USD/CAD Live News

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Jan. 24, 2022

US Dollar/Canadian Dollar hovers around 1.2635

Live - Updated 28 minutes ago.

US Dollar/Canadian Dollar recovering almost all the way back to 1.2635 today, after dipping down to 1.2635.

Meanwhile, data for Canada Manufacturing Sales (MoM) was released today at 1:30 PM suggests a downwards trend with 0.8, while previous data was 2.6. United States Services PMI fall short of the 55 projections, with 50.9 and continued its downward trajectory from previous figure of 57.6. United States Manufacturing PMI fall short of the 56.7 projections, with 55 and continued its downward trajectory from previous figure of 57.7.

In terms of trend indicators, we can see that at 1.2557, USD/CAD made an initial breakout below the 200 day Simple Moving Average, an indication of a negative trend. Even though currently pointing down, earlier the medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. As the day reaches an end a chart visual study suggests US Dollar/Canadian Dollar's immediate support is around 1.2577, its resistance level is at 1.2935.

Overall, while US Dollar/Canadian Dollar has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

In the meantime, negative performances are also seen in other symbols, EUR/AUD broke through the 1.5851 resistance.

In addition, following four days of losses, USD/SGD is now flat at 1.3461. The 0.7106 support line failed to hold and Aussie/Dollar dropped 35 pips below it.

The market will keep its eye on the following upcoming macroeconomics indicators: Canada Manufacturing Sales (MoM) is scheduled for tomorrow at 1:30 PM. United States Consumer Confidence projected to come out at 111.8 — worse than previous data of 115.8; data will be released tomorrow at 3:00 PM.

US Dollar/Canadian Dollar is having a rough year so far losing 0.44%. A study of US Dollar/Canadian Dollar's past performance indicates that it is currently on an uptrend that started around a month ago.

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Week to date

US Dollar/Canadian Dollar soars to 1.2635 (a 0.53% gain) after closing the previous session at 1.2569 .

A good end to the trading week, after ending the previous week at 1.2569, USD/CAD went up to 1.27 only to drop back to midpoint range and now trades at 1.2635. (Trade US Dollar/Canadian Dollar with FXTM now).

US Dollar/Canadian Dollar's green move takes place amid mixed market indicators — Canada Core Retail Sales fall short of the 1.3% projections, with 1.1% and continued its downward trajectory from previous figure of 1.3%. Canada Core Consumer Prices released Wednesday with a figure of 0%, while the previous figure was 0.6%.

At the same time, Canada Manufacturing Sales (MoM) is released with a new figure of 0.8, this is down from preceding data of 2.6. Canada New Housing Price Index (MoM) (Dec) fall short of the one projections, with 0.2 and continued its downward trajectory from previous figure of 0.8. Canada Retail Sales published Friday came out at 0.7%, falling short of the 1.2% projections and continuing its decline from the previous 1.5% figure.

Outlook for rest of the week: The market is looking forward to the release of new data: Canada Interest Rate is expected Wednesday. Canada BOC Press Conference set for Wednesday. Canada Wholesale Sales (MoM) (Nov) scheduled to come out Wednesday.