10 Aug 2015
USD/CAD drops below 1.3100 as dollar retreats, crude oil rises
FXStreet (Córdoba) - USD/CAD lost strength after reaching 1.3180 and turned to the downside. During the last hours accelerated the decline after breaking below 1.3100.
CAD outperforming AUD, NZD
The pair printed a fresh daily low at 1.3080 and remains near the lows as the US dollar retreats across the board. The loonie was boosted also by a recovery in crude oil prices. The barrel (WTI) is rising almost 1% as it trades above $44.50.
“There is not a whole lot going on USDCAD in the overnight session and we do not expect today be very active, if, much at all. The 1.31/32 region looks to be the near-term consolidation range established through last week, and despite a brief collapse to 1.3049 on Friday following the payrolls volatility, we think the range will hold”, said analysts from TD Securities.
The loonie is also rising on Monday against the Kiwi and the aussie, trimming last week losses.
CAD outperforming AUD, NZD
The pair printed a fresh daily low at 1.3080 and remains near the lows as the US dollar retreats across the board. The loonie was boosted also by a recovery in crude oil prices. The barrel (WTI) is rising almost 1% as it trades above $44.50.
“There is not a whole lot going on USDCAD in the overnight session and we do not expect today be very active, if, much at all. The 1.31/32 region looks to be the near-term consolidation range established through last week, and despite a brief collapse to 1.3049 on Friday following the payrolls volatility, we think the range will hold”, said analysts from TD Securities.
The loonie is also rising on Monday against the Kiwi and the aussie, trimming last week losses.