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USD/CAD stays dispel muggy mid-1.33s as attention turns to PMI data

Broad-based USD complaint causes the pair to lose its traction.
WTI extends recovery to let a boost to the loonie.
Ivey PMI from Canada and ISM non-manufacturing PMI from the U.S. neighboring-door.

The USD/CAD pair, which drifting more than 100 pips in the second half of the previous week, started the week a negative note and elongated its slide as the greenback struggled to locate demand and clumsy oil recovery helped the commodity-throbbing loonie pile up strength. However, ahead of the necessary PMI data from both Canada and the United States, the pair has once into a consolidation phase and was last seen trading at 1.3352, losing 0.15% occurring for a daily basis.

Following the slip to its lowest level in more than a year at $42.35 in the last week of the year, the West Texas Intermediate recorded its longest daily winning streak by now June by closing all single hours of the day of 2019's first week in the sure territory. As of writing, the WTI was going on 1.2% up on the day at $48.80.

On the additional hand, the US Dollar Index broke below the 96 handles and is now along with to 0.5% up on the day at 95.72 even if investors are waiting for the ISM non-manufacturing PMI, which is customary to retreat to 59 in December from 60.7 in November. Also in the session, the Richard Ivey School of Business is scheduled to general pardon its PMI story as once ease.


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#1 - January 07, 2019, 03:17:33 PM

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US Dollar Steady ahead of January FOMC Meeting. US-China Trade Talks: The US government shutdown will have a direct impact on how the Federal Reserve operates at the start of 2019.
#2 - January 31, 2019, 02:29:52 AM

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USD/CAD surges to 1-week tops, bulls eyeing a touch greater than 1.3200 handle

The USD builds as regards the recent steady climb despite a magnetism-verification in the US sticking together yields.
 Weaker oil prices undermine Loonie and remained supportive of the certain have an effect on.
 Relatively skinny economic docket seems unlikely to find the money for any meaningful impetus.


The USD/CAD pair jumped to one-week tops in the last hour, when bulls now eyeing a follow-through happening-press on top of the 1.3200 handles.

A merged of supporting factors helped the pair to catch some rushed bids upon Wednesday and finally crack out of its multi-hours of day consolidative range, and construct upon the recent rebound from taking into account more three-month lows set last Friday.

Despite a modest pull-past in the US Treasury sticking together yields, the US Dollar outstretched its steady climb for the third straight session and has now recovered all of its losses that came after a dovish FOMC proclamation last week.

This coupled bearing in mind weaker heaven re unprofessional oil prices unsuccessful to lend any money to the commodity-connected currency - Loonie and remained in agreement the pair's aching intraday happening-make miserable sponsorship happening closer to 100-day SMA barrier.

After posting a daily loss of regarding 1% in the previous session, WTI crude oil languished stuffy one-week lows, just south of mid-$53.00s, and continues to be weighed furthermore to by worries once again the slant for the global economy.

It would now be engaging to the way of physical if the pair is dexterous to extend the in addition to or the current bounce is utilized as a selling opportunity in the company of relatively skinny economic docket, highlighting the lonely set drifting of Canadian Ivey PMI.

Technical levels to watch

On a sustained involve greater than the 1.3200 marks, the pair is likely to aspiration towards challenging its adjacent preserve oppressive mid-1.3200s behind some intermediate resistance near the 1.3215-0 region. On the flip side, the 1.3150-45 region now seems to guard the rapid downside, which if blinking might prompt some spacious disease and drag the pair by now towards inspiring the 1.3100 handles.
#3 - February 06, 2019, 02:33:34 PM

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Good evening, bro, according to the USD fundamentals, it will still come back stronger and for usd cad, it will likely go down
#4 - February 07, 2019, 09:27:56 AM

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USD/CAD recovers toward 1.33 following the proficient drop around hermetic Canada employment data

Employment in Canada rises greater than highly thought of in January.
WTI stays in red ahead of Baker Hughes data.
US Dollar Index rises above 96.50 in the NA session.

The USD/CAD pair came below muggy selling pressure in the in front NA session and dropped to 1.3230 as the loonie gathered strength re the proof impressive January employment data from Canada. However, considering the initial dispel confession, the pair gradually recovered its losses and was last seen trading at 1.3278, where it was still beside 0.17% approximately a daily basis.

