USD / CAD falls to fresh three-week lows at 1.2950 zone

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  • USD / CAD is falling for the second day in a row, after breaking 1.2985.
  • The dollar is weak and the loonie is among the best of those linked to commodities.

The USD / CAD started the new week around 1.3000, with a bearish bias and in European hours it broke below 1.2980 decisively, extending the pullback to 1.2950, ​​the lowest level since November 9. The price remains in the area of ​​the lows under pressure.

USD weakened

The Widespread dollar weakness on Monday is favoring the USD / CAD decline. The US Dollar Index, which lost 0.60% last week, is currently at its lowest level since late April 2018 at 91.63, a 0.15% retracement on the day.

Wall Street to return to normal after the US holidays Pending home sales data and the Dallas Fed manufacturing index will be released. In Canada, Statistics Canada will publish the commodity price index and building permit data.

The cThe drop in the price of oil is not playing against the loonie, which among those linked to commodities is the one with the best performance. A barrel of West Texas Intermediate (WTI) falls 1.65% and operates at $ 44.80.

Technical levels

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