Canadian Dollar Forecast and Updates

USD/CAD Open: 1.3094-98, Overnight Range: 1.3036-1.3162 WTI Oil is at $41.38 and gold is at $1,935.00. US markets are lower today. For today, USD resistance is at 1.3154. Support is at 1.3108. • US dollar higher ahead of employment data today and Friday • Oil price drop, undermines Canadian dollar • US dollar extends Wednesday’s […]

USD/CAD Open: 1.3058-62, Overnight Range: 1.3053-1.3095 WTI Oil is at $41.60 and gold is at $1,941.20. US markets are higher today. For today, USD resistance is at 1.3103. Support is at 1.3022. • Yesterday, US Manufacturing PMI strength fueled US dollar gains • Soft Eurozone data, dovish ECB expectations weigh on EURUSD • US dollar […]

USD/CAD Open: 1.3008-12, Overnight Range: 1.2994-1.3078 WTI Oil is at $42.99 and gold is at $1,979.00. US markets are higher today. For today, USD resistance is at 1.3102. Support is at 1.3012. • New month, same story-sell US dollars • EURUSD ignores data flirts with 2-year high • US dollar down against major G-10 currencies […]

USD/CAD Open: 1.3066-70, Overnight Range: 1.3034-1.3046 WTI Oil is at $42.82 and gold is at $1,973.90. US markets are mixed today. For today, USD resistance is at 1.3069. Support is at 1.3019. • UK holiday drains liquidity from FX market • US dollar poised to close August with losses against the major G-10 currencies, except […]

USD/CAD Open: 1.3067-72, Overnight Range: 1.3047-1.3132 WTI Oil is at $43.05 and gold is at $1,975.30. US markets are higher today. For today, USD resistance is at 1.3125. Support is at 1.3083. • Month-end portfolio rebalancing boosts Canadian dollar • Dovish Fed suggests US rates will remain lower longer than previously expected • US dollar […]

USD/CAD Open: 1.3149-53, Overnight Range: 1.3101-1.3166 WTI Oil is at $43.09 and gold is at $1,935.50. US markets are mixed today. For today, USD resistance is at 1.3197. Support is at 1.3038. • Fed Chair Powell delivers major speech this morning • Hurricane Laura underpins crude prices on supply disruption fears • US dollar opens […]

USD/CAD Open: 1.3173-77, Overnight Range: 1.3136-1.3205 WTI Oil is at $43.42 and gold is at $1,953.70. US markets are mixed today. For today, USD resistance is at 1.3169. Support is at 1.3113. • Canadian dollar getting a small lift from higher crude prices • US Durable Goods data will be ignored by FX traders • […]

USD/CAD Open: 1.3211-15, Overnight Range: 1.3177-1.3239 WTI Oil is at $43.39 and gold is at $1,922.80. US markets are mixed today. For today, USD resistance is at 1.3228. Support is at 1.3174. • US/China optimistic about Phase 1 Trade deal • EURUSD climbs after IFO Survey data • Canadian dollar tracking EURUSD moves The Canadian […]

Economic Outlook and Summary The Federal Reserve announced a neutral stance in its July meeting, holding rates in the 0-0.25% range. Equity markets continue to surge, as tech leads the push and employment numbers remain positive. Despite the positivity, investors are increasingly adopting a risk-off sentiment as elections approach. The uncertainty is amplified by a […]

USD/CAD Open: 1.3152-56, Overnight Range: 1.3134-1.3224 WTI Oil is at $42.61 and gold is at $1,940.10. US markets are higher today. For today, USD resistance is at 1.3251. Support is at 1.3186. • Global risk sentiment improves slightly • Markets looking ahead to Jackson Hole Symposium, Thursday • US dollar is on the defensive in […]