this unique Alpine nation.

The Euro: A Historical Perspective

The Euro, symbolized as EUR (€), is the official currency of the Eurozone, a monetary union consisting of 19 of the 27 member states of the European Union (EU). The history of the Euro is a fascinating narrative that mirrors the economic, political, and social evolution of the European continent.

The idea of a single European currency dates back to the post-World War II period, when European leaders sought to promote economic integration as a way to prevent future wars. However, it wasn't until the 1990s that the idea began to take shape.

The Maastricht Treaty, signed in 1992, laid the groundwork for the Euro. It set out the criteria for Eurozone membership, including price and exchange rate stability and sound public finances. The treaty also established the European Central Bank (ECB) and the European System of Central Banks.

The Euro was officially launched on January 1, 1999, when 11 EU member states irrevocably locked their exchange rates and handed over their monetary policy to the ECB. However, the Euro was initially a "virtual" currency used only for electronic payments and accounting purposes, while national currencies continued to circulate in physical form.

Euro banknotes and coins were introduced on January 1, 2002, and national currencies were gradually phased out. The introduction of the Euro banknotes and coins was one of the largest monetary changes in history, affecting hundreds of millions of people.

The Eurozone has since expanded to include 19 countries. The Euro has become the second most traded currency in the world after the U.S. Dollar and the second largest reserve currency.

The Euro has faced significant challenges since its inception. The global financial crisis of 2008 and the subsequent Eurozone debt crisis exposed structural weaknesses in the Eurozone's architecture. These crises led to high unemployment and recession in several Eurozone countries and required international bailouts for Greece, Ireland, Portugal, Spain, and Cyprus.

In response to the crisis, Eurozone leaders implemented a series of reforms, including stricter fiscal rules, a banking union, and new mechanisms for financial stability. The ECB also played a crucial role in stabilizing the Euro through unconventional monetary policies, including negative interest rates and large-scale asset purchases.

Despite these challenges, the Euro has contributed to economic stability in the Eurozone by eliminating exchange rate fluctuations and promoting economic integration. It has also facilitated travel and trade among Eurozone countries and played a significant role in shaping the global monetary system.

In conclusion, the history of the Euro reflects the broader economic and political history of Europe. From its origins in the aftermath of World War II to its role in the modern European economy, the Euro embodies the economic transformations that have shaped Europe. As Europe continues to evolve, the Euro will undoubtedly continue to play a crucial role in the continent's economic narrative. The future of the Euro will be shaped by how effectively the Eurozone navigates its economic challenges and capitalizes on its opportunities. As we look to the future, the Euro, like Europe itself, stands at the threshold of potential and promise.