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USD / CAD falls to week-long lows near 1.2800

  • The dollar loses strength in the market before the stock markets advance.
  • Loonie is doing well on Tuesday in the commodity group.

The USD / CAD came to trade above 1.2850 in the Asian session but changed trend and just fell to 1.2805, the lowest level since December 21. The price remains in the area of ​​the lows, with a downward tone, in a context of general weakness of the dollar.

He Dollar Index (DXY) is trading just above 90.00, dropping 0.35% on the day. This reflects the weakness of the dollar against the euro and the yen mainly, but the decline is generalized including emerging market currencies.

In the bags there is still a positive environment. Wall Street futures point to a positive open with gains around 0.5%, which would put the major indices to new records. The good mood is also driven by the price of oil. WTI rebounds after Monday’s slide and is up 1.25%, trading at $ 48.25.

He Oil bounce along with the advance in stocks keeps USD / CAD weak. What happens to US stocks and commodities may be decisive for the pair, as there will be no significant US data. Case Shiller’s home price index presentation is highlighted, which does not it usually has a great influence on prices.

Technical levels

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