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Market News Topics
December 12, 2018 06:02 GMT
USD/CAD last C$1.3375, trading 15.....>
DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last C$1.3375, trading 15 pips lower on the day, as the
greenback marginally underperformed overnight, while oil prices ticked higher,
with WTI holding above $52/barrel for most of the Asia-Pac session.
- Worth highlighting that Canada granted bail to Huawei CFO, whose recent arrest
has been a bone of contention between Ottawa & Beijing, with China reportedly
arresting a former Canadian diplomat in possible retaliation yesterday. Warmer
tones from Trump re: U.S.-China trade matters also lent some support to risk
sentiment overnight.
- Bears eye the Dec 10 hourly support at C$1.3351, and a break below would open
up the Dec 10 low at C$1.3293. Conversely, bulls need to retake yesterday's peak
at C$1.3424 to regain some upside momentum.
- Canadian docket for the remainder of the week is very limited.
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