USD/CAD dropped to key support

USD/CAD dropped to key support

2020-10-08 • Dikemaskini

The US dollar waned on hopes for the fiscal stimulus, allowing riskier currencies to move higher, and the Canadian dollar as well.

US unemployment claims came out worse than expected: 840 000 Americans filed for jobless benefits, while 820 000 were expected. It should push USD/CAD to the downside.

The Fed’s meeting minutes have encouraged investors by optimistic comments on the current recovery pace. Moreover, Vice Presidential debates were held yesterday, which turned out considerably less contentious. The post-debates reaction has been positive as Joe Biden is leading the elections race. If he wins, the larger fiscal stimulus should be unveiled than in the case of Trump’s victory.

Despite downbeat crude oil inventories, oil prices continue rallying upwards. As you may know, the Canadian dollar is really sensitive to the fluctuations in oil prices. Therefore, the CAD has been boosted by the rebound of the oil market.

Technical tips

USD/CAD went down to the significant support level of 1.3235, which was acting as resistance during the late August-early September period. It’s likely to bounce off this level, but if unemployment claims came out worse than the forecasts, it may weigh on the USD even more and drive the pair to the downside. The move below 1.3235 will push the price lower to the 200-period moving average of 1.3215. On the flip side, the move above the high of mid-August at 1.3270 will clear the way towards the 100-period moving average of 1.3295.

USDCADH4.png

TRADE NOW

Serupa

Brexit: masa hadapan GBP
Brexit: masa hadapan GBP

Brexit selesai. Apa yang akan terjadi pada ekonomi UK dan pound? Ketahui di dalam artikel kami.

Berita terkini

Deposit dengan sistem pembayaran tempatan anda

Notis pengumpulan data

FBS menyimpan rekod data anda untuk mengoperasikan laman web ini. Dengan menekan butang "Terima", anda menyetujui Polisi Privasi kami.

Callback

Pengurus akan menghubungi anda dalam amsa terdekat

Tukar nombor

Permohonan anda telah diterima

Pengurus akan menghubungi anda dalam amsa terdekat

Permohonan panggil balik seterusnya untuk nombor telefon ini
boleh dilakukan dalam dalam

Jika anda mempunyai isu yang perlu disegerakan, sila hubungi kami menerusi
Live Chat

Masalah dalaman. Sila cuba sebentar lagi

Jangan bazir masa anda – pantau bagaimana NFP mempengaruhi dolar AS dan kaut keuntungan!

Anda sedang menggunakan pelayar web yang versinya sudah lapuk.

Kemaskini kepada versi terkini atau cuba pelayar lain untuk penggunaan yang lebih selamat, selesa dan produktif.

Safari Chrome Firefox Opera