Canada’s S&P Global Manufacturing PMI disappointed market expectations in June. The USD/CAD pair is still trading slightly above 1.2850 after the data. Business activity in Canada’s manufacturing sector expanded at a softer pace in June than in May, with Canada’s S&P Global Manufacturing PMI falling to 54.6 from 56.8. This data was weaker than the […]
Tag: USDCAD
USD/CAD falls to six-day lows below 1.2850
Dollar Loses Ground Across Market, DXY Down 0.27%. Markets will be closed in the US, in Canada the BoC survey is published. USD/CAD approaches last week’s low. USD/CAD is falling at the start of the week, breaking important short-term support. The declines are fueled by broad dollar weakness. The pair trades below 1.2840, at a […]
USD/CAD pulls back from weekly highs, returns around 1.2900 after US/Canada data
USD/CAD trimmed some of its intraday gains amid a modest dollar pullback following US PCE inflation data. The current decline in crude oil prices undermined the loonie and continued to provide some support. The monthly report on Canadian GDP did not serve to boost the currency. The pair USD/CAD It quickly pulled back a few […]
USD/CAD climbs back above 1.2900 and flirts with weekly high
USD/CAD gains ground for the second day in a row and approaches weekly high. The pullback in crude oil prices weighs on the CAD and supports the upside move in the pair. An aggressive Fed and recession fears favor USD bulls and support prospects for further gains in the pair. The pair USD/CAD has built […]
USD/CAD slides towards 1.2850 amid rising oil prices
USD/CAD attracted fresh selling on Wednesday and fell for the fourth day in a row. Rising oil prices underpinned the loonie and put some downward pressure on the pair. Falling US bond yields capped the dollar and gave it no support ahead of the Fed’s Powell meeting. The pair USD/CAD struggled to capitalize on its […]
USD/CAD bounces away from two-week lows, rising oil caps gains
The onset of aggressive dollar buying helped USD/CAD trim its intraday losses. Bullish oil prices continued to support the loonie and capped any significant gains. Investors are now waiting for the US economic data to get some short term trade boost. The pair USD/CAD rallied a few pips from a two-week low hit earlier this […]
USD/CAD falls to a low of more than two weeks and weakens below 1.2850
USD/CAD continues to lose ground for the third day in a row and falls to a low of more than two weeks. Bullish crude oil prices benefit the CAD and put pressure on the pair amid weak USD demand. Reduced expectations for aggressive Fed rate hikes and a positive risk tone weigh on the safe-haven […]
USD/CAD remains stable around 1.2900, little movement after US data.
USD/CAD reversed an early decline to a one-week low amid the appearance of some dollar buying. Rising oil prices could support the loonie and cap currency gains. Markets reacted little to the release of positive US Durable Goods Orders data for May. The pair USD/CAD attracted some buying on dips near 1.2865-1.2860 and bounced around […]
USD/CAD falls to 11-day lows, market optimism continues
Canadian dollar rises modestly on Monday, validating last week’s rally. Equity markets continue to rise after a great day on Friday. USD/CAD with bearish bias, testing support zone around 1.2860. The USD/CAD is trading slightly lower on Monday and maintains a bearish bias in the very short term. The better mood in the equity markets […]
USD/CAD advances towards 1.2900 due to the increase in the price of oil and the weakness of the CAD
USD/CAD breaks two consecutive weeks of gains and falls 0.85% weekly. Rising oil prices and upbeat sentiment coupled with a weaker dollar are buoying the CAD. Bullard of the Federal Reserve commented that fears of a recession in the United States are exaggerated; the FFR is expected to end at 3.5%. The USD/CAD down from […]
