USD/CAD Outlook (29 May 2020)
U.S. Dollar/Canadian Dollar FX:USDCAD
Overall, USD/CAD is trending downwards. Recently, USD/CAD has been ranging across. The Canadian GDP m/m data (Forecast: -9.0%, Previous: 0.0%) will be released later at 2030 (SGT). The Canadian economy is expec
The dollar dropped back as risk appetite picked up on news that Japan and the EU are moving closer to finalizing massive recovery funds, along with hopes for extra ECB stimulus. The narrow trade-weighted USD index has tumbled back under 99.00 and printed a 24-day low at 98.72. The euro rose against
The forex markets turned mixed today, together with major Asian indices. Dollar and Yen are trying to recover but there isn’t any conviction in buying. Both remain the worst performing ones for the week so far. News regarding lockdown exits and coronavirus vaccines were generally welcomed. But inves
The dollar has remained buoyant amid narrow ranges in early-week trading so far. Conditions will be thin today with both UK and U.S. markets out for public holidays. Tensions between the U.S. and China continued to build over the weekend. Amid the developments, the U.S. will be adding anther 33 Chin
USD/CAD pulls away from four-day highs, stays above 1.4000.
Modest rebound seen in crude oil prices helps commodity-related CAD find demand.
US Dollar Index rises on risk aversion on Friday.
The USD/CAD pair rose to its highest level since Monday at 1.4050 on Friday but started to retrace its ra
The dollar and yen are in outperforming mode as global stocks drop as China, at its annual National People's Congress, confirmed that there will be a bill establishing "an enforcement mechanism for ensuring national security" for Hong Kong. U.S. President Trump had earlier said he would "react stron
Yen and Dollar remains the strongest ones for today while commodity currencies are weakest, led by Aussie. There was no follow through buying in Dollar and Yen beyond Asian session. The panic selloff in Hong Kong stocks didn’t spillover to other markets and even US futures are pointing to slightly h
USD/CAD gains strong positive traction for the second straight session on Friday.
Escalating US-China tensions, softer risk sentiment benefitted the safe-haven USD.
A sharp intraday fall in oil prices undermined the loonie and remained supportive.
The USD/CAD pair built on the previous day's pos
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Pivot (invalidation): 0.9690
Long positions above 0.9690 with targets at 0.9725 & 0.9740 in extension.
Below 0.9690 look for further downside with 0.9
The dollar has picked up safe haven demand as stock markets flagged in Europe and the Asia-Pacific region, and with S&P 500 futures correcting most of the gains seen during Wednesday's regular session on Wall Street. The narrow trade-weighted USD index rebounded to a high at 99.43, up from the 1