(VIANEWS) – USD/CAD loses its gains of 1.2830, as traders become cautious before Friday’s key employment data in the US and Canada. This weakness in the Loonie pairs could be due to recent firmer WTI crude oil prices, Canada’s main export. It also may have been caused by market consolidation and a waiting for fully-fledged markets.
FXStreet confirmed that the quotation refreshed the weekly lowest on Thursday, before risk-off sentiment propelled prices toward posting their largest daily gains in the past two weeks. According to the Bank of England (BOE), forecasts indicating doubt-digit inflation or economic recession may have been the catalysts behind the USD/CAD bears’ recent risk-aversion.
USD/CAD (USDCAD) is currently on bullish momentum. At 15:06 EST on Sunday, 8 May, USD/CAD (USDCAD) is at 1.2905, 0.5509% up since the last session’s close.
USD/CAD (USDCAD) Range
Regarding USD/CAD’s daily highs and lows, it’s 0.71% up from its trailing 24 hours low of $1.28 and 0.078% up from its trailing 24 hours high of $1.29.
USD/CAD’s yearly highs and lows, it’s 7.47% up from its 52-week low and 0.447% down from its 52-week high.
Last news about USD/CAD (USDCAD)
- Usd/cad hovers around 1.2830 as investors await us-Canada employment data. According to FXStreet on Friday, 6 May, “The USD/CAD pair is oscillating in a range of 1.2814-1.2866 as the market participants are eyeing the release of employment data from the US and Canada. “
- Usd/cad prints three-day downtrend near 1.2700 amid firmer oil, sluggish USD. According to FXStreet on Thursday, 5 May, “Looking forward, the US Jobless Claims, Nonfarm Productivity and Unit Labor Cost details may entertain USD/CAD traders but major attention will be given to the risk catalysts ahead of the key Friday when the Canadian and the US employment data for April will be out.”, “Also supporting USD/CAD bears are the recently easing MACD bullish signals and steady RSI.”
- Usd/cad trims post-fed losses and eyes 1.2900 amid a dismal mood. According to FXStreet on Thursday, 5 May, “The USD/CAD trims Wednesday’s losses and is approaching March’s 15 daily highs around 1.2871 after the Federal Reserve raised interest rates by 0.50% for the first time in 22 years. “, “Additionally, the Relative Strength Index (RSI) shifted gears and is aiming higher, at 60.99, with enough room if the USD/CAD prints another leg-up.”
- Usd/cad rebounds from over one-week low, moves back above mid-1.2700s amid stronger USD. According to FXStreet on Thursday, 5 May, “This, in turn, held back traders from placing aggressive bearish bets around the Canadian dollar and kept a lid on any further gains for the USD/CAD pair, at least for now.”, “The USD/CAD pair allied over 50 pips from the daily swing low, though lacked follow-through buying. “
- Usd/cad: canadian employment should prove broadly supportive of the loonie – ING. According to FXStreet on Friday, 6 May, “The balance of risk for CAD today is slightly tilted to the upside, though our preference for USD/CAD trading sub 1.25 in 2H22 will require some calmer international conditions.”
News about EUR/USD
- Eur/usd aims to test 1.0650 as fed’s policy underpins risk-on impulse, US NFP in focus. According to FXStreet on Thursday, 5 May, “The EUR/USD pair is oscillating in a narrow range of 1.0603-1.0642 in the Asian session after a firmer upside move from 1.0534. “
- Eur/usd price analysis: fed-inspired upside loses steam near 1.0650. According to FXStreet on Thursday, 5 May, “The Fed vapored out any hopes for a 75 bps June rate hike smashing the dollar alongside the Treasury yields, allowing EUR/USD to stage a solid recovery through the 1.0600 barrier.”
- According to FXStreet on Thursday, 5 May, “The EUR/USD pair returned to the 1.0500 area after touching a weekly high of 1.0641. “
- Eur/usd tumbles toward 1.0500 as US dollar soars. According to FXStreet on Thursday, 5 May, “The EUR/USD is falling sharply and is about to test the 1.0500 area, weakened by a rally of the US dollar. “
- Eur/usd to fall closer to and below parity on disruptive outcome for gas supplies – MUFG. According to FXStreet on Thursday, 5 May, “A more disruptive than expected outcome for European gas supplies would increase the likelihood of EUR/USD falling closer to and below parity in the coming months.”, “Downside risks to growth in Europe should ensure that the room for EUR/USD to continue correcting higher should prove limited for now.”
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