The Chinese economy’s optimism had a positive impact on the Canadian dollar, giving the commodity currency a big lift. Being a significant global supplier of numerous commodities, the loonie gained traction despite declining crude oil prices. Since then, COVID cases in China have continued to constrain the upside for commodity demand, as we have seen […]
According to a Reuters poll, the Canadian dollar (CAD) will grow over the course of the next year as key commodities user China relaxes COVID-19 restrictions and the Federal Reserve may have finished its interest rate hike campaign. Since the beginning of 2022, the loonie has lost nearly 7% of its value against the US […]
The Canadian Dollar (CAD) did not particularly perform well last week relative to its major rivals, with losses against the US dollar (USD), the euro (EUR), and the pound sterling (GBP). Poor economic data that pointed to a slowdown in the economy as well as the early drop in oil prices pushed down the CAD. […]
USD/CAD now moving sideways following its printing of a new twenty years height of 1.3623 during the Tokyo session. The pair is getting set for a new Rally as it is anticipated to advance its 4 days straight gaining. We can’t eliminate the possibility of a minor corrections as the pair keeps moving higher while […]
USDCAD Analysis – August 17 USDCAD market continues to respect the upward trendline as it moves downward to hit the trendline. On the daily timeframe, the current market order flow, which began on May 18, 2021, remains bullish. Before the upward movement, the market retested and broke the previous support level of 1.2950 on the […]
The USD/CAD pair resumed a bearish momentum on Tuesday as the currency pair approached its monthly low of 1.2837. The Canadian dollar could come under additional pressure from the Consumer Price Index (CPI) data release tomorrow as economists expect an increase to 8.4% in June from the 7.7% annual rate recorded in May. Also, worsening […]
The Canadian dollar (CAD) currently enjoys a near-term bullish outlook as the Bank of Canada (BoC) reportedly prepares for an aggressive rate hike. However, a Reuters poll suggests that the CAD could see a cap on its gains due to its dependence on the housing market. According to the poll, the median forecast is that […]
The USD/CAD pair traded on a bullish path in the London session on Tuesday, as the currency pair hit a one-week high at 1.2871. However, the pair appears to have run out of bullish steam as it spiraled towards the 1.2820 amid a mild weakness in the US dollar. Modest optimism over the progressing peace […]
