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Jan 04 - 01:55 PM

USD/CAD - Rallies Off 2021 Low 1.2666 As COVID Angst Dents Global Growth View

By Paul Spirgel  —  Jan 04 - 11:45 AM
  • USD/CAD off Europe low 1.2666 to 1.2752; Mon range 1.2760-1.2666

  • USD broadly bid after NY option cut; $IDX back near flat, amid virus angst

  • Weak oil (CLc1 -2.2%) aids CAD dip; glbl growth view hit as COVID cases rise

  • USD/CAD back w/in Bolli envelope, eyes 21-DMA by 1.2796, dly Kijun at 1.2845

  • Support 1.2685 lower 21-d Bolli, then 1.2666 Jan 4 low, 1.2588 Apr 2018 wkly low

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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