The Canadian Dollar (CAD) has slipped a little so far today after grinding higher through 1.3450 yesterday.
The Canadian Dollar has slipped a little so far today after grinding higher through 1.3450 yesterday,Scotiabank's Chief FX Strategist Shaun Osborne notes. CAD edges off highs but holds in upper 1.34s “CAD losses are limited in the grander scheme of things though and the solid gains in the CAD through August so far is surely putting the squeeze on the aggressive buildup of CAD short positioning that developed through the middle of the year—just as the CAD troughed.
3521, which may constrain CAD short-covering gains somewhat. There are no Canadian data reports today. Q2 Current Account data is out tomorrow and June/Q2 GDP is updated on Friday. Steady spot gains on the session so far may develop a little more traction above 1.3470/75 resistance on the day to regain 1.35+.” “But the USD rebound is still some way away from making any impression on the August downtrend . Support is 1.3440.
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 IG Client Sentiment: Our data shows traders are now net-long USD/CAD for the first time since Jul 18, 2024 when USD/CAD traded near 1.37.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CAD-bearish contrarian trading bias.
Read more »
USD/CAD: Short-term momentum remains USD bearishThe Canadian Dollar (CAD) is little changed and continues to hold its established range, Shaun Osborne chief FX strategist notes.
Read more »
USD/CAD recovers to near 1.3750 ahead of Canadian employment dataThe USD/CAD pair trades with mild gains near 1.3740, snapping the five-day losing streak during the early Asian session on Friday.
Read more »
USD/CAD languishes near multi-week low, eyes Canadian jobs data for fresh impetusThe USD/CAD pair remains under some selling pressure for the fifth straight day and is weighed down by a combination of factors.
Read more »
USD/CAD Price Prediction: Defends 50-day SMA support above 1.3700 ahead of Canadian jobs dataThe USD/CAD pair once again finds some support near the 50-day Simple Moving Average (SMA) and stages a modest bounce from the 1.3720-1.3715 region, or a three-week low touched earlier this Friday.
Read more »
USD/CAD exhibits volatility above 1.3700 on weak Canadian EmploymentThe USD/CAD pair delivers volatile moves above the round-level support of 1.3700 after the release of the weak Canadian Employment data for July.
Read more »