USD/CAD eyes the first weekly gain in five on upbeat options market signals

Anil Panchal FXStreet

USD/CAD remains indecisive on a day while taking rounds to 1.3460-50 during early Friday. Even so, the Loonie pair braces for the first weekly gain in five amid upbeat signals from the options market.

That said, a one-month risk reversal (RR) of the USD/CAD pair, a ratio of call options versus put options, also known as the bullish bets and the bearish bets in that order, printed the first positive figures in three days at the latest, to +0.075 by the end of Thursday’s North American session.

It’s worth noting that the weekly RR reverses the previous negative figure of -0.323 with +0.100 by the press time.

It should be noted that the firmer prices of Oil, Canada’s key export, contrasts with the US Dollar’s inability to cheer the hawkish Federal Reserve (Fed) comments to restrict immediate USD/CAD moves.

Also read: USD/CAD looks to regain 1.3500 despite firmer Oil price, Canada Retail Sales, Fed talks eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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