1.389
Today
+0.31%
5 Days
+0.37%
1 Month
-0.89%
6 Months
+1.85%
Year to Date
+1.25%
1 Year
+1.16%
Opening Price
1.385Previous Closing Price
1.385USD/CAD trades on the front foot on Tuesday, supported by a firmer US Dollar (USD), while trade tensions between the United States (US) and Canada and diverging Federal Reserve (Fed) and Bank of Canada (BoC) policy expectations weigh on the Canadian Dollar (CAD).
TD Securities highlights asymmetric upside risk in USD/CAD as US–Canada trade tensions escalate.
The US Dollar (USD) trades slightly higher to near 1.3863 against the Canadian Dollar (CAD) during the European trading session on Tuesday. The Loonie pair remains broadly as ongoing trade tensions between the United States (US) and Canada have put the Canadian Dollar under pressure.
The USD/CAD pair is hovering around mid-1.3800s during the Asian session on Tuesday, though the lack of follow-through selling warrants caution before positioning for an extension of the previous day's retracement slide from an over two-week top.
USD/CAD falls 0.24% on Monday and trades around 1.3870 at the time of writing, after reaching its highest level in more than two weeks earlier. The pair comes under pressure from both a stronger Canadian Dollar (CAD), supported by rising Oil prices, and a modest pullback in the US Dollar (USD).
Scotiabank strategists Shaun Osborne and Eric Theoret observe that the Canadian Dollar (CAD) is little changed, with USD/CAD trading around their fundamental equilibrium estimate near 1.3920.
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 positive.
below 1.3879, expect 1.3854 and 1.3839.
The upside prevails as long as 1.3879 is support, with 1.3938 and 1.3953 as targets
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