USD/CAD is lower again on Wednesday amid the onset of fresh dollar selling. The risk appetite boost turned out to be a key factor weighing on the greenback as a haven. Falling oil prices could undermine the loonie and limit losses ahead of the FOMC. The pair USD/CAD meets a new offer on Wednesday and […]
Tag: USDCAD
USD/CAD bounces off 1-month lows towards 1.2900 amid risk aversion
US dollar strengthens across the board as FOMC meeting kicks off. Risk aversion weighs on the Canadian dollar. USD/CAD finds support again at the 1.2815/30 zone. The USD/CAD rallied strongly after touching 1.2814, the lowest level in six weeks. She hit a fresh daily high at 1.2888, buoyed by a stronger US dollar overall. The […]
USD/CAD flirts with the 50 DMA around 1.2850
A combination of factors caused aggressive intraday selling around USD/CAD on Monday. The rally in crude oil prices underpinned the loonie and put pressure on amid a weaker dollar. Recession fears could dampen oil prices and limit dollar losses ahead of the key FOMC decision. The pair USD/CAD has seen an intraday turnaround from multi-day […]
USD/CAD finds support above 1.2820 and heads for weekly losses
USD/CAD bounces off weekly lows to 1.2870. Canadian data beats expectations, while US data disappoints. The focus is on next week’s FOMC meeting. The USD/CAD is about to end the week hovering around 1.2870 after bouncing from 1.2820. However, the US dollar is about to end the week on a negative note ahead of the […]
USD/CAD Price Analysis: Bulls try to defend confluence support
USD/CAD bounces off confluence support at 1.2855-1.2850, though no continuity. The resurgence in USD demand turns out to be a key factor acting as a tailwind for the pair. The rally in oil prices offers some support to the CAD and limits any significant rise in the pair. The USD/CAD pair has managed to defend […]
USD/CAD rejected from above 1.2920 in a volatile session for the USD
Volatile session in all financial markets after the ECB meeting. The dollar has no clear direction, US yields fall. USD/CAD maintains weekly losses as recovery fades above 1.2900. The USD/CAD reversed and fell below 1.2900 in a volatile session for financial markets after the European Central Bank meeting and US data. The pair peaked at […]
USD/CAD Price Analysis: Fighting near two-week lows/50 DMA ahead of Canadian CPI
USD/CAD is languishing near a two-week low amid prevailing dollar selling bias. Lower oil prices could undermine the loonie and help limit the slide. Investors await the Canadian CPI report before making further directional bets. The pair USD/CAD fell for the fourth day in a row on Wednesday and was last seen near a two-week […]
USD/CAD: 50-day SMA supports decline ahead of Canadian inflation data
A pause in dollar selling offers a respite to USD/CAD. Oil price weakness helps alleviate downward pressure on the pair. The 50-day SMA defies bullish commitment as the focus is on Canadian inflation. The USD/CAD licks its wounds as it defends the 1.2850 regionhitting a two-week low as US dollar bears take a breather after […]
USD/CAD falls below 1.2930 amid weakening USD
The US dollar is under pressure amid risk appetite. Oil prices correct on Tuesday, after rising sharply on Monday. USD/CAD reaffirms bearish bias after brief rebound. The USD/CAD falls for the third day in a row. After a brief rebound from the 1.2900 area towards 1.3000, the pair resumed its decline and is trading below […]
USD/CAD flirts with daily lows around 1.2950
A combination of factors drags USD/CAD lower for the third day in a row on Tuesday. Fading expectations of a 100 basis point Fed rate hike in July keep USD bulls on the defensive. The recovery in oil prices benefits the CAD and contributes to the selling bias in the pair. The pair USD/CAD has […]
