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USDCAD Slips As Equities Buoyed

CANADA
  • USDCAD slides to nudge through yesterday’s low (and initial support) of 1.3589 to 1.3587.
  • After mostly looking through US and CAD data initial volatility aside, the pair has since fallen ~60 pips.
  • The move, which accelerated in the past 30 minutes with a 30 pip decline, comes with S&P E-minis jumping higher. A concerted push here could next see support at the 20-day EMA of 1.3527 although for now it appears to see some support at circa 1.359.

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