1.388
Today
+0.09%
5 Days
-0.41%
1 Month
-0.96%
6 Months
+1.79%
Year to Date
+1.14%
1 Year
+0.44%
Opening Price
1.386Previous Closing Price
1.387USD/CAD trades little changed on Tuesday as rising long-term US Treasury yields lift the US Dollar (USD), while elevated Oil prices underpin the commodity-linked Canadian Dollar (CAD). At the time of writing, the pair trades around 1.3874, near levels last seen in early June.
USD/CAD extends its losses for the fourth successive day, trading around 1.3870 during the European hours on Tuesday. The currency pair depreciates as the commodity-linked Canadian Dollar (CAD) gains support from firming crude oil prices.
Commerzbank FX analyst Michael Pfister highlights that the Canadian Dollar’s recent weakness contrasts with a fragile recovery in Canada’s real economy.
The USD/CAD pair struggles to capitalize on the overnight bounce from its lowest level since June 3, around the 1.3845 zone, also representing the 200-day Simple Moving Average (SMA) support, and oscillates in a narrow band on Tuesday.
The USD/CAD pair struggles to build on the overnight bounce from the 200-day Simple Moving Average (SMA) support near the 1.3845 region, or the lowest level since June 3, and is seen consolidating during the Asian session on Tuesday.
Royal Bank of Canada (RBC) economists Abbey Xu and Nathan Janzen note that Canadian inflation rose to 3% year-over-year in July, mainly on higher energy costs, while underlying measures like CPI-trim and CPI-median stayed near the 2% target.
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 1.3854 is support, with 1.3900 and 1.3913 as targets
below 1.3854, expect 1.3832 and 1.3820.
The upside prevails as long as 1.3854 is support, with 1.3900 and 1.3913 as targets
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