Canadian Dollar Update, November 18, 2020 – Canadian Dollar Trading Sideways
USD/CAD Open: 1.3061-65, Overnight Range: 1.3040-1.3117 WTI Oil is at $41.95 and gold is at $1,880.00. US markets are higher today. For today, USD resistance is at 1.3097. Support is at 1.3010. • Canada October CPI ahead-forecast 0.2% m/m • Eurozone and UK data have limited impact on FX • US opens lower compared to […]
Canadian Dollar Update, November 17, 2020 – Canadian Dollar Trades in Narrow Range
USD/CAD Open: 1.3067-71, Overnight Range: 1.3063-1.3116 WTI Oil is at $40.89 and gold is at $1,885.40. US markets are mixed today. For today, USD resistance is at 1.3133. Support is at 1.3078. • Positive risk sentiment starts to wane • EU/UK Brexit rumours support GBPUSD • US Retail Sales for sixth consecutive month The Canadian […]
Canadian Dollar Update, November 13, 2020 – Canadian Dollar Feeling “Unlucky”
USD/CAD Open: 1.3119-23, Overnight Range: 1.3116-1.3172 WTI Oil is at $40.30 and gold is at $1,885.70. US markets are higher today. For today, USD resistance is at 1.3189. Support is at 1.3114. • Friday the 13th looking unlucky for Loonie • Traders are cautious as US Coronavirus cases surge • US dollar poised to end […]
Canadian Dollar Update, November 12, 2020 – Canadian Dollar Drifting Lower
USD/CAD Open: 1.3064-68, Overnight Range: 1.3051-1.3149 WTI Oil is at $42.18 and gold is at $1,877.30. US markets are mixed today. For today, USD resistance is at 1.3160. Support is at 1.3080. • Canadian dollar softer on renewed US dollar demand • US election drama weighs on risk sentiment • Global equities on the defensive […]
Canadian Dollar Update, November 11, 2020 – Canadian Dollar Consolidating Gains
USD/CAD Open: 1.3035-39, Overnight Range: 1.3008-1.3076 WTI Oil is at $42.23 and gold is at $1,863.90. US markets are higher today. For today, USD resistance is at 1.3109. Support is at 1.3019. • US Politics and COVID-19 driving risk sentiment • RBNZ less dovish than expected: NZDUSD soars • US dollar firms and grinding out […]
Canadian Dollar Update, November 10, 2020 – Canadian Dollar Rally Deflates
USD/CAD Open: 1.3039-43, Overnight Range: 1.2984-1.3050 WTI Oil is at $41.29 and gold is at $1,875.70. US markets are mixed today. For today, USD resistance is at 1.3030. Support is at 1.2981. • Yesterday’s COVID-19 vaccine euphoria fades • UK House of Lords rejects parts of Internal Markets Bill • US dollar firms against majors, […]
Canadian Dollar Update, November 5, 2020 – Canadian Dollar Making a Move
USD/CAD Open: 1.3118-22, Overnight Range: 1.3037-1.3043 WTI Oil is at $38.46 and gold is at $1,950.70. US markets are higher today. For today, USD resistance is at 1.3071. Support is at 1.3019. • Canadian dollar drives higher in early Toronto trading • US election is still undecided • Global “risk-on” rally sinks US dollar Canadian […]