1.419
Today
+0.01%
5 Days
+1.11%
1 Month
+2.08%
6 Months
+2.14%
Year to Date
+3.39%
1 Year
+1.78%
Opening Price
1.418Previous Closing Price
1.419
The upside prevails as long as 1.4157 is support, with 1.4215 and 1.4232 as targets
below 1.4157, expect 1.4130 and 1.4114.
The upside prevails as long as 1.4157 is support, with 1.4215 and 1.4232 as targets
Tuesday's two Canadian catalysts, a flat July for the economy and a later start to Bank of Canada (BoC) bond buying, didn't move USD/CAD. The pair went above 1.4200 for the first time since early July and fell back twice.
TD Securities Macro Research Insight notes that markets began to sell off again following the flat July Canadian GDP print, despite its underwhelming nature. The move is concentrated in the front to mid-curve, with Bank of Canada (BoC) pricing unchanged and US yields near key technical levels.
USD/CAD remains on the front foot on Tuesday, supported by broad-based strength in the US Dollar (USD), while traders also digest the latest Canadian growth data. At the time of writing, the pair trades around 1.4187, hovering near levels last seen in early July.
Scotiabank’s analysts highlight a softer Canadian Dollar, trading defensively with G10 peers. Wider US–Canada yield spreads remain a headwind as Bank of Canada (BoC) expectations firm, with October priced for 14 bps and December for 37 bps of tightening.
The US Dollar (USD) is up 0.12% at around 1.4190 against the US Dollar (USD) during the European trading session on Tuesday.
The USD/CAD pair prolongs a three-week-old upward trajectory, rising to its highest level since July 9 and closer to the 1.4200 mark during the Asian session on Tuesday amid a bullish US Dollar (USD).
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
This feature includes nine of the commonly used technical indicators: MACD, RSI, KDJ, StochRSI, ATR, CCI, WR, TRIX and MA. You may also adjust the timeframe depending on your needs.
Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
