MarketPulse | Apr 25, 2018 08:13AM ET
The Canadian dollar has continued its losing ways in the Wednesday session. Currently, USD/CAD is trading at 1.2889, up 0.44% on the day. The Canadian dollar has slipped 1.0%.percent this week, as USD/CAD has the 1.29 level in its sights. In economic news, BoC Governor Stephen Poloz will testify before the Standing Senate Committee on Banking. There are no key events in the US. On Thursday, the US releases durable goods orders and unemployment claims.
The US dollar continues to climb this week, buoyed by rising yields on US bonds, which have hit 4-year highs. On Wednesday, 10-year US Treasury notes have risen to 3.015%, and 2-year bonds have increased to 2.504 percent. With inflation appearing to be on the rise, there are stronger expectations that the Federal Reserve will raise rates four times in 2018, which is good news for the US dollar. With oil pushing above $70 a barrel, there are concerns that inflation will rise, which has pushed bond prices lower and yields upwards. The US currency has also benefitted from a reduction in geopolitical risk, with an easing of tensions between North and South Korea, and a lull in the conflict in Syria.
USD/CAD Fundamentals
Wednesday (April 25)
Thursday (April 26)
*All release times are DST
*Key events are in bold
USD/CAD for Wednesday, April 25, 2018
USD/CAD, April 25 at 8:00 DST
Open: 1.2833 High: 1.2890 Low: 1.2821 Close: 1.2889
USD/CAD Technical
S3 | S2 | S1 | R1 | R2 | R3 |
1.2687 | 1.2757 | 1.2850 | 1.2943 | 1.3015 | 1.3125 |
USD/CAD continues to break through resistance lines. The pair inched higher in the Asian session and has recorded additional gains in European trade
Further levels in both directions:
OANDA’s Open Positions Ratio
USD/CAD ratio is showing little movement in the Wednesday session. Currently, long and short positions are almost evenly split, indicative of a lack of trader bias as to what direction USD/CAD takes next.
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.