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CAD Gains Amid USD Pause: Is the Peak Behind Us?


25.11.2024
CAD Gains Amid USD Pause: Is the Peak Behind Us?

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.3850-1.4060

Euro                 1.4540-1.4750

Sterling            1.7420-1.7630

 

WTI Oil (opening level) $72.15

The CAD is opening at 1.3964 ( 0.7161)

Could the USD strength have peaked for now?

US 10-year yields are at an almost 2-week low, and are a solid coincident indicator for some US dollar consolidation, if not for how deep it could prove.

We have a holiday week ahead and end-of-the-month before a long wait for the arrival of the Trump administration on January 20. So the Trump bump maybe taking a pause.

It is odd to see CAD as strong when you look at a USDCAD chart, but take a look at GBPCAD and you get the idea. Euro weakness is still pronounced, but a huge bounce from Friday lows.

 



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09.04.2024

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar        1.3550-1.3650

Euro                1.4700-1.4800

Sterling           1.7150-1.7250

16.05.2022

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar             1.2900-1.3000

Euro                     1.3450-1.3550

Sterling                1.5800-1.5900

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US Dollar             1.2800-1.2900

Euro                     1.3100-1.3200

Sterling                1.5650-1.5750