CANADIAN DOLLAR PRICE, CHARTS AND ANALYSIS: The Loonie Looks on Course for Further Losses as the Oil Correlation Seems to be Changing. Light Data Week on the Calendar with US CPI likely to Dominate. Market Participants see 72% chance of no rate at the upcoming BoC Meeting. Do not forget to Download Your Free Top
Share: USD/CAD reversed its course during the American session and got rejected by the 100-day SMA, falling to near 1.3335. NFPs showed that job creation in July cooled down while wages increased. Canada reported soft labour market and economic activity figures. On Friday, the USD/CAD cleared daily gains and fell into negative territory
Share: USD/CAD seesaws at the highest level in a month, making rounds to 1.3350 during early Friday morning in Asia, as traders await the top-tier employment statistics from the US and Canada for July. It’s worth noting that the Loonie pair trader’s doubts about the US Dollar’s latest retreat jostle with the firmer
Number of traders net-short has increased by 25.38% from last week. SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI USD/CAD BULLISH 49.94% 50.06% -1.43% Daily -13.93% Weekly 3.75% Daily 25.38% Weekly 1.10% Daily 2.09% Weekly of clients are net long. of clients are net short. Change in Longs Shorts
Share: Canadian GDP expanded 0.3% in May. US data shows core consumer inflation slowing down. USD/CAD moves sideways on Friday, remaining near the levels it had a week ago. The USD/CAD dropped to the 1.3200 area following US and Canadian economic data but then rebounded, approaching the key resistance area at 1.3250. The
Share: USD/CAD loses momentum following the Federal Reserve (Fed) meeting. The Fed hiked its rate by 25 basis points (bps) to a target range of 5.25%–5.5%. Market players anticipated that the BoC will likely not see the need to raise rates further this year. Investors await preliminary Q2 US GDP growth. The USD/CAD
Share: USD/CAD struggles to gain momentum beyond the 1.3200 area on Wednesday. The pair holds below the 50- and 100-hour EMAs with a downward slope. The immediate resistance level is seen at 1.3200; the initial support level is located at 1.3145. The USD/CAD pair attracts some follow-through buying but struggles to gain momentum
Canadian Dollar, USD/CAD, Technical Analysis, Retail Trader Positioning – IGCS Update US Dollar has been stabilizing against the Canadian Dollar Retail traders increased bearish USD/CAD exposure of late This is a hint that the price trend may soon reverse higher Recommended by Daniel Dubrovsky Get Your Free USD Forecast Following a string of losses, the