1.381
Today
-0.22%
5 Days
-0.45%
1 Month
-1.49%
6 Months
+1.01%
Year to Date
+0.64%
1 Year
+0.22%
Opening Price
1.383Previous Closing Price
1.384Derek 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 Bank of Canada (BoC) left its overnight interest rate unchanged at 2.25%, as widely anticipated, but delivered a more cautious message as inflation risks increased and the recovery became harder to assess.
USD/CAD falls to around 1.3875 on Wednesday, down 0.15% on the day, following the Bank of Canada’s (BoC) monetary policy decision. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) after the central bank leaves its policy rate unchanged at 2.25%, in line with market expectations.
BNY’s Geoff Yu notes that Canadian Dollar (CAD) positioning remains weak ahead of the Bank of Canada (BoC) decision, with USD/CAD dominating flows and cross-currency activity surprisingly limited.
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 configuration is negative.
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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