OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CAD falls for the third week in a row

FXStreet (Córdoba) - USD/CAD gained ground on Friday and trimmed weekly losses. The pair that bottomed on Thursday at 1.2831 rose on Friday and peaked at 1.2939 during the US session.

It was about o end the week around 1.2910/15, less than 40 pips below the level it had a week ago and far from the highs that lie at 1.3080.

On Friday, the US dollar rose across the board pushing USD/CAD to the upside, despite a recovery in crude oil prices and Canadian economic data.

Data ahead

Next week no economic report of great impact will be release in the US. Attention would lie over the words of some Federal Reserve officials. In Canada the main event will be the monetary policy decision of the Bank of Canada (BoC). No change in rates is expected. “In our view, BoC policymakers will remain on hold next week to wait for incoming data. In that regard, August data on retail spending will print on Thursday and September CPI data are on the docket on Friday”, said analysts from Wells Fargo Bank.

AUD/USD: bearish signals mounting - Scotiabank

Analysts at Scotiabank explained that AUD technicals hint to the risk of decline as we note the rejection of 100 day MA (0.7353) resistance, with momentum fading further from its recent overbought levels (the RSI peaked just above 70 on Monday, October 12).
Read more Previous

AUD/USD headed 0.6940 and beyond?

AUD/USD is currently trading at 0.7276 with a high of and 0.7339 and a low of 0.7249.
Read more Next
Start livechat