TRENDING:

Oil price

XAU/USD

USD/CAD rebounds further from monthly lows to the 1.2350 zone

US dollar strengthens versus commodity currencies as stocks and crude oil slide.
USD/CAD extends gains during the American session, upside still seen as corrective.

Matías Salord FXStreet

The USD/CAD is rising on Thursday after posting on Wednesday the lowest daily close since early July. The pair bottomed at 1.2288 on Asian hours and then bounced to the upside. During the American session it printed a fresh daily high at 1.2353 and then pulled back to 1.2345.

The main trend in USD/CAD continues to point to the downside and the current move higher could be seen as corrective. The pair needs a daily close under 1.2300 to suggest bears are still in control.

The US dollar is holding onto daily gains across the board, except versus the Japanese yen. The DXY is up by 0.03%, ending a six-day negative streak. Higher US yields and a deterioration in market sentiment helped the greenback. The USD/CAD also finds support from a correction in crude oil prices. The WTI barrel is pulling back from multi-year highs, and trades under $81.00.

US economic data showed a decline in Initial Jobless Claims to the lowest since March 2020 below 300K. On the negative front, the Philly Fed retreated from 30.7 to 23.8 (consensus: 25). Existing Home Sales rebounded more than expected by 7% in September. Home prices rose 0.4% in September in Canada.

On Friday, preliminary Markit PMI is due in the US and in Canada the August retail sales report with preliminary numbers for September.

Technical levels

USD/CAD

Overview

Today last price1.234

Today Daily Change0.0020

Today Daily Change %0.16

Today daily open1.232

Trends

Daily SMA201.2534

Daily SMA501.2607

Daily SMA1001.2509

Daily SMA2001.2501

Levels

Previous Daily High1.237

Previous Daily Low1.2307

Previous Weekly High1.2498

Previous Weekly Low1.2337

Previous Monthly High1.2896

Previous Monthly Low1.2494

Daily Fibonacci 38.2%1.2331

Daily Fibonacci 61.8%1.2346

Daily Pivot Point S11.2295

Daily Pivot Point S21.227

Daily Pivot Point S31.2233

Daily Pivot Point R11.2357

Daily Pivot Point R21.2395

Daily Pivot Point R31.242

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

GBP/USD stays below 1.3400 after soft UK CPI