1.378
Today
-0.23%
5 Days
-0.52%
1 Month
-1.09%
6 Months
+1.62%
Year to Date
+0.41%
1 Year
-0.27%
Opening Price
1.381Previous Closing Price
1.381TD Securities argues Canadian Dollar (CAD) is set to gain prominence as a global carry funding currency, with its carry/vol profile already comparable to Japanese Yen (JPY).
The Canadian Dollar (CAD) is giving back previous daily gains against the US Dollar (USD) on Tuesday, as the risk-off mood amid escalating tensions in the Middle East offsets the positive impact of higher Crude prices on the commodity-sensitive Loonie.
The Canadian Dollar (CAD) trades higher against the US Dollar (USD) on Tuesday. The USD/CAD pair is down 0.25% to near 1.3780 at the time of writing as the Loonie outperforms due to surging oil prices.
USD/CAD extends its losses for the second successive day, trading around 1.3800 during the Asian hours on Tuesday. Analysts at HSBC caution that, despite the recent improvement in sentiment around the Fed’s anti-inflation stance, broader structural issues have not disappeared.
The Loonie gains some traction versus the Greenback, while the latter posts modest losses, as US and Canadian financial markets remain closed in observance of Labour Day. Nevertheless, the USD/CAD edges lower by some 0.15%, trading at 1.3813 at the time of writing.
USD/CAD trades around 1.3810 on Monday at the time of writing, down 0.15% on the day. The pair comes under some pressure as the sharp rise in Oil prices supports the Canadian Dollar (CAD), although underlying strength in the US Dollar (USD) limits the downside.
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 1.3834 is resistance, with 1.3774 and 1.3758 as targets
above 1.3834, look for 1.3861 and 1.3877.
The downside prevails as long as 1.3834 is resistance, with 1.3774 and 1.3758 as targets
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