Share: USD/CAD trades higher post losses registered in the previous session. Canada inflation (YoY) fell to 3.1% in October, down from 3.8% prior. The decline in Crude oil prices could weigh on the CAD. US Dollar faces challenges despite improved US bond yields. USD/CAD recovers its intraday losses, hovering around the psychological level
The USDCAD raced lower last week and continued that fall yesterday to a low of 1.36284. However, the move lower stalled, and the price moved back above a swing area between 1.3659 and 1.3668 (and held support on a dip). Sellers turn the buyers and that momentum has continued in trading here today. The price
Share: EUR/USD holds ground due to the ECB’s support of a hawkish stance. The previous week’s low appears to be the support followed by the 1.0750 psychological level. Nine-day EMA emerges as the key barrier following the 14-day EMA at 1.0874 level. EUR/USD hovers above 1.0800 psychological level during the Asian session on Monday.
