By Andria Pichidi - August 21, 2019
USD-CAD fell to 1.3250 from near 1.3300, matching Monday's low, following the warmer Canada CPI figures. The pairing had been on the decline from the 1.3315 level seen in London morning trade, taking its cue from WTI crude, which rallied to seven-session highs of $56.94 from post-close lows of $55.91. Between firm oil and risk-on conditions, USD-CAD should remain under pressure for the time being. Support is at the 20-day moving average of 1.3236 now.
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USD-CAD fell to 1.3250 from near 1.3300, matching Monday's low, following the warmer Canada CPI figures. The pairing had been on the decline from the 1.3315 level seen in London morning trade, taking its cue from WTI crude, which rallied to seven-session highs of $56.94 from post-close lows of $55.91. Between firm oil and risk-on conditions, USD-CAD should remain under pressure for the time being. Support is at the 20-day moving average of 1.3236 now.
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.