USD/CAD: Little pressure on the downside in the next day or so – Scotiabank USDCAD Banks
holds last week’s losses to the mid-1.33s. The pair needs to crack 1.3295 to see further falls, economists at Scotiabank report.“USD/CAD closed net lower on the day Friday, forming a bearish outside range day. That should see spot put a little pressure on the downside in the next day or so but whether losses can extend to test trend support at 1.3295 remains to be seen.”
“The prior week’s price action was USD-bullish which rather means that the CAD will have to better the early Feb low at 1.3262 to rally more sustainably.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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 licks its wounds around 1.3350 as Oil bulls take a breather, US inflation eyedUSD/CAD seesaws around the mid-1.3300s during the early hours of Monday’s Asian session, after falling the most in five weeks the previous day. In doi
Read more »
USD/CAD extends recovery above 1.3370 as spotlight shifts to US InflationThe USD/CAD pair has rebounded firmly after building a cushion of around 1.3340 in the Tokyo session. The Loonie asset has extended its recovery firml
Read more »
USD/CAD Price Analysis: 200-HMA probes buyers below 1.3400USD/CAD retreats from intraday high as buyers struggle to overcome the key Hourly Moving Average (HMA) during early Monday in Europe. Even so, the Loo
Read more »
Trading Support and Resistance \u2013 USD/CADThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »
With little fanfare, lawsuit venue change legislation plows aheadLast year’s version of a bill allowing residents to challenge agency orders in their home counties earned broad support in the Ohio House and Senate. It also earned a quick veto from the governor.
Read more »
Small Chunk Breaks Off the Sun, Does a Little DanceThe Sun apparently got a little goofy as scientists observed a small, strange chunk of it breaking off and doing a little jig.
Read more »