Daily Update

Updates on the latest happenings surrounding the Canadian dollar, other USD/CAD-related news, and useful currency exchange tools including our currency converter.

Canadian Dollar Update, July 10, 2020 – Canadian Dollar consolidates yesterday’s losses

USD/CAD Open: 1.3600-04 Overnight Range: 1.3574-1.3631 WTI Oil is at $40.18 and gold is at $1,803.40. US markets are higher today. For today, USD resistance is at 1.3622. Support is at 1.3550. • Shift to negative risk sentiment hurts Canadian dollar • COVID-19 cases continue to rise, sparking demand for safe-haven currencies • Canada employment […]

By KBFX | July 10, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 9, 2020 – Canadian Dollar unphased by massive Federal Budget deficit

USD/CAD Open: 1.3510-11, Overnight Range: 1.3490-1.3558 WTI Oil is at $39.96 and gold is at $1,821.30. US markets are lower today. For today, USD resistance is at 1.3542. Support is at 1.3479. • Canada budget deficit soars to $343.2 billion • Global stock markets ignore news of COVID-19 resurgence in USA • US dollar falls […]

By KBFX | July 9, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 8, 2020 – Canadian Dollar vulnerable to Federal Budget update

USD/CAD Open: 1.3601-05, Overnight Range: 1.3535-1.3623 WTI Oil is at $40.70 and gold is at $1,824.40. US markets are higher today. For today, USD resistance is at 1.3627. Support is at 1.3479. • Canada Finance Minister expected to announce budget deficit of over $300 billion • Rising US COVID-19 cases put traders on the defensive […]

By KBFX | July 8, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 7, 2020 – Canadian Dollar looking for direction

USD/CAD Open: 1.3570-74, Overnight Range: 1.3524-1.3588 WTI Oil is at $40.60 and gold is at $1,809.10. US markets are mixed today. For today, USD resistance is at 1.3602. Support is at 1.3551. • Risk sentiment takes a negative turn • Global equity indexes trade lower overnight • Canadian dollar directionless inside well-defined range The Canadian […]

By KBFX | July 7, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 6, 2020 – Canadian Dollar boosted by positive risk sentiment

USD/CAD Open: 1.3546-50, Overnight Range: 1.3519-1.3563 WTI Oil is at $40.64 and gold is at $1,795.40. US markets are higher today. For today, USD resistance is at 1.3577. Support is at 1.3518. • Risk sentiment climbs with soaring Chinese equities • Bank of Canada Quarterly Business Outlook survey today • Eurozone retail sales lift EURUSD […]

By KBFX | July 6, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 3, 2020 – Canadian Dollar stagnating

USD/CAD Open: 1.3574-78, Overnight Range: 1.3553-1.3581 WTI Oil is at $40.23 and gold is at $1,786.90. US markets are higher. For today, USD resistance is at 1.3603. Support is at 1.3544. • US records another record daily increase in new coronavirus cases • Quiet trading day ahead as America celebrates July 4th • US dollar […]

By KBFX | July 3, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, July 2, 2020 – Canadian Dollar gains lag G-10 major currencies

USD/CAD Open: 1.3590-94, Overnight Range: 1.3560-1.3624 WTI Oil is at $39.93 and gold is at $1,787.30. US markets are higher today. For today, USD resistance is at 1.3699. Support is at 1.3503. • US nonfarm payrolls forecast to increase 3.0 million • US giving back month-end gains • Risk sentiment turns positive on COVID-19 vaccine […]

By KBFX | July 2, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, June 30, 2020 – Canadian Dollar awaiting GDP data

USD/CAD Open: 1.3695-99, Overnight Range: 1.3649-1.3699 WTI Oil is at $39.22 and gold is at $1,786.70. US markets are mixed today. For today, USD resistance is at 1.3708. Support is at 1.3637. • Canada April GDP expected to fall 13% m/m • GBPUSD sinking due to weak data and government spending concerns • Fed’s Powell […]

By KBFX | June 30, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, June 29, 2020 – Canadian Dollar trading sideways

USD/CAD Open: 1.3655-59, Overnight Range: 1.3646-1.3699 WTI Oil is at $38.64 and gold is at $1,781.20. US markets are higher today. For today, USD resistance is at 1.3742. Support is at 1.3631. • Surging US coronavirus cases make markets cautious • German stimulus, EU data, underpin EURUSD • US dollar giving back part of Friday’s […]

By KBFX | June 29, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, June 26, 2020 – Canadian Dollar ending week on sour note

USD/CAD Open: 1.3650-54, Overnight Range: 1.3628-1.3704 WTI Oil is at $38.13 and gold is at $1,757.80. US markets are lower today. For today, USD resistance is at 1.3745. Support is at 1.3634. • Canadian dollar is the weakest currency vs US dollar this week • COVID-19 resurgence leads to some US States pausing reopenings • […]

By KBFX | June 26, 2020 | Daily Update | 0 comments Read more >