USD/CAD 43 pips away from downside target...
Not quite role reversal, but a marked change of fortunes as the Dollar loses post-US PMI momentum and the DXY struggles to maintain 93.000+ status within a 93.016-266 range. Accordingly, the Euro has pared losses and is back above 1.1800, albeit tentatively as 2nd waves of the coronavirus spread across the Eurozone.
Here on dollar-cad, we are still looking for the next new low to form early into this week.
Hope everyone has a great week ahead.
Here on dollar-cad, we are still looking for the next new low to form early into this week.
Hope everyone has a great week ahead.
Note
CADThe Loonie has slipped to the bottom of the G10 ranks and lost its connection with oil that had been capping Usd/Cad and pushed the pair down through 1.3150 at one stage. However, US-Canadian relations remain strained after the former re-imposed tariffs on certain goods and a WTO panel has subsequently ruled mostly in favour of the latter’s complaint against softwood lumber anti-subsidy duties. Hence, Usd/Cad now probing back above 1.3200.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.