The US dollar has rallied against the Canadian dollar again during the day on Monday as the widely reported death of the US dollar seems to be premature.
Technical Analysis
USD/CAD refers to the US Dollar/Canadian Dollar currency pair and it shows how many CAD can be purchased for one USD....
Informally, the CAD is known as the Loonie, because of the loon bird which appears on one side of the Canadian $1 coin. USD/CAD is one of the most liquid, commonly traded major currency pairs, which means narrow spreads for traders. There are a variety of factors influencing the value of USD/CAD. One of the most significant of these is that the CAD is a commodity currency, meaning that its value is closely correlated to the value of a heavily traded commodity. The Canadian economy is strongly reliant on crude oil exports, so the currency will be impacted by oil prices and export capacity. In addition, the value of both currencies in the USD/CAD pair are influenced by the interest rate differential between the American Federal Reserve and the Bank of Canada. For example, an intervention by the Fed that strengthened the US dollar would weaken the Canadian dollar since more CAD would be required to buy a single USD dollar. It is also important to note that the Canadian dollar is one of the five major reserve currencies, meaning that many central banks and other leading financial institutions hold large amounts of CAD to use for international transactions as a way to minimize exposure to exchange rate risks.
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From a technical analysis standpoint, the 1.3550 level begins pretty significant support all the way down to 1.3450. However, this session could see fireworks.
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The US dollar has stabilized a bit against the Canadian dollar which I think speaks volumes at this point. Despite the rhetoric, we are still essentially where we have always been.
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The US dollar pulled back against the Canadian dollar on Monday in quiet holiday trading, with consolidation suggesting a potential dip-buying setup near 1.3750.
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The US dollar continues to consolidate against the Canadian dollar near key EMAs, with bullish potential toward 1.40 as geopolitical tensions support demand.
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The US dollar has continued to firm against the Canadian dollar as the loonie stays under pressure from widening yield spreads, weaker jobs data, and risk‑off sentiment, with USD/CAD holding around the 1.38–1.39 area.
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USD/CAD respects the key 1.38 level as both nations gear up for Friday’s jobs reports, with the pair likely to remain range-bound between 1.36 and 1.40.
Technical Analysis
USD/CAD is grinding higher into 1.38 resistance, with weak oil and modest yield support for USD, while 1.36 remains the key downside floor ahead of jobs data.
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The US dollar initially shot higher against the Canadian dollar on Monday, as the US military actions in Venezuela have caused some jitters.
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My suspicion is we will grind higher, but the speed of it will test your patience in this pair.
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The US dollar has risen against the Canadian dollar again on Tuesday in what looks like it's going to end up being a bit of a turnaround
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The US dollar has rallied against the Canadian dollar on Monday in what is probably best described as a bit of an oversold condition. If we recover, we will see the US dollar rally against many other currencies at the same time.
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The US dollar weakens against the Canadian dollar as holiday liquidity fades, with USD/CAD testing long-term support near 1.3550.
Technical Analysis
The Canadian dollar extends gains as USD/CAD breaks key support, with downside risk toward 1.3550 while broader US dollar weakness remains the main driver.
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USD/CAD remains range-bound near 1.3750 as holiday conditions, shrinking rate differentials, and low liquidity favor short-term consolidation.
Technical Analysis