Today
-0.02%
5 Days
-0.43%
1 Month
-1.33%
6 Months
+2.23%
Year to Date
+1.90%
1 Year
+0.28%
Opening Price
1.398Previous Closing Price
1.399
The downside prevails as long as 1.4013 is resistance, with 1.3944 and 1.3931 as targets
above 1.4013, look for 1.4036 and 1.4050.
The downside prevails as long as 1.4013 is resistance, with 1.3944 and 1.3931 as targets
Standard Chartered economist Dan Pan analyzes the Bank of Canada’s 25bps rate hike to 2.5%, which came despite subdued core inflation and soft growth. The bank now expects another 25bps increase in December, taking the year-end rate to 2.75%, and sees the BoC pausing in 2027, with scope for further hikes if growth momentum is confirmed.
Scotiabank strategists Shaun Osborne and Eric Theoret say the Canadian Dollar (CAD) is flat versus the US Dollar (USD) but firmer against other commodity currencies, supported by a modestly hawkish Bank of Canada (BoC) hike.
USD/CAD attracts buyers during American trading hours on Thursday as traders digest the latest US economic data, which keeps hawkish Federal Reserve (Fed) expectations intact and supports the US Dollar (USD).
Norman Liebke at Commerzbank reports that the Bank of Canada raised rates to 2.5% and signalled a data-dependent approach. Inflation is projected above target until mid-2028, with growth risks centred on US tariffs but supported by energy investment.
Francesco Pesole at ING highlights that the Bank of Canada’s (BoC) 25bp hike to 2.50% is unlikely to be the last, with another move expected in early 2027 and risks of an earlier increase if energy prices stay high.
USD/CAD remains subdued for the second successive day, trading around 1.3990 during European hours on Thursday.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
