1.379
Today
-0.11%
5 Days
-1.04%
1 Month
-1.60%
6 Months
+0.82%
Year to Date
+0.50%
1 Year
-0.55%
Opening Price
1.380Previous Closing Price
1.381USD/CAD trims part of its earlier losses on Thursday as the US Dollar (USD) stages a modest recovery following the previous day’s sharp selloff. However, the pair stays on the back foot as higher Oil prices support the commodity-linked Canadian Dollar (CAD).
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that USD/CAD is under pressure as broad US Dollar (USD) weakness combines with tentative progress on a US-Canada trade deal.
The USD/CAD pair declines to around 1.3790 during the early European trading hours on Thursday. The US Dollar (USD) weakens against the Canadian Dollar (CAD) as cooling US inflation dampens aggressive US Federal Reserve (Fed) policy expectations.
USD/CAD extends its losses for the second successive day, trading around 1.3800 during the Asian hours on Thursday. The pair declines as the commodity-linked Canadian Dollar (CAD) receives support from improved oil prices.
USD/CAD declines on Wednesday and trades around 1.3810 at the time of writing, down 0.62% on the day.
National Bank of Canada’s (NBC) Angelo Katsoras argues that Canada’s push to diversify exports away from the United States (US) toward the European Union (EU) faces growing obstacles as EU industrial policy turns more protectionist.
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 1.3806 is resistance, with 1.3753 and 1.3740 as targets
above 1.3806, look for 1.3827 and 1.3839.
The downside prevails as long as 1.3806 is resistance, with 1.3753 and 1.3740 as targets
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