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USD/CAD still attempting to correct higher
It has been a while since my last update on the USD/CAD and in that time the US dollar has been slowly grinding higher, but without any kind of dynamic move. The USD/CAD reached a new 2024 high on Thursday, when it topped out at 1.3443. That was also its highest level since the end of December last year. That high was just shy of a target level for this rebound that had been highlighted here some while back, at 1.3453 (a 38.2% correction of the fall from 1.3899, to the December low, at 1.3177). The USD/CAD did get slightly upended by the weaker US PPI data on Friday and closed the week at 1.3410. The range seen so far today has been covered by 1.3382 to 1.3427. It is on that high right now.
Market News
All News-
Nasdaq 100 slides below 18,500
Well, so much for the higher opening for the Nasdaq 100 earlier this afternoon. The push back above 18,900 looks some way off now, as the index... -
Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
