The USD/CAD pair attracts some buyers for the third successive day on Wednesday and trades around the 1.3770-1.3775 area, or the top end of its weekly range during the Asian session.
USD/CAD trades with a positive bias for the third successive day on Wednesday. Bearish Crude Oil prices continue to undermine the Loonie and act as a tailwind. Subdued USD price action caps the upside ahead of Fed Chair Powell’s speech. Crude Oil prices add to the overnight slump below a technically significant 200-day Simple Moving Average and drop to the lowest level since late July. This, in turn, is seen undermining the commodity-linked Loonie and acting as a tailwind for the USD/CAD pair.
Hence, the focus remains glued to Fed Chair Jerome Powell's scheduled speech later during the early North American session, which will be scrutinized closely for cues about the next policy move. This, in turn, will drive the USD demand and provide a fresh impetus to the USD/CAD pair. In the absence of any relevant market-moving economic releases, either from the US or Canada, traders will further take cues from Oil price dynamics to grab short-term opportunities.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
USD/CAD declines toward 1.3600 as soft US labor demand ramps up steady Fed betsThe USD/CAD pair has dropped to near 1.330 and is expected to extend its downside near the round-level support of 1.3600.
Lire la suite »
USD/CAD looks to continue the losing streak, hovers near 1.3650USD/CAD aims to lose ground on the fourth consecutive day to continue the losing streak, treading waters near 1.
Lire la suite »
USD/CAD: A return to the 1.35 area looks a reasonable targetCAD stages bull reversal on weak USD. Economists at Scotiabank analyze USD/CAD outlook.
Lire la suite »
USD/CAD climbs further beyond 1.3700 amid bearish Oil prices, modest USD strengthThe USD/CAD pair attracts some buying for the second straight day on Tuesday and builds on the overnight goodish rebound from the 1.3630-1.3625 region, or a near three-week low.
Lire la suite »
USD/CAD Price Analysis: Rallies to near 1.3750 amid recovery in US DollarThe USD/CAD pair recovered vertically to near 1.3750 as investors cleansed positions from risk-perceived assets and rushed back to the risk-aversion theme.
Lire la suite »