USD/CAD Live News

This page provides live coverage and news analysis on the USD/CAD currency pair

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Jun. 24, 2021

After four days of going down, US Dollar/Canadian Dollar up 14 pips today

Live - Updated 50 minutes ago.

Light green, mostly flat: US Dollar/Canadian Dollar ranging between 1.2341 and 1.2283 and is now at 1.2321.

US Dollar/Canadian Dollar green move takes place amid mixed market indicators – Canada Core Retail Sales published yesterday at 12:30 PM came out at -7.2%, falling short of the -5% projections and continuing its decline from the previous 4.3% figure.

More data out yesterday as Released today at 12:30 PM, Canada's Manufacturing Sales (MoM) showed an uptick coming in at one, up from the previous number of -2.1. Released today at 12:30 PM, Canada's Wholesale Sales (MoM) showed an uptick coming in at 1.1, up from the previous number of 0.4.

Chart pattern study shows nearest resistance level is at 1.2466. In terms of trend indicators, we can see that at 1.2323, US Dollar/Canadian Dollar made an initial breakout above 3 day Simple Moving Average, an indication of a positive trend. The MACD line is above the MACD signal line significantly, meaning medium-term trend might turn negative.

Overall, technical indicators suggest US Dollar/Canadian Dollar has no obvious direction for the immediate future.

Other assets are showing mixed performances as USD/HKD trades close to 7.763, with no major change. Nasdaq up to 14,376(0.73%), adding to its four days of gains. After four days of gains, it's down 0.35% today.

US Dollar/Canadian Dollar had a bad year so far, losing 3.45%. Looking at US Dollar/Canadian Dollar's long term behavior shows it is currently on a down trend that started roughly 1 year, 3 months ago.

follow us:

Week to date

US Dollar/Canadian Dollar retracted 165 pips from 2 months high and trades at 1.2321 .

Trading week in a glance - USD/CAD recovered back to 1.2321 after dipping down to 1.225 in a week that started at 1.2437. (Trade US Dollar/Canadian Dollar with FXTM now).

This downslide might be related to financial indicators data published earlier as Canada Core Retail Sales fall short of the -5% projections, with -7.2% and continued its downward trajectory from previous figure of 4.3%. United States GDP matches expectations with new data release of 6.4. This is also a step forward from the previous data of 4.3.

Nonetheless, encouraging indicators for US Dollar/Canadian Dollar published earlier when United States Initial Jobless Claims released earlier shows an improvement to 411,000 from the preceding data of 418,000, but falls short of the projected 380,000.

Meanwhile, Canada Manufacturing Sales (MoM) released today at 12:30 PM with a figure of one, this is better from previous number of -2.1. Canada Wholesale Sales (MoM) released today at 12:30 PM with a figure of 1.1, this is better from previous number of 0.4.

In the meantime negative performances are also seen in other symbols, Pound/Yen drops to 151.29, as it hits a 8 weeks low.

Positive performance however can be seen looking at other symbols as GBP/NZD climbs to a new 10 months high at 1.996.

Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: Canada RMPI (MoM) (May) is expected Wednesday.