USD/CAD has reached our end of year target of 1.40 and we fully expect the pair to reach the 1.42 level we highlighted for Q1, Rabobank’s FX analysts Molly Schwartz and Christian Lawrence note. USD/CAD likely to reach 1.46 next year “That said, given two main drivers we outline below, we now expect further extension […]
The USD/CAD pair may approach the upper boundary of the ascending channel at the 1.4080 level. Traders may anticipate a potential downward correction if the 14-day RSI surpasses the 70 mark. The immediate support appears at the nine-day EMA at 1.3943 level followed by the 14-day EMA at the 1.3917 level. The USD/CAD pair gains […]
USD/CAD extends the rally to around 1.4000 in Thursday’s early Asian session. US CPI matched estimates in October. The expectation of a more aggressive rate cut from the BoC than the Fed, lower crude oil prices weigh on the Loonie. The USD/CAD pair gains momentum to near 1.4000, the highest level since 2020 during the […]
USD/CAD strengthens as the US Dollar appreciates due to optimism surrounding the Trump trades. The implementation of US President-elect Donald Trump’s proposed fiscal policies could delay further rate cuts by the Fed. The commodity-linked CAD weakens as Oil prices decline following OPEC’s lowered forecast for global Oil demand growth in 2024. USD/CAD moves upwards for […]
The Canadian Dollar shed 0.4% against the Greenback on Friday. Canada saw a worse-than-expected print in net new jobs additions in October. Average Canadian wages also rose, maintaining upward pressure on inflation expectations. The Canadian Dollar flubbed a near-term technical recovery on Friday, slumping back into familiar lows against the Greenback. The Loonie remains under […]
USD/CAD edges lower to around 1.3825 in Wednesday’s early Asian session. Election-related uncertainty weighs on the USD. Higher crude oil prices might support the Loonie for the time being. The USD/CAD pair weakens to near 1.3825 during the early Asian session on Wednesday. The US Dollar (USD) remains under some selling pressure amidst heightened expectations […]
US positive labor market data was initially bearish on the USD, but the currency recovered losses. The ISM Manufacturing PMI came in weaker than expected, suggesting a contraction in the manufacturing sector. Canadian Dollar remains under pressure due to rate cut expectations. The USD/CAD currency pair saw a mild decline in Friday’s session, reaching a […]
Fundamental Overview The lack of catalysts recently kept the US Dollar supported across the board despite the slowdown in momentum. The market might now be looking forward to the first weeks of November when we will get the key economic data, the FOMC decision and the US elections. There’s been also a good argument that […]
The USD/CAD pair may find the barrier around the upper boundary of the ascending channel at the 1.3870 level. The 14-day RSI signals an overbought condition, suggesting that a potential downward correction could be on the horizon. Potential support appears at the lower boundary of the ascending channel around the 1.3770 level. USD/CAD continues its […]
Fundamental Overview Yesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction. The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the […]
The Canadian Dollar (CAD) eased lower after better-than-expected US NFP numbers. Canada saw an upswing in Ivey PMIs, but was passed over by market watchers. A firm jump in US NFP jobs additions toppled rate cut hopes to wrap up the trading week. The Canadian Dollar (CAD) slipped further on Friday, driven lower by a […]
The Canadian Dollar fell across the board on Friday. Canada saw a higher-then-expected GDP print from July. US PCE inflation data dominated Friday’s headlines. The Canadian Dollar (CAD) fell back against all of its major currency peers on Friday, shedding nearly one-third of one percent against the Greenback. Markets shrugged off an upbeat print in […]
