The Canadian Dollar (CAD) fell against the Greenback for an eighth consecutive trading day as markets pivot out of the Loonie in favor of the US Dollar.
The Canadian Dollar backslid another tenth of a percent against the Greenback. Despite upbeat labor data from Canada, markets deferred to the US Dollar. US PPI inflation cooled to flat in September, but core PPI remains an issue. The Canadian Dollar fell against the Greenback for an eighth consecutive trading day as markets pivot out of the Loonie in favor of the US Dollar.
3650 level could be possible before the pair attempts to break higher. Overall, the trend appears to have shifted in favor of the USD, but traders should keep an eye on upcoming economic data and any signs of exhaustion in the bullish momentum to manage potential volatility.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD reclaims seven-week high near 1.3650 amid weak Canadian DollarThe USD/CAD pair recaptures a seven-week high near 1.3650 in Tuesday’s European session.
Read more »
Canadian Dollar tumbles for sixth straight dayThe Canadian Dollar (CAD) backslid again on Wednesday, shedding another percent against the Greenback.
Read more »
Canadian Dollar climbs into higher ground as markets move out of the wayThe Canadian Dollar (CAD) gained ground on Tuesday, testing multi-month highs against the softening Greenback.
Read more »
USD/CAD: CAD drifts back to the upper 1.35sThe Canadian Dollar (CAD) is drifting back to very familiar ranges this morning.
Read more »
Canadian Dollar falls further as Canadian Trade Balance contractsThe Canadian Dollar (CAD) shed another quarter of a percent against the Greenback on Tuesday, trimming lower slipping back against the US Dollar for a fifth straight trading day.
Read more »
Canadian Dollar middles as bullish momentum goes on hiatusThe Canadian Dollar (CAD) settled into familiar territory in the midrange on Tuesday after unimpressive Canadian Consumer Price Index (CPI) inflation data failed to spark a bid in CAD flows.
Read more »