Thursday , 14 November 2024
Home Forex Canadian dollar falls to the lowest since 2020
Forex

Canadian dollar falls to the lowest since 2020

A broader wave of US dollar buying combined with slumping oil prices and worries about Chinese growth have nudged USD/CAD above the 2022 high of 1.3978.

USD/CAD has tried to get through this level many times in the past two years but hasn’t been able to crack it. So far there hasn’t been any follow through and I suspect it will be tough to break 1.4000 — though with momentum kicking in above.

Last week I was on BNNBloomberg, making the case against the Canadian dollar.

This article was written by Adam Button at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Fed’s Kugler: If disinflation progress stalls, it could call for a pause to rate cuts

Must be mindful of both sides of the mandate right nowIf labour...

NZDUSD Technical Analysis – We are testing a key support zone

Fundamental OverviewThe US CPI yesterday came in line with expectations leading to...

Pound Sterling refreshes four-month low ahead of Powell-Bailey’s speeches

The Pound Sterling (GBP) refreshes over a four-month low below the round...

India Trade Deficit Government: $27.14B (October) vs $20.78B

India Trade Deficit Government: $27.14B (October) vs $20.78B