USD/CAD continues to press higher following technically positive close last night

The fallout from the trade dispute between the US and Canada continued to weigh on the Canadian dollar yesterday and the USD/CAD did eventually lift above its 200 day moving average that was in place at 1.3844, as we noted earlier in the day. The USD/CAD also managed to close just above that level last night, at 1.3845. 

We noted how this deepening dispute was likely to weigh more on the CAD than it would be on the USD and as you can see this morning, that has certainly been the case. The USD/CAD has extended the topside move to 1.3867 so far. Granted it is not exactly running away on the topside, but the CAD has weakened. The lower oil price now this morning has not helped it much either by the looks of it. The USD/CAD is right now at 1.3861
 

Market News

All News

Ready to Get Started?

Start here. Join over 12M Libertex users around the world!

Start Now

© 2022, Libertex
Risk Warning: Trading in financial instruments is a risky activity and can bring not only profits, but also losses. The amount of possible losses is limited by the amount of the deposit.

Libertex is a trademark of Libertex International Company LLC.

Libertex.org is a trading platform operated by Forex Club International LLC, a company registered in St. Vincent and the Grenadines (Registration No. 1277 LLC 2021), with credit card payments processed by Holcomb Finance Limited, a company registered in Cyprus at Kennedy 12, Kennedy Business Centre, Floor 2, 1087 Nicosia, Cyprus, Registration No. HE 183254.

The entity that accepts payments from clients and transfers credit card payments back to clients is Holcomb Finance Limited.

The Company does not accept any customers from and does not operate in any of the following restricted countries, such as: Russia, USA, Japan, Brazil and European Union; countries identified by FATF as high risk and non-cooperative jurisdictions having strategic AML/CFT deficiencies; and countries that are under international sanctions.

Trading CFDs does not give сlients ownership of the underlying assets. No underlying asset is delivered to the сlient.

Before opening an account with us, you should read the legal documents relating to the entity that you're registering with. Please note that our legal documents vary depending on which entity you hold your trading account with and the regulations that apply to you. The relevant entity is determined based on your location and is stated in the footer of the application you register in.

Deposits and withdrawals

mc_vrt_rgb_pos
ULTIMATE SET
for investors and traders!
  • Get free stocks up to $200
  • Free $10 to trade crypto
free shares promotion