1.388
Today
+0.05%
5 Days
+0.54%
1 Month
-1.50%
6 Months
+1.47%
Year to Date
+1.15%
1 Year
+0.31%
Opening Price
1.387Previous Closing Price
1.387The Canadian Dollar (CAD) trades lower against the US Dollar (USD) on Thursday, with USD/CAD trading marginally higher to near 1.3886. The Loonie faces selling pressure as the ongoing trade war between the United States (US) and Canada has raised Ottawa's economic concerns.
The USD/CAD pair is seen consolidating near the weekly high and trading around the 1.3875-1.3880 region during the Asian session on Thursday amid mixed fundamental cues.
The USD/CAD pair bounces off daily lows at 1.3833 and is up about 0.26% on Wednesday, driven by sticky US inflation data, which triggered a jump to new weekly highs amid an ongoing short-term downturn. At the time of writing, the pair trades at 1.3873.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar (CAD) is slightly softer, tracking broader USD gains and weaker Oil, while USD/CAD trades almost exactly at their fair value estimate near 1.3862.
USD/CAD rises 0.30% on Wednesday, trading around 1.3880 at the time of writing.
BNY’s Geoff Yu reports that Washington is considering further trade penalties against Canada after Ottawa’s dollar-for-dollar retaliation to new U.S. tariffs. Canada plans to double counter-tariffs on U.S. steel and aluminum and add new duties on a range of goods.
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 upside prevails as long as 1.3842 is support, with 1.3895 and 1.3909 as targets
below 1.3842, expect 1.3819 and 1.3805.
The upside prevails as long as 1.3842 is support, with 1.3895 and 1.3909 as targets
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