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Feb 28 - 01:55 PM

USD/CAD - Rallies To New 2024 High Above 1.36 As Risk Weakens Into Month-End

By Paul Spirgel  —  Feb 28 - 11:40 AM
  • $CAD firm in early NorAm +0.35% at 1.3577; Wed range 1.3606-1.3525

  • Pair off o/n high 1.3606, moth-end USD demand ebbing, risk-off abating

  • Commods copper and oil a tad soft; yields lower keeps CAD offered

  • $CAD res 1.3606 Wednesday high, 1.3619 Dec 12 high, 1.3711 Nov 23 high

  • Supt 1.3556 21-Hr MA, 1.3541 100-DMA 1.3525 Wed low, 1.3510 daily cloud top

Source:
Refinitiv IFR Research/Market Commentary

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