Canadian Greenback Might Fall on USD/CAD Reversal Cues, Commerce Struggle Fears

HomeMarket OutlookAsian Market

Canadian Greenback Might Fall on USD/CAD Reversal Cues, Commerce Struggle Fears

Asia Pacific Market Open Speaking FactorsUSD/CAD might reverse increased on bullish technical hints, markets eyeing BoCMushy US k


Asia Pacific Market Open Speaking Factors

  • USD/CAD might reverse increased on bullish technical hints, markets eyeing BoC
  • Mushy US knowledge possible fueled spillover fears into Canada. Commerce struggle fears rose
  • Australian Dollar awaiting CPI knowledge as Japanese Yen seems to be to the BoJ forward

Discover out what the #1 mistake that traders make is and how one can repair it!

The Canadian Dollar was the worst-performing main on Tuesday, even failing to capitalize on an increase in crude oil prices throughout the US session. A transparent catalyst appeared absent, however it may need been hypothesis that the Financial institution of Canada may ship dovish ahead steerage at its anticipated rate of interest maintain tomorrow. The Loonie holds the title as of one of many highest-yielding liquid currencies.

As such, the foreign money is especially susceptible to knowledge that dangers taking away its high-rate benefit. Which may have stemmed from the US, Canada’s high buying and selling accomplice. Within the US, housing costs in 20 cities on common declined about -0.2% m/m versus -0.1% anticipated. In the meantime, native shopper confidence dipped to its lowest since June. The US Dollar additionally noticed some weak point as dismal knowledge spooked buyers.

Disappointing US Information – Housing Costs and Shopper Confidence

Canadian Dollar May Fall on USD/CAD Reversal Cues, Trade War Fears

Take a look at the DailyFX Economic Calendar for updates on key even threat for the foremost currencies!

In the meantime, threat tendencies…



www.dailyfx.com