(VIANEWS) – The USD/CAD pair has continued to build on the recent rebound from the psychological mark of 1.2500 and achieved strong follow-through traffic for the fourth consecutive day.
This momentum pushed USD/CAD to its highest level since July 20, which may be supported by the fact that Investors appear to be convinced that the Fed is ready to withdraw the crisis-era stimulus.
Expectations that the Fed will begin reducing its asset purchases sooner rather than later, combined with a risk-off atmosphere, drove the safe-haven US dollar to nine-month highs.
USD/CAD (USDCAD) is currently on bullish momentum. At 15:07 EST on Thursday, 19 August, USD/CAD (USDCAD) is at 1.2822, 1.3389% up since the last session’s close.
USD/CAD (USDCAD) Range
About USD/CAD’s daily highs and lows, it’s 1.408% up from its trailing 24 hours low of $1.26 and 1.288% up from its trailing 24 hours high of $1.27.
USD/CAD’s yearly highs and lows, it’s 6.779% up from its 52-week low and 4.456% down from its 52-week high.
USD/CAD’s last week, last month’s, and last quarter’s current volatility was 0.06%, 0.19%, and 0.64%, respectively.
USD/CAD’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.17% (last week), 0.46% (last month), and 0.64% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, USD/CAD’s Forex is considered to be oversold (<=20).
Last news about USD/CAD (USDCAD)
Usd/cad price analysis: crosses 200-dma to refresh monthly high. According to FXStreet on Tuesday, 17 August, “During the quote’s sustained trading beyond 1.2610, the 1.2675 can challenge the USD/CAD bulls on their way to the last month’s top surrounding 1.2810.”, “Meanwhile, pullback moves need to provide a daily closing below the 200-DMA level of 1.2560 to recall the USD/CAD sellers. ”
Usd/cad teases monthly top above 1.2650 amid weak oil prices, risk-off mood. According to FXStreet on Thursday, 19 August, “Looking forward, weekly prints of US Jobless Claims and monthly Philadelphia Fed Manufacturing Index will join second-tier employment figures from Canada to entertain USD/CAD traders. “, “With sustained trading beyond the 200-DMA level of 1.2555, USD/CAD prices are on their way to March 2021 top surrounding 1.2740.”
Usd/cad eyes 1.2800 as WTI tumbles over 3% amid risk-off mood. According to FXStreet on Thursday, 19 August, “Looking forward, if the risk-aversion extends into the American session, then the safe-haven dollar could see a fresh leg higher, reviving the buying interest around USD/CAD and driving the rates towards 1.2800.”
Usd/cad off monthly highs, challenges 1.2600 ahead of canadian cpi, fed minutes. According to FXStreet on Wednesday, 18 August, “Looking at USD/CAD technically, the pair is reversing for a test of the 200-Daily Moving Average (DMA), the previous strong resistance now turned support, at 1.2558.”
News about USD/JPY
Usd/jpy sellers keep reins below 110.00 amid firmer Japan gdp, downbeat treasury yields. According to FXStreet on Monday, 16 August, “In addition to the firmer Japanese growth numbers, the risk-off mood also favor USD/JPY sellers. “, “Looking forward, a light calendar in Asia, except for the China data dump, could keep USD/JPY traders on the search for qualitative catalysts for fresh impulse. ”
Usd/jpy remains depressed below mid-110.00s, near two-week lows. According to FXStreet on Monday, 16 August, “The USD/JPY pair maintained its offered tone heading into the European session and was last seen trading near two-week lows, around the 109.40-35 region.”, “The risk-off impulse in the markets benefitted the safe-haven Japanese yen and continued exerting some pressure on the USD/JPY pair. ”
According to FXStreet on Monday, 16 August, “At the same time, our short-term valuation model estimate based on yield spreads is signalling that USD/JPY has not fully tracked the recent move higher in US rates.”, “The release of latest FOMC minutes is the main event risk for the week ahead with the USD/JPY pair set to test July’s high of 111.66, as reported by MUFG Bank.”
Usd/jpy: 108.72 and 108.20 are key technical supports to look out for – DBS bank. According to FXStreet on Monday, 16 August, “Low momentum readings have USD/JPY consolidating before the key Jackson Hole risk event. ”
Usd/jpy remains depressed below mid-109.00s, over one-week lows. According to FXStreet on Monday, 16 August, “Monday’s US economic docket features the only release of the Empire State Manufacturing Index, though is unlikely to provide any meaningful impetus to the USD/JPY pair. “, “Apart from this, a modest pickup in the US dollar rebound extended some support to the USD/JPY pair. ”
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