- The loonie is strengthening against the U.S. dollar amid appetite for risk.
- USD / CAD falls for the second day in a row and turns negative for the current week.
The USD / CAD accelerated the decline during the American session as US stocks move higher and amid a rebound in crude prices. The pair has fallen to 1.2840, reaching the lowest level since Friday. It remains close to the lows, under pressure.
On the downside, the region of 1.2835 emerges as the next bracket, followed by 1.2800. On the other hand, the level 1.2865 it has now become immediate resistance.
WTI rises, Wall Street is positive
The Dow Jones is up 0.50% and the Nasdaq is up 0.71%. A barrel of WTI is up almost 1%, hovering around the $ 71.60 level. The improvement in risk sentiment, combined with modestly lower US yields, keeps the US dollar under pressure.
Economic data from the United States showed that the US economy grew at a rate of 2.3% during the third quarter, above the 2.1% previously reported. The index of Conference Board consumer confidence rose to 115.8 points in December from 111.9 in the previous month. The dollar did not benefit from the data. The key day on economic data will be Thursday. The underlying PCE and initial jobless claims figures will be released from the United States.
In Canada, GDP figures will be released.
USD / CAD technical levels
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