Canadian Dollar Update, December 1, 2022 – Canadian dollar rallies after Powell speech
Abstract：WTI Oil open at $81.00 and gold open at $1,776.69. US markets are lower on 1st of December.
USD/CAD Open: 1.3427-31, Overnight Range: 1.3397-1.3435, Previous Close: 1.3418
WTI Oil open at $81.00 and gold open at $1,776.69. US markets are lower on 1st of December.
As For 1st December, USD resistance is at 1.3465. Support is at 1.3385.
Highlight
• Powell suggests rate hike pace will slow in December
• Positive risk sentiment lifts equities, commodities, and sinks Treasury yields
• US dollar falls across the board. JPY outperforms
The Canadian dollar took a turn for the better yesterday following Fed Chair Jerome Powells speech to the Brookings Institution.
USDCAD fell from a pre-Powell speech level of 1.3564 to 1.3428 as positive risk sentiment surged. Wall Street stocks roared higher, and the S&P 500 index closed with a 3.09% gain. The US 10-year Treasury yield dropped from 3.798% to 3.64%, then continued lower overnight, falling to 3.591% in early NY trading.
Mr. Powells speech was deemed to be dovish despite not really changing his tune from his post-FOMC meeting press conference. On November second Mr. Powell suggested —“it will become appropriate to slow the pace of increases as we approach the level of interest rates that will be sufficiently restrictive to bring inflation down to our 2 percent goal.”
On 30th November he merely tweaked the above sentence and said, The time for moderating the pace of rate increases may come as soon as the December meeting.
That was all markets wanted to hear. Traders blissfully ignored the parts of Powells speech that said US rates would continue to rise and stay in restrictive territory until inflation fell to 2.0%.
Risk sentiment got an added lift from reports that China eased Covid restrictions further.
Stocks in Asia rallied and closed with strong gains. European equity markets are higher and S&P 500 futures are unchanged.
West Texas Intermediate (WTI) oil surged on broad US dollar weakness and a steep drop in US crude stocks. The Energy Information Administration reported crude inventories fell 12.58 million barrels last week a much steeper fall than the 2.75 m/b decline expected. WTI rallied from $79.66/barrel to 81.79/b overnight.
EURUSD rallied from 1.0291 yesterday to 1.0463 overnight while ignoring weaker than expected German October Retail Sales and soft Eurozone manufacturing PMI reports.
GBPUSD soared from 1.1920 yesterday to 1.2156 in NY with slightly better than expected Markit Manufacturing PMI providing a bit of support.
USDJPY traded in a 135.84- 139.84 in the past 24 hours with prices pressured by falling Treasury yields.
AUDUSD climbed from 0.6676 Wednesday to 0.6839 in Europe underpinned by improving risk sentiment from hopes China eases Covid restrictions.
Yesterday's data includes weekly jobless claims (forecast 235,000), Core Personal consumption Expenditures Price index and ISM Manufacturing PMI.
Read more
Wundersys vs tradgrip: Two Offshore Newcomers Go Head to Head — and Neither Brings Home a Trophy
Some broker comparisons end with a confident "go with this one." This is not one of them — and that honesty is exactly what makes it worth reading. Wundersys and tradgrip are two young, offshore-registered brokers that keep popping up in front of beginner traders, often through aggressive online marketing. Both promise the usual buffet: tight spreads, generous leverage, multiple account tiers. And both, according to WikiFX, sit near the very bottom of the safety scale. So instead of crowning a champion, this comparison is really about something more useful: learning to read the warning signs, understanding the small differences that still matter, and knowing why "the better of two risky options" is still a conversation about risk.
The 6 Lowest-Commission Forex Brokers South Asian Traders Are Flocking To in 2026
If you trade forex from India, Pakistan, Bangladesh, Sri Lanka, or Nepal, you already know the quiet truth that eats into every trader's results: it is not just the market that decides whether you profit — it is the cost of getting in and out of each trade. Shave a couple of dollars off your commission on every lot, multiply it across hundreds of trades a year, and you are looking at the difference between a strategy that works and one that bleeds out slowly. South Asian traders are some of the most cost-conscious in the world, and rightly so. So we pulled the data on the brokers most often recommended for the region, cross-checked every name on WikiFX, and ranked them by the one number that matters most here: what they actually charge you to trade. Before the list, one quick lesson that will make this whole ranking click.
XPO Fund Wants $10,000 Before You Trade a Single Real Dollar — Read This Stunning Revelation
If you have spent even a week inside trading communities lately, you already know the pitch by heart. Pass a quick "challenge," get handed a funded account worth tens of thousands of dollars, and keep up to 80% of everything you make. No risking your own savings, no slow grind of building capital from scratch — just skill, a small fee, and a fast track to the big leagues. It is the exact dream every new trader is secretly chasing, and an entire industry has sprung up to sell it. XPO Fund is one of the louder voices selling that story right now. Its website is slick, its plans sound generous, and its marketing leans hard on words like "industry's lowest fee" and "fast payouts." But before you reach for your card, there is one number sitting quietly on this firm's profile — a number it would rather you scroll past — that every experienced trader would beg you to look at first. And no, it is not the profit split. Let's pull XPO Fund apart piece by piece: what it actually is, who is real
The 6 Best ECN Brokers for 2026: Who Really Delivers Raw Spreads and Institutional-Grade Execution
Every broker with a marketing budget now slaps the letters "ECN" on its homepage. Few of them actually deliver what those letters promise. For a serious trader — a scalper, a day trader, an algo trader, anyone whose edge lives or dies on execution quality — the gap between a true ECN broker and a market maker wearing an ECN costume can quietly cost you hundreds of pips a year in slippage, requotes, and inflated spreads. So we cut through the marketing, looked at the brokers that genuinely offer raw pricing and deep liquidity, and cross-checked every one of them on WikiFX. Here are the six ECN accounts that actually earn the label in 2026 — ranked. First, a short primer, because understanding ECN is what lets you judge these brokers properly.
WikiFX Broker
Latest News
Balancing Chart Volatility With Account Limits in Stop Loss Placement
WikiFXHTFX Review 2026: Withdrawal Complaints, Offshore Regulation, and Account Access Risks
WikiFXCFI Review 2026: Should You Trade with This Broker?
WikiFXInteractive Brokers Review 2026: Regulation Fines, Platform Access, and Complaint Risks
WikiFXVantage Review 2026: Is This Forex Broker Safe?
WikiFXThe Dunning-Kruger Trap: How Beginner Forex Traders Can Overcome Overconfidence and Manage Risk
WikiFXUnderstanding Currency Pairs, Central Banks and Core Forex Market Risks
WikiFXWhat Beginners Must Know About Stop-Loss Orders and Trading Risk
WikiFXPepperstone Review 2026: Massive Deposit & Withdrawal Complaints Against This Regulated Broker
WikiFXFrom Myanmar to Malaysia: Scam Syndicates Relocate from Southeast Asia’s Fraud Centres
WikiFXRate Calc
