1.392
Today
-0.12%
5 Days
-0.87%
1 Month
-1.62%
6 Months
+2.80%
Year to Date
+1.44%
1 Year
+1.23%
Opening Price
1.393Previous Closing Price
1.394USD/CAD trades under pressure on Tuesday, staying on the back foot for a third straight day. However, the pair lacks follow-through selling as the US Dollar (USD) holds firm ahead of Wednesday’s US Consumer Price Index (CPI) data.
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is supported by higher Oil prices and Friday’s strong Canadian jobs data versus weaker US labour figures.
USD/CAD trades around 1.3935 on Tuesday at the time of writing, virtually unchanged on the day with a modest 0.03% decline.
The USD/CAD pair is seen consolidating its recent losses to a two-month low, touched last week, and trading below mid-1.3900s during the Asian session on Tuesday.
The Canadian Dollar trades at its strongest against the US Dollar since the second week of June, with the rate holding just above 1.3900 into the afternoon.
USD/CAD trades on the back foot on Monday even as the US Dollar (USD) regains some ground after weakening last week following softer-than-expected US Nonfarm Payrolls (NFP) data. Attention now turns to Wednesday’s US Consumer Price Index (CPI) report.
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 1.3958 is resistance, with 1.3910 and 1.3898 as targets
above 1.3958, look for 1.3979 and 1.3991.
The downside prevails as long as 1.3958 is resistance, with 1.3910 and 1.3898 as targets
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