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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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Also read
14.01.2021

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

US Dollar         1.2650-1.2750

Euro                 1.5350-1.5450

Sterling            1.7250-1.7350

04.03.2021

 

 

 

 

 

 

 

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04.07.2022

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

US Dollar             1.2800-1.2900

Euro                     1.3400-1.3500

Sterling                1.5600-1.5700