1.391
Today
-0.04%
5 Days
-1.04%
1 Month
-1.67%
6 Months
+2.51%
Year to Date
+1.39%
1 Year
+1.00%
Opening Price
1.392Previous Closing Price
1.392Societe Generale’s Kenneth Broux highlights that the Canadian Dollar has recovered to its strongest level in two months, with USD/CAD mean‑reverting to 1.3933 from 1.4248.
Canadian Dollar (CAD) ticks down from two-month highs as the US Dollar (USD) firms up across the board, with investors bracing for the US Consumer Price Index (CPI) report due later in the day.
The USD/CAD pair ticks higher during the Asian session on Wednesday, snapping a three-day losing streak to the 1.3915 area or its lowest level since June 10. Spot prices, however, lack bullish conviction and trade around 1.3930, awaiting the release of the latest US inflation figures.
USD/CAD trades under pressure on Tuesday, staying on the back foot for a third straight day. However, the pair lacks follow-through selling as the US Dollar (USD) holds firm ahead of Wednesday’s US Consumer Price Index (CPI) data.
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is supported by higher Oil prices and Friday’s strong Canadian jobs data versus weaker US labour figures.
USD/CAD trades around 1.3935 on Tuesday at the time of writing, virtually unchanged on the day with a modest 0.03% decline.
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 1.3958 is resistance, with 1.3910 and 1.3898 as targets
above 1.3958, look for 1.3979 and 1.3991.
The downside prevails as long as 1.3958 is resistance, with 1.3910 and 1.3898 as targets
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