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Aug 23 - 01:55 PM

USD/CAD - Steady As US PMIs Follow Global PMIs Lower; UST Yields Slide

By Paul Spirgel  —  Aug 23 - 12:05 PM
  • $CAD off early NY high 1.3604, -0.02% at 1.3546; Wed range 1.3604-1.3533

  • Soft US PMI leads to unwind of early gain after soft Europe PMIs

  • Commods sideways oil -1%, copper +1.3% keeps CAD anchored near flat

  • $CAD res 1.3604 Wed high, 1.3646 upper 21-d Bolli, 1.3668 Apr 28 high

  • Supt 1.3533 Wed low, 1.3512 10-DMA, 1.3457 200-DMA

  • Close below 1.3374, 50% Fib of 1.3655-1.3093 shifts momentum to USD bears

Source:
Refinitiv IFR Research/Market Commentary

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