1.377
Today
-0.52%
5 Days
-0.76%
1 Month
-1.79%
6 Months
+0.70%
Year to Date
+0.33%
1 Year
-0.09%
Opening Price
1.383Previous Closing Price
1.384USD/CAD extends its decline for the second consecutive day on Thursday as broad US Dollar (USD) weakness and the Bank of Canada’s (BoC) hawkish message at its September policy meeting support the Canadian Dollar (CAD).
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is modestly outperforming after a slightly hawkish Bank of Canada (BoC). Policy was left unchanged, but inflation risks were highlighted and December tightening is fully priced.
Brown Brothers Harriman’s (BBH) Elias Haddad observes USD/CAD is testing key support at 1.3800, where a break could open further downside. The Bank of Canada (BoC) delivered a hawkish hold, keeping rates at 2.25% but warning about increased upside inflation risks.
Derek Halpenny at MUFG notes the Canadian Dollar’s (CAD) immediate advance after the Bank of Canada left rates unchanged at 2.25% but signalled greater concern over inflation.
USD/CAD extends its losses for the second consecutive day. trading around 1.3820 during the Asian hours on Thursday. The technical analysis of the daily chart indicates the pair is positioned within the descending channel pattern, signalling a bearish bias.
USD/CAD extends its losses for the second consecutive day, trading around 1.3830 during the Asian hours on Thursday. The currency pair experiences downward pressure as a sharp rally in the Japanese Yen (JPY) weighed heavily on the US Dollar (USD).
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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The downside prevails as long as 1.3833 is resistance, with 1.3774 and 1.3759 as targets
above 1.3833, look for 1.3858 and 1.3873.
The downside prevails as long as 1.3833 is resistance, with 1.3774 and 1.3759 as targets
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