The pair is experiencing significant selling pressure this Tuesday as the US Dollar weakens ahead of the Federal Reserve’s interest rate decision. Meanwhile, Statistics Canada reports that the headline Consumer Price Index (CPI) expanded at a pace of 0.4%, higher than expectations of 0.2%. The annual headline inflation has also accelerated sharply to 4% against
Share: USD/CAD struggles to gain any meaningful traction and oscillates in a range on Monday. Bullish Oil prices underpin the Loonie and act as a headwind amid a modest USD slide. The downside seems limited as traders seem reluctant ahead of the FOMC policy meeting. The USD/CAD pair kicks off the new week
Share: USD/CAD stalls its downtrend, finding support at 1.3489, just above the 200-day Moving Average, and trades 0.14% higher. If the pair sustains above 1.3489, it could target resistance levels at 1.3550, 1.3580/90, and the psychological 1.3600 mark. A break below 1.3489 could signal a bearish resumption, exposing the 200-DMA at 1.3463 and
USD/CAD TECHNICAL ANALYSIS Between mid-July and early September, USD/CAD embarked on a robust uptrend, but the pair encountered resistance near the psychological 1.3700 level before reversing lower just as oil broke out to multi-month highs, a development that added some support to the Loonie given Canada’s high sensitivity to energy markets. Following the recent setback,
CANADIAN DOLLAR FORECAST: USD/CAD slides in response to robust employment survey results from Canada Canadian employers added 39,900 jobs last month versus 15,000 expected, signaling economic resilience In the upcoming week, the spotlight will be on the August U.S. inflation report Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market
USD/CAD FORECAST USD/CAD rises as U.S. Treasury yields push higher following strong U.S. economic data Bank of Canada keeps interest rates unchanged, but says additional hikes should not be ruled out BoC’s hawkish hold fails to support the Canadian dollar, as the broader U.S. dollar drives FX market dynamics Trade Smarter – Sign up for
Recommended by Daniel Dubrovsky How to Trade Gold The US Dollar broadly underperformed against its major counterparts this past week, with gold prices seeing a strong rally. A root cause of this was somewhat disappointing economic data from the world’s largest economy. That contributed to financial markets increasingly pricing in a less dovish Federal Reserve
Share: Bullish-engulfing candlestick pattern on the daily chart suggests buyers are in control. The first major resistance at 1.3600, followed by several key levels up to 1.3804. Downside risks include a drop below 1.3489, potentially targeting the 200-DMA at 1.3462 and the 50-DMA at 1.3345. The Canadian Dollar (CAD) losses ground against the