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Jan 06 - 01:55 PM

USD/CAD - Early USD Weakness Reversed, CAD Bulls Remain In Control

By Paul Spirgel  —  Jan 06 - 11:43 AM
  • USD/CAD hovers near 1.2700, off Europe low 1.2631; NorAm range 1.2722-1.2665

  • Early CAD gains, to 3-yr high, on expected Democratic Senate win, reversed

  • UST yields, equities rise as mkts price in enhanced stimulus nL1N2JH0U8

  • Despite USD rise, bears in control below 1.2901, 50% Fib of 1.317-1.2631

  • Falling cloud, daily/weekly MA's hint at further USD weakness

  • Break below lwr 21-D/Wk Bolli's by 1.2655 eyes 1.2528 Apr 2018 weekly low

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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