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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 Evolution of the Japanese Yen: A Historical Perspective

The Japanese yen, symbolized as JPY or ¥, is the official currency of Japan and a significant player in the global economy. Its history is a fascinating tale of economic development, strategic decision-making, and national identity. This article delves into the origins, development, and significant milestones of the Japanese yen.

The yen was introduced in 1871, during the Meiji era, as part of the modernization drive of the Japanese economy. Before this, Japan had a complex system of currency, with a variety of feudal domains issuing their own coins. The New Currency Act aimed to simplify and centralize this system, replacing it with a decimal-based currency, the yen. The yen was divided into 100 sen and 1000 rin, mirroring the European currency systems of the time.

The early yen was a gold standard currency, pegged to gold at a rate similar to that of the US dollar or the British pound. This was a strategic move to facilitate trade and integration with the global economy. However, the high value of the yen led to outflows of gold from Japan, causing economic instability.

In response to this, Japan abandoned the gold standard in 1931, following the trend set by the UK and the US during the Great Depression. The yen was devalued, and exchange controls were introduced to stabilize the economy. During World War II, the yen was further devalued, and the economy suffered from hyperinflation.

Post-war, the yen was pegged to the US dollar under the Bretton Woods system at a rate of 360 yen to 1 dollar. This fixed exchange rate system helped stabilize the Japanese economy and facilitated the country's post-war recovery and rapid economic growth. However, the Bretton Woods system collapsed in 1971, and the yen became a free-floating currency in 1973. This allowed the yen's value to be determined by the foreign exchange market, reflecting Japan's economic conditions more accurately.

The 1980s saw the yen strengthen significantly against the US dollar, a period known as the 'Endaka' or high-yen era. This was due to Japan's booming economy and large trade surpluses. However, the bubble burst in the early 1990s, leading to a period of economic stagnation known as the 'Lost Decade'.

In terms of physical currency, the yen has seen several changes. Coins come in denominations of 1, 5, 10, 50, 100, and 500 yen. The designs on these coins, featuring iconic symbols like the chrysanthemum and sakura blossoms, reflect Japan's rich cultural heritage. Banknotes come in denominations of 1000, 5000, and 10,000 yen, with a new series introduced in 2019 featuring prominent Japanese figures and cultural symbols.

The yen has also been influenced by significant economic events, such as the Asian Financial Crisis of 1997 and the Global Financial Crisis of 2008. These crises led to fluctuations in the value of the yen and prompted policy responses from the Bank of Japan.

Today, the Japanese yen is one of the most traded currencies in the world, reflecting Japan's significant role in the global economy. It serves not only as a medium of exchange within Japan but also as a safe-haven currency in times of global economic uncertainty.

In conclusion, the history of the Japanese yen is a testament to Japan's economic resilience and strategic adaptability. From its early days under the gold standard to its current status as a free-floating currency, the yen has continually evolved to meet the nation's needs. As we look to the future, it will undoubtedly continue to adapt and serve as a key player in the