Statistics Canada when the reference to Friday reported that the number of employed in Canada rose by 66.8K in January taking into consideration December's 9.3K buildup and surpassed the puff expectation of 8K by a broad margin. Despite that mount taking place, however, the unemployment rate rose to 5.8% along moreover a sophisticated participation rate. With the underlying details of the version revealing that the upsurge in employment was a seasonal skew and was driven mostly by people aged 15-24, the loonie struggled to desist its strength.

Commenting taking place for the data, "The mass of robust job lump, firmer wages and drift well along in the participation rate make for a sound version upon all fronts. This should state sticking together the Bank of Canada's bias towards sophisticated rates, although the revolution across the excitement sector and Alberta present evidence of the headwinds to the economy in Q1," argued TD Securities analysts.

Meanwhile, ahead of the weekly Baker Hughes rig adjoin data, the barrel of West Texas Intermediate is trading in the negative territory unventilated $52.50, not allowing the pair to continue to add-on lower.

On the accessory hand, the US Dollar Index remains upon track to near the 7th straight hours of the day in the sure territory, suggesting that the greenback continues to outperform its major rivals toward the fade away of the week.
#5 - February 10, 2019, 01:57:02 AM

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USD/CAD surges to 1-week tops, bulls eyeing a touch greater than 1.3200 handle

The USD builds as regards the recent steady climb despite a magnetism-verification in the US sticking together yields.
 Weaker oil prices undermine Loonie and remained supportive of the certain have an effect on.
 Relatively skinny economic docket seems unlikely to find the money for any meaningful impetus.


The USD/CAD pair jumped to one-week tops in the last hour, when bulls now eyeing a follow-through happening-press on top of the 1.3200 handles.

A merged of supporting factors helped the pair to catch some rushed bids upon Wednesday and finally crack out of its multi-hours of day consolidative range, and construct upon the recent rebound from taking into account more three-month lows set last Friday.

Despite a modest pull-past in the US Treasury sticking together yields, the US Dollar outstretched its steady climb for the third straight session and has now recovered all of its losses that came after a dovish FOMC proclamation last week.

This coupled bearing in mind weaker heaven re unprofessional oil prices unsuccessful to lend any money to the commodity-connected currency - Loonie and remained in agreement the pair's aching intraday happening-make miserable sponsorship happening closer to 100-day SMA barrier.

After posting a daily loss of regarding 1% in the previous session, WTI crude oil languished stuffy one-week lows, just south of mid-$53.00s, and continues to be weighed furthermore to by worries once again the slant for the global economy.

It would now be engaging to the way of physical if the pair is dexterous to extend the in addition to or the current bounce is utilized as a selling opportunity in the company of relatively skinny economic docket, highlighting the lonely set drifting of Canadian Ivey PMI.

Technical levels to watch

On a sustained involve greater than the 1.3200 marks, the pair is likely to aspiration towards challenging its adjacent preserve oppressive mid-1.3200s behind some intermediate resistance near the 1.3215-0 region. On the flip side, the 1.3150-45 region now seems to guard the rapid downside, which if blinking might prompt some spacious disease and drag the pair by now towards inspiring the 1.3100 handles.
Good predictions
#6 - February 10, 2019, 02:37:54 AM

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USD/CAD recovers toward 1.33 following the proficient drop around hermetic Canada employment data

Employment in Canada rises greater than highly thought of in January.
WTI stays in red ahead of Baker Hughes data.
US Dollar Index rises above 96.50 in the NA session.

The USD/CAD pair came below muggy selling pressure in the in front NA session and dropped to 1.3230 as the loonie gathered strength re the proof impressive January employment data from Canada. However, considering the initial dispel confession, the pair gradually recovered its losses and was last seen trading at 1.3278, where it was still beside 0.17% approximately a daily basis.

Statistics Canada when the reference to Friday reported that the number of employed in Canada rose by 66.8K in January taking into consideration December's 9.3K buildup and surpassed the puff expectation of 8K by a broad margin. Despite that mount taking place, however, the unemployment rate rose to 5.8% along moreover a sophisticated participation rate. With the underlying details of the version revealing that the upsurge in employment was a seasonal skew and was driven mostly by people aged 15-24, the loonie struggled to desist its strength.

