The Canadian Dollar (CAD) found some bids on Thursday after investors’ risk-appetite stepped up, bolstering markets out of safe-havens like the US Dollar (USD).
Canadian Dollar propped up by broad-market, risk-on sentiment. Canada has a resilient financial system, says BoC Macklem. Canadian labor numbers slated to print on Friday. The Canadian Dollar found some bids on Thursday after investors’ risk-appetite stepped up, bolstering markets out of safe-havens like the US Dollar . The Greenback is broadly softer on the day, and CAD traders are finding fresh buying momentum.
This week’s bullish swing fumbled from 1.3760, and swing highs are having a difficult time establishing footholds. Daily candlesticks continue to trade north of 1.3650 as the pair finds support from the 50-day EMA at 1.3636. Despite a near-term bearish tilt pulling the pair down from the last swing high into 1.3850, the pair is still up on the year, trading up 3.3% from 2024’s opening bids of 1.3246.
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