USD/CAD may find initial resistance at its six-week high of 1.4016. The 14-day RSI remains slightly above 50, indicating continued bullish bias. The immediate support appears at the nine-day EMA of 1.3936. The USD/CAD pair is losing ground after registering gains in the previous session, trading around 1.3950 during the European hours on Monday. The…
USD/CAD trades with a negative bias in the weekly range amid a softer USD, rising Oil prices. The mixed technical setup warrants some caution before placing aggressive directional bets. A sustained strength beyond the 1.4000 confluence will be seen as a fresh trigger for bulls. The USD/CAD pair attracts some sellers for the second straight…
USD/CAD rises to near 1.3920 after the release of the Canadian labor market data. The Canadian jobless rate accelerated at a faster-than-expected pace to 6.9%. Investors await US-China trade talks scheduled over the weekend. The USD/CAD pair moves higher to near 1.3920 in Friday’s North American session after the release of the Canadian labor market…
USD/CAD oscillates inside Thursday’s trading range around 1.4330. The Fed is in no hurry to move to interest rate cuts amid elevated consumer inflation expectations. Market experts see the BoC reducing interest rates again in April. The USD/CAD pair ticks higher to near 1.4330 in European trading hours on Friday but remains inside Thursday’s trading…
Inflation in Canada, as measured by the change in the Consumer Price Index (CPI), climbed to 2.6% on a yearly basis in February from 1.9% in January, Statistics Canada reported on Tuesday. This reading came in above the market expectation of 2.1%. On a monthly basis, the CPI rose 1.1% after increasing 0.1% in January. The…
USD/CAD softens to around 1.4290 in Monday’s late American session. US Retail Sales rose softer than expected in February, weighing on the US Dollar. Crude Oil prices edge higher due to geopolitical risks, supporting the commodity-linked CAD. The USD/CAD pair remains on the defensive near 1.4290 during the late American session on Monday. The US dollar…
USD/CAD gathers strength to around 1.4205 in Tuesday’s early European session. The pair keeps the negative view below the 100-period EMA with the bearish RSI indicator. The first downside target to watch is 1.4151; the immediate resistance level emerges near 1.4265. The USD/CAD pair trades in positive territory near 1.4205 during the early European session…
Canadian Dollar markets are shuttered for a federal holiday. US markets are also quiet, further crimping volume flow from the Greenback side. Canadian CPI inflation figures due this week, as well as FOMC Meeting Minutes. The Canadian Dollar (CAD) was flat on Monday, driven into the middle by a complete lack of market volume. Canadian…
The USDCAD market has been retracing higher price levels for an extended period. This seems to be a result of the US dollar being stronger than its Canadian counterpart ever since. However, price action saw a mild result as a result of the cautious mood ahead of the Fed’s monetary policy statement. Key Price Levels:…
The Dollar rallies to fresh four-year highs against a weak Canadian Dollar. Strong US economic data and the political crisis in Canada have hammered the CAD. Monetary divergence between the Fed and the BoC provides additional support to the US Dollar. The US Dollar keeps appreciating against the Canadian Dollar and trades right below 1.4300…