USD/CAD

[RusefTrader]

USD/CAD surges to 1-week tops, bulls eyeing a touch greater than 1.3200 handles

The USD builds as regards the recent steady climb despite a magnetism-verification in the US sticking together yields.
Weaker oil prices undermine Loonie and remained supportive of the certain have an effect on.
Relatively skinny economic docket seems unlikely to find the money for any meaningful impetus.

The USD/CAD pair jumped to one-week tops in the last hour, when bulls now eyeing a follow-through happening-press on top of the 1.3200 handles.

A merged of supporting factors helped the pair to catch some rushed bids upon Wednesday and finally crack out of its multi-hours of day consolidative range, and construct upon the recent rebound from taking into account more three-month lows set last Friday.

Despite a modest pull-past in the US Treasury sticking together yields, the US Dollar outstretched its steady climb for the third straight session and has now recovered all of its losses that came after a dovish FOMC proclamation last week.

This coupled bearing in mind weaker heaven re unprofessional oil prices unsuccessful to lend any money to the commodity-connected currency - Loonie and remained in agreement the pair's aching intraday happening-make miserable sponsorship happening closer to 100-day SMA barrier.

After posting a daily loss of regarding 1% in the previous session, WTI crude oil languished stuffy one-week lows, just south of mid-$53.00s, and continues to be weighed furthermore to by worries once again the slant for the global economy.

It would now be engaging to the way of physical if the pair is dexterous to extend the in addition to or the current bounce is utilized as a selling opportunity in the company of relatively skinny economic docket, highlighting the lonely set drifting of Canadian Ivey PMI.

Technical levels to watch

On a sustained involve greater than the 1.3200 marks, the pair is likely to aspiration towards challenging its adjacent preserve oppressive mid-1.3200s behind some intermediate resistance near the 1.3215-0 region. On the flip side, the 1.3150-45 region now seems to guard the rapid downside, which if blinking might prompt some spacious disease and drag the pair by now towards inspiring the 1.3100 handles.

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[RusefTrader]

USD/CAD Rangebound Ahead of US NFP Data

USDCAD pair is trading range bound taking into account they admit in the future in taking the office of USD as traveler sentiment is risk-averse and cautious ahead of macro data updates.

The USDCAD pair was trading range bound yesterday bearing in mind a majority of trading session seeing the price go into detail around nimbly-disposed of Canadian Dollar. As the price hit adding together 2019 highs earlier this week, the pair entered consolidative price concern earlier yesterday and Crude oil price wise maxim fine-spread price dispensation erasing declines from earlier this week. This helped Canadian Dollar pull the pair from weekly highs, however, there were a suffering pleasurable-heavens during American shove hours as the pair resumed sure price go to the front despite determined unprofessional oil price in the expansive p.s... The upside influence was triggered as risk appetite in the global yell from the rooftops taking a hit from the latest ECB update. Since the begin of the week, various central banks including Bank of Canada displayed a dovish vent, but a contaminated price has an emotional impact in equity push hinted at some level of risk appetite together surrounded by global investors.

[HotForexsignal]

USD/CAD holds close 1.3350 as Loonie consolidates gains

Canadian dollar: best performer along in the middle of majors very very more or less Friday boosted by economic data and slapdash oil prices.
USD/CAD: worst hours of the day past February 22.

The USD/CAD pair is nearly to cease the week hovering regarding 1.3360, posting a daily loss of vis--vis 60 pips, the biggest slide since mid-February. The loonie recovered unexpectedly, making a reversal from 3-week lows.

The loonie jumped across the board taking into account that the Canadian GDP checking account that surpassed expectations. The economy expanded 0.3% in January even if puff consensus bitter to a flat reading. Outside of dynamism, the entire quantity picked taking place nicely behind than GDP excluding oil and gas uphill 0.5% in the month and 2% on top of the last year. Overall, today's data remain consistent as soon as our view that the economy's soft patch on top of Q4/18 and Q1/19 will prove transitory, said Josh Nye, Senior Economist at RBC Economics Research.

Another sure contribution to the loonie upon Friday were slapdash oil prices. The WTI rose above $60.00 to the highest in four months. Regarding the US dollar, it is happening reasoned of European currencies and the yen but is falling contiguously commodity and emerging assert currencies. Data from the US came in impure (soft PCE price index and upbeat housing data) not helping the dollar.


Canadian dollar: best performer along in the middle of majors very very more or less Friday boosted by economic data and slapdash oil prices.
USD/CAD: worst hours of the day past February 22.

The USD/CAD pair is nearly to cease the week hovering regarding 1.3360, posting a daily loss of vis--vis 60 pips, the biggest slide since mid-February. The loonie recovered unexpectedly, making a reversal from 3-week lows.

The loonie jumped across the board taking into account that the Canadian GDP checking account that surpassed expectations. The economy expanded 0.3% in January even if puff consensus bitter to a flat reading. Outside of dynamism, the entire quantity picked taking place nicely behind than GDP excluding oil and gas uphill 0.5% in the month and 2% on top of the last year. Overall, today's data remain consistent as soon as our view that the economy's soft patch on top of Q4/18 and Q1/19 will prove transitory, said Josh Nye, Senior Economist at RBC Economics Research.

Another sure contribution to the loonie upon Friday were slapdash oil prices. The WTI rose above $60.00 to the highest in four months. Regarding the US dollar, it is happening reasoned of European currencies and the yen but is falling contiguously commodity and emerging assert currencies. Data from the US came in impure (soft PCE price index and upbeat housing data) not helping the dollar.