USD/CAD falls vertically below 1.3700
The USD/CAD pair fell sharply below the round-level support of 1.3700 after the release of the United States/Canada labor market data. The Loonie asset witnesses an intense sell-off as the US Dollar Index (DXY) drops swiftly on the soft US Nonfarm Payrolls (NFP) report for October. The US Bureau of Labor Statistics (BLS) reported that […]
USD/CAD refreshes day low as higher oil prices strengthen the Canadian Dollar
The USD/CAD pair faces selling pressure after a less-confident pullback move to near the round-level resistance of 1.3700 in the early New York session. The Loonie asset is expected to deliver a fresh downside below 1.3680 as the Canadian Dollar has strengthened due to upbeat oil prices. The demand for oil improves due to escalating […]
USD/CAD seeing mid-Thursday rejection from the topside
The USD/CAD lifted in early Thursday trading, clipping into 1.3520 before seeing a clean rejection, and is now trading down into 1.3475 as the Greenback (USD) takes a breather and the Loonie (CAD) finds support from bouncing crude oil prices. The oil-based Loonie is finding some minor support from crude prices heading into the end […]
The USD/CAD is trying to recover the day’s losses
The USD/CAD started Tuesday in freefall, declining from the day’s open near 1.3480 and tapping into 1.3380. Rising oil prices are bolstering the Loonie (CAD), as concerns over global supply constraints knock crude barrel costs into the ceiling. Despite the Loonie-led dip, the USD/CAD is recovering into the middle ground. Greenback (USD) traders are keeping […]
USD/CAD turns sideways after rallying around 1.3250
The USD/CAD pair oscillates in a narrow range after a rally around 1.3250 in the European session. Strength in the US Dollar is backed by Greenback’s fresh three-week high formed around 102.14. The Loonie asset is expected to deliver further action after guidance from United States Manufacturing PMI data. S&P500 futures extend losses in London, portraying caution among market participants ahead of key economic data. The US Dollar Index continues its three-day winning spree on Tuesday as investors expect that the Federal Reserve (Fed) could continue hiking interest rates so that price stability could be achieved quickly.
