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Aug 03 - 08:55 AM

USD/CAD - Stops Vulnerable, Bears Look For PMI Beat

By Richard Pace  —  Aug 03 - 06:37 AM
  • USD/CAD recovery just shy of touted stops residing above Thurs 1.2530 high

  • Oil slide after weak U.S. Manf PMI data Monday has weighed on the loonie

  • Break/close above 21-dma 1.2538 opens 200-dma and Wed peak 1.2591/1.2604

  • Oil recovers 73.55 from 72.31 Mon, helps limit further USD/CAD gains for now

  • USD/CAD bears could use a Cnd manf PMI beat Tues, after its recent decline



For more click on FXBUZ


Canada MFG PMI Click here

CAD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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