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, May 28, 2020 – Canadian Dollar climbing ahead of month end

USD/CAD Open: 1.3768-72, Overnight Range: 1.3734-1.3789 WTI Oil is at $32.73 and gold is at $1,735.70. US markets are higher today. For today, USD resistance is at 1.3820. Support is at 1.3702. • Month-end rebalancing flows lifting Canadian dollar • Traders ignore BC court ruling against Huawei CFO • Negative risk sentiment simmers with US/China […]

By KBFX | May 28, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 27, 2020 – Canadian Dollar extends gains

USD/CAD Open: 1.3774-75, Overnight Range: 1.3727-1.3812 WTI Oil is at $33.59 and gold is at $1,689.90. US markets are mixed today. For today, USD resistance is at 1.3818. Support is at 1.3708. • Bearish USDCAD technicals fuel losses • Optimism for a sharp rebound in global economy powers risk sentiment • EU proposes € 1.1 […]

By KBFX | May 27, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 26, 2020 – Canadian Dollar jumps, Risk sentiment improves

USD/CAD Open: 1.3884-86, Overnight Range: 1.3786-1.3985 WTI Oil is at $33.89 and gold is at $1,708.30. US markets are higher today. For today, USD resistance is at 1.3870. Support is at 1.3749. • China tensions overshadowed by global economy re-openings • Oil price jump gives Canadian dollar added support • Commodity currency bloc rally drives […]

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

Canadian Dollar Update, May 25, 2020 – Canadian Dollar adrift in quiet FX

USD/CAD Open: 1.3972-75, Overnight Range: 1.3970-1.4007 WTI Oil is at $33.45 and gold is at $1,726.90. US markets are mixed today. For today, USD resistance is at 1.4006. Support is at 1.3975. • Quiet FX markets with UK and US closed for holiday • China/HK tensions and China/Australia trade spat fan “risk-off” fears • Eurozone […]

By KBFX | May 25, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 22, 2020 – Canadian Dollar rally becomes rout

USD/CAD Open: 1.4021-25, Overnight Range: 1.3941-1.4048 WTI Oil is at $32.69 and gold is at $1,736.30. US markets are lower today. For today, USD resistance is at 1.4078. Support is at 1.3992. • WTI oil prices tumble 5.5% overnight, still up 8% since last Friday • US dollar opening with gains but will still finish […]

By KBFX | May 22, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 21, 2020 – Canadian Dollar consolidating gains

USD/CAD Open: 1.3925-29, Overnight Range: 1.3891-1.3946 WTI Oil is at $34.33 and gold is at $1,726.70. US markets are lower today. For today, USD resistance is at 1.3959. Support is at 1.3855. • Surging crude prices underpinning Canadian dollar • Global risk sentiment turns negative as Trump/China dispute heats up • Weekly US jobless claims […]

By KBFX | May 21, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 20, 2020 – Canadian Dollar tracking Wall Street

USD/CAD Open: 1.3908-12, Overnight Range: 1.3867-1.3960 WTI Oil is at $33.45 and gold is at $1,749.80. US markets are higher today. For today, USD resistance is at 1.3908. Support is at 1.3848. • Wall Street gains support Canadian dollar • US crude inventories seeing draw-downs, underpinning WTI prices • FOMC minutes likely to be a […]

By KBFX | May 20, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 19, 2020 – Canadian Dollar flexing its muscles

USD/CAD Open: 1.3936-40, Overnight Range: 1.3873-1.3969 WTI Oil is at $31.69 and gold is at $1,744.20. US markets are mixed today. For today, USD resistance is at 1.3913. Support is at 1.3851. • Risk sentiment bolstered by German/France bond stimulus plan • Oil prices soar on reports of higher gasoline usage • President Trump escalates […]

By KBFX | May 19, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 14, 2020 – Canadian Dollar under stress

USD/CAD Open: 1.4070-73, Overnight Range: 1.4068-1.4140 WTI Oil is at $26.09 and gold is at $1,739.60. US markets are lower today. For today, USD resistance is at 1.4185. Support is at 1.4065. The Canadian dollar is under stress. So are all the major G-10 currencies, except for the Japanese yen, after Fed Chair Jerome Powell […]

By KBFX | May 14, 2020 | Daily Update | 0 comments Read more >

Canadian Dollar Update, May 13, 2020 – Canadian Dollar recouping yesterday’s losses

USD/CAD Open: 1.4031-35, Overnight Range: 1.4006-1.4092 WTI Oil is at $25.58 and gold is at $1,722.40. US markets are lower today. For today, USD resistance is at 1.4122. Support is at 1.3995. • Canadian dollar climbs on improved risk tone • President Trump wants negative interest rates • Fed Chair Powell on deck at 9:00 […]

By KBFX | May 13, 2020 | Daily Update | 0 comments Read more >