1.402
Today
+0.17%
5 Days
-0.82%
1 Month
-0.87%
6 Months
+2.63%
Year to Date
+2.16%
1 Year
+0.24%
Opening Price
1.404Previous Closing Price
1.400
The upside prevails as long as 1.4017 is support, with 1.4075 and 1.4089 as targets
below 1.4017, expect 1.3994 and 1.3980.
The upside prevails as long as 1.4017 is support, with 1.4075 and 1.4089 as targets
USD/CAD rebounds on Monday, snapping a seven-day losing streak as traders reposition ahead of this week’s Federal Reserve (Fed) and Bank of Canada (BoC) monetary policy announcement.
Commerzbank’s Norman Liebke notes that the Canadian Dollar has underperformed G10 peers but sees support from rising Bank of Canada rate expectations and high Oil prices.
The US Dollar (USD) is trimming some losses against the Canadian Dollar (CAD) on Monday as investors brace for the US Federal Reserve (Fed) monetary policy decision, due on Wednesday, while lower Oil prices hurt the commodity-sensitive Loonie.
Brown Brothers Harriman’s (BBH) Elias Haddad expects the Bank of Canada (BoC) to begin a new tightening cycle with a 25bps hike to 2.50%, citing rising inflation risks.
The USD/CAD pair trades with mild gains near 1.4010 during the early European trading hours on Monday. A decline in crude oil prices weighs on the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).
USD/CAD depreciates after opening at a bullish gap, trading around 1.4000 during Asian hours on Monday.
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.
