USD/CAD reaches 1.3495 but drops as Oil price recovers, amidst Fed hawkish rhetoric – by christianborjon USDCAD Majors Macroeconomics Technical Analysis
, commented, “if there is a need to take further measures by reducing production to balance supply and demand, we always remain ready to intervene.”
Even though the US Dollar strengthened on those comments, the USD/CAD remained comfortably around the 1.3300-1.3400 range before climbing to new two-week highsThe USD/CAD daily chart portrays the head-and-shoulders chart pattern remains in play, albeit the pair edged toward the neckline around 1.3495. Once the price hit that threshold, Loonie buyers stepped in, dragging the USD/CAD lower, toward 1.3450s.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD: Rebound to stall near the mid-1.34 zone – ScotiabankUSD/CAD clings to gains above 1.3400. However, economists at Scotiabank expect the mid-1.24s to cap the advance. Firm resistance seen at 1.3495 “Corre
Read more »
Weekly Forex Forecast \u2013 GBP/USD, USD/CADLast week saw the GBPUSD currency pair print a weakly bullish candlestick which closed with a significantly large upper wick- forextrade forextrading
Read more »
USD/CAD Price Analysis: Bulls have the upper hand above 1.3400, 23.6% Fibo. levelUSD/CAD Price Analysis: Bulls have the upper hand above 1.3400, 23.6% Fibo. level – by hareshmenghani USDCAD Technical Analysis Majors Currencies
Read more »
Indian shares decline on China COVID woes, hawkish FedIndia's shares fell on Monday, dragged down by information technology and energy companies, amid worsening COVID-19 infection numbers in China and likelihood of a tighter U.S. monetary policy.
Read more »
Treasury yields rise as markets assess inflation outlook and Fed policy plansU.S. Treasury yields climbed on Monday as investors awaited further clues about the Federal Reserve’s monetary policy plans from central bank speakers.
Read more »