- USD / CAD is declining even more early in the US session.
- The US dollar index fell back to 93.00 amid falling US Treasury yields.
- Rising oil prices help the CAD gain traction against its rivals.
The pair USD / CAD It began to push lower early in the US session on Thursday and was last seen trading at 1.2572, where it was up 0.1% on the day.
After the U.S. Department of Labor announced that initial jobless claims rose to 719,000 from 658,000 in the week ending March 27, the 10-year U.S. Treasury yield extended its daily decline and weighed on the USD. Currently, the 10-year US Treasury yield is down 2.7% on the day and the US dollar index is losing 0.18% to 93.06.
On the other hand, crude oil prices gained momentum when Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, reiterated at the 15th OPEC and non-OPEC Ministerial Meeting that they will maintain a cautious stance. At time of writing, a barrel of West Texas Intermediate was up 2% to $ 60.60, giving a boost to the commodity-sensitive CAD.
Meanwhile, Reuters reported that the findings of a recent survey revealed that the median forecast of more than 30 strategists was for USD / CAD to decline 0.6% over the next three months to the 1.2500 zone.
Technical levels
USD / CAD
Panorama | |
---|---|
Today’s Last Price | 1.2573 |
Today’s Daily Change | 0.0011 |
Today’s Daily Change% | 0.09 |
Today’s Daily Opening | 1.2562 |
Trends | |
---|---|
SMA of 20 Daily | 1.2562 |
SMA of 50 Daily | 1.2646 |
SMA of 100 Daily | 1.2746 |
200 SMA Daily | 1.3019 |
Levels | |
---|---|
Daily Previous Maximum | 1.2634 |
Daily Previous Minimum | 1.2539 |
Weekly Preview Maximum | 1.2629 |
Weekly Prior Minimum | 1.2473 |
Monthly Previous Maximum | 1.274 |
Minimum Previous Monthly | 1.2365 |
Daily Fibonacci 38.2% | 1.2576 |
Daily Fibonacci 61.8% | 1.2598 |
Daily Pivot Point S1 | 1.2523 |
Daily Pivot Point S2 | 1.2484 |
Daily Pivot Point S3 | 1.2428 |
Daily Pivot Point R1 | 1.2617 |
Daily Pivot Point R2 | 1.2673 |
Daily Pivot Point R3 | 1.2712 |
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