USD/CAD attracts some buying on Friday amid a modest uptick in USD demand. Prospects for further rate hikes from the Fed and rising US bond yields benefit the dollar. The recent rally in oil prices could prop up the loonie and limit further gains. The pair USD/CAD bounces a few pips from the daily low […]
Tag: USDCAD
USD/CAD Battles 200 DMA Following US PPI Slowdown
USD/CAD extended losses for the second day in a row as sellers look for a breakout of the 200 DMA. US July inflation reports show signs of peaking, with CPI at 9% y/y and PPI at 10% y/y, below their readings in the previous month. Traders’ attention shifts to the University of Michigan Consumer Sentiment […]
USD/CAD: The bears are approaching the support of the 200-day SMA
USD/CAD pulls back to two-month lows, with the 200-day SMA “safety net” just below. Hopes of a less aggressive Fed and risk appetite continue to weigh on the pair. A rebound in oil prices benefits the CAD and also contributes to capping the pair. The pair USD/CAD remains trapped in a tight range during the […]
USD/CAD plunges and updates two-month lows after US data.
USD/CAD slumps after hitting a daily high near the 1.2900 mark. The consumer price index (CPI) for July in the US slows down to 0% month-on-month. Despite the US inflation data, ING analysts expect the Fed to hike 75 basis points in September. The USD/CAD tumbled after a softer-than-expected US inflation report, used by investors […]
USD/CAD still under pressure below 1.2900, decline looks supported ahead of US CPI.
USD/CAD meets fresh sales on Wednesday and erodes some of the previous day’s gains. USD weakness turns out to be the only factor putting some downward pressure on the pair. Weakening oil prices could weigh on the CAD and lend support to the pair ahead of the US CPI report. The pair USD/CAD has difficulty […]
USD/CAD moves steadily above 50 DMA, ahead of 1.2900
USD/CAD erases part of Monday’s losses and gains 0.24%. Market sentiment is affected and safe haven currencies such as the dollar remain in the driver’s seat. Investors brace for July’s US Consumer Price Index. The USD/CAD up slightly from Monday’s lows amid bearish market sentiment as traders brace for July’s US inflation report. Furthermore, geopolitical […]
USD/CAD makes highs near 1.2880 but remains close to recent range
The dollar with mixed results on Tuesday, before US inflation data. Oil prices rise more than 1%. USD/CAD with limited ranges and support above 1.2830. The USD/CAD is trading at daily highs in the 1.2880 zone, despite the fact that the dollar presents mixed results and the rise in the price of oil. The pair […]
USD/CAD falls to a new daily low and approaches 1.2850 amid USD weakness
USD/CAD is selling off again on Monday amid modest dollar weakness. The pullback in US bond yields and the risk boost are weighing on the safe-haven dollar. Falling oil prices could undermine the loonie and help limit further losses. The pair USD/CAD attracts fresh selling on the first day of a new week and pulls […]
USD/CAD rebounds to two-week highs after US and Canadian data
USD/CAD has been helped by the release of monthly US employment data. The US economy added 528,000 jobs in July, and the unemployment rate fell to 3.5%. The dismal Canadian jobs report overshadows the rebound in oil prices and does not benefit the loonie. The pair USD/CAD capitalize on the positive movement overnight and gain […]
USD/CAD hits two-week highs ahead of US and Canada employment report.
The dollar posts modest gains across the market ahead of key events. July employment report is coming from Canada and the US. USD/CAD is close to 1.2900, although it will all depend on the data. The USD/CAD is rising on Friday ahead of Canadian and US employment data. and trades at 1 1/2 week highs […]