The Canadian Dollar (CAD) is rebounding on Thursday, recovering ground previously lost in the midweek market session as broad market flows in the Greenback dictate overall market sentiment.
Canadian Dollar pivots into high side on Thursday amid fresh risk appetite. Canada finds better-than-expected Current Account figures. US GDP growth cooled as expected, sparking fresh rate cut hopes. The Canadian Dollar is rebounding on Thursday, recovering ground previously lost in the midweek market session as broad market flows in the Greenback dictate overall market sentiment. Canadian trade balance numbers fell in the first quarter, but less than expected, helping to bolster the CAD.
3660 on Thursday in a quick turnaround from Wednesday’s peak near 1.3735. The pair is running into near-term technical resistance at the 200-hour Exponential Moving Average at 1.3670, with an intraday floor priced in at this week’s swing low into 1.3615. Daily candles continue to etch in a rough consolidation pattern, and USD/CAD is mired in a sideways grind near the 50-day EMA at 1.3646. Long-term technical support is coming from the 200-day EMA at 1.3557.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Dollar gains ground as Greenback recedes on ThursdayThe Canadian Dollar (CAD) found some bids on Thursday after investors’ risk-appetite stepped up, bolstering markets out of safe-havens like the US Dollar (USD).
Read more »
Canadian Dollar holds ground against Greenback as markets grapple with inflation figuresThe Canadian Dollar (CAD) is mixed on Tuesday after broader markets focused on the latest round of inflation figures from the US as investors continue to look for signs of rate cuts from the Federal Reserve (Fed).
Read more »
Canadian Dollar gains ground against softening Greenback as US CPI inflation coolsThe Canadian Dollar (CAD) is broadly softer on Wednesday as one of the day’s weakest performers, but the CAD will have to settle for second-worst as the US Dollar (USD) broadly retreats following a cooler-than-expected print of US Consumer Price Index (CPI) inflation.
Read more »
Canadian Dollar gains ground against holiday-weakened GreenbackThe Canadian Dollar (CAD) is mixed on Monday, climbing against the US Dollar (USD) thanks to a quiet US market session.
Read more »
Canadian Dollar adds to losses on thin Wednesday as Greenback reboundsThe Canadian Dollar is softening across the board on Wednesday, shedding weight as the safe haven Greenback catches a broad-market bid.
Read more »
Canadian Dollar extends the downside below 1.3750 ahead of Canadian Retail Sales dataThe USD/CAD pair trades on a stronger note for the fifth consecutive day near 1.3730 on Friday during the Asian trading hours.
Read more »