Free Trial

USDCAD Lower With Broader USD Moves

CANADA
  • USDCAD has pushed lower to 1.3351 before lifting a few pips closer to weekly lows of 1.3341 courtesy of crude oil reversing yesterday’s slide and equities extending yesterday’s gains.
  • Yesterday’s range was the narrowest since Jan 1 and before that equalled the narrowest in 2023.
  • Prior gains in the pair are seen as corrective with resistance at 1.3415 (Jan 9 high), whilst a broader technical trend outlook remains bearish with support seen at 1.3229 (Jan 2 low).
  • US CPI headlines the docket with no meaningful USDCAD option expiry at nearby strikes at the subsequent NY cut.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.