Canadian Dollar Forecast and Updates

USD/CAD Open: 1.3069-1.3070 Overnight Range: 1.3043-1.3094 Oil is at $58.07 and gold is at $1,413. US markets are mixed today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3094. Support is at 1.3041. The Canadian dollar got knocked for a loop yesterday and plunging oil prices was mostly to blame. West […]

USD/CAD Open: 1.3035-1.3036 Overnight Range: 1.3033-1.3065 Oil is at $59.72 and gold is at $1,414. US markets are mixed today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3072. Support is at 1.3000. The Canadian dollar broke below minor support overnight, and the move shifted the focus to further losses in […]

Economic Outlook and Summary The U.S Federal Reserve’s dovish turn in the month of June caused the U.S dollar to register its first loss since January 2019. The Fed has signaled rate cuts could be coming in 2019 and possibly be in the month of July. Since the USD is heavily trade-weighted, it is still […]

USD/CAD Open: 1.3025-1.3026 Overnight Range: 1.3020-1.3051 Oil is at $60.65 and gold is at $1,413. US markets are higher today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3050. Support is at 1.3002. The Canadian dollar is consolidating last week’s gains in a quiet start to the week. The currency benefitted […]

USD/CAD Open: 1.3079-1.3080 Overnight Range: 1.3042-1.3087 Oil is at $60.62 and gold is at $1,415. US markets are higher today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3128. Support is at 1.3015. The Canadian dollar is in demand. Fed Chair Jerome Powell’s testimony to Congress and the Bank of Canada […]

USD/CAD Open: 1.3081-1.3082 Overnight Range: 1.3069-1.3144 Oil is at $59.45 and gold is at $1,412. US markets are higher today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3158. Support is at 1.3012. It is D-Day for the Canadian dollar. More accurately, it is Bank of Canada decision day. The BoC […]

USD/CAD Open: 1.3125-1.3126 Overnight Range: 1.3086-1.3134 Oil is at $57.73 and gold is at $1,396. US markets are lower today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3148. Support is at 1.3096. The Canadian dollar is retreating, and so far, it has been orderly. That could change if USDCAD prices […]

USD/CAD Open: 1.3066-1.3067 Overnight Range: 1.3049-1.3089 Oil is at $57.76 and gold is at $1,403. US markets are lower today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3074. Support is at 1.3031. The Canadian dollar is trading with a positive tone in early Toronto markets. Currency traders chalked up Friday’s […]

USD/CAD Open: 1.3118-1.3119 Overnight Range: 1.3043-1.3129 Oil is at $57.27 and gold is at $1,393. US markets are lower today. The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3212. Support is at 1.2981. The Canadian dollar traded a tad softer in an uneventful overnight session. The lack of FX follow-through in […]

USD/CAD Open: 1.3060-1.3061 Overnight Range: 1.3053-1.3086 Oil is at $56.86 and gold is at $1,417. US markets are higher today. The short-term USD/CAD technicals are neutral-bullish. For today, USD resistance is at 1.3085. Support is at 1.3043. The Canadian dollar is still grinding out gains. The rally that began on July 17 is intact, but […]