Commenting taking place for the data, "The mass of robust job lump, firmer wages and drift well along in the participation rate make for a sound version upon all fronts. This should state sticking together the Bank of Canada's bias towards sophisticated rates, although the revolution across the excitement sector and Alberta present evidence of the headwinds to the economy in Q1," argued TD Securities analysts.

Meanwhile, ahead of the weekly Baker Hughes rig adjoin data, the barrel of West Texas Intermediate is trading in the negative territory unventilated $52.50, not allowing the pair to continue to add-on lower.

On the accessory hand, the US Dollar Index remains upon track to near the 7th straight hours of the day in the sure territory, suggesting that the greenback continues to outperform its major rivals toward the fade away of the week.
#7 - February 10, 2019, 03:39:18 AM

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The USD / CAD currency pair slumped around 0.4 percent to around 1.3252 at the end of the European session (12/2), after holding around 1,330 for three consecutive days. The increase in oil prices and an increase in market risk today are alleged to coincide with the creation of short-term support that supports the strengthening of the Canadian Dollar versus the US Dollar.
#8 - February 13, 2019, 03:28:13 AM

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The USD / CAD currency pair slumped around 0.4 percent to around 1.3252 at the end of the European session (12/2), after holding around 1,330 for three consecutive days. The increase in oil prices and an increase in market risk today are alleged to coincide with the creation of short-term support that supports the strengthening of the Canadian Dollar versus the US Dollar.
INSIDE BAR ON USD/CAD

The bearish sentiment prevails on the USD/CAD currency pair. On Friday, February 22, the trading instrument updated key lows. The Price Action method signals a further drop in the USD/CAD quotes. Near the local support level of 1.31200, some classic Inside Bar patterns (H1 timeframe) have been formed, which currently act as the continuation of the current trend. We recommend paying attention to this situation.

If the price fixes below the level of 1.31200, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is the support level of 1.30800. The movement is tending to 1.30500-1.30200. When tracking positions, we recommend using a trailing stop.
#9 - February 25, 2019, 03:23:09 PM

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US ECONOMIC DATA ON THE MINISTRY, THE DOLLAR IS THE LARGEST DOWN

The US dollar was sharply lower on Friday and was on track for the biggest weekly decline in more than three months, weighed by weak US economic data.

US manufacturing production data fell for the second straight month in February and factory activity in New York was weaker than expected this month, providing further evidence of a decline in economic growth at the beginning of the quarter this year.

Friday's report extended a number of weak economic data and underscored the Federal Reserve's "patience" attitude towards rising interest rates this year. Fed officials are scheduled to meet on Tuesday and Wednesday next week to assess the economy and explain monetary policy in the future. The US central bank raised interest rates four times last year.
#10 - March 15, 2019, 07:56:16 PM

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US ECONOMIC DATA ON THE MINISTRY, THE DOLLAR IS THE LARGEST DOWN

The US dollar was sharply lower on Friday and was on track for the biggest weekly decline in more than three months, weighed by weak US economic data.

US manufacturing production data fell for the second straight month in February and factory activity in New York was weaker than expected this month, providing further evidence of a decline in economic growth at the beginning of the quarter this year.

Friday's report extended a number of weak economic data and underscored the Federal Reserve's "patience" attitude towards rising interest rates this year. Fed officials are scheduled to meet on Tuesday and Wednesday next week to assess the economy and explain monetary policy in the future. The US central bank raised interest rates four times last year.
After break middle band timeframe H1 at friday and price goes reject i assum that usdcad has time to back to main trend where is bullish..so tomorrow i guess i will go to long for usdcad 
#11 - March 17, 2019, 02:22:30 PM

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USD CAD is in an uncertain trend but seems to still be stagnant at the support point before being able to break down.
#12 - May 26, 2019, 02:48:42 AM

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today there will be an announcement of the BoC interest rate which will have a high impact on USDCAD. for December 2019 it is estimated that the BoC will still maintain the benchmark interest rate at the level of + 1.75%.
#13 - December 04, 2019, 02:16:38 AM

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BOC maintains interest rates at 1.7%. Investors' bets on the BOC Rate Cut in the coming months will collapse. last night the USDCAD dropped 0.70 percent to 1.32071. USDCAD ended its two week sideways trend and headed for a low level on November 19.
#14 - December 04, 2019, 11:15:42 PM

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From the explanation of Mr.zanurreload I think the bearish USD trend will still continue at the end of this year.
#15 - December 04, 2019, 11:45:52 PM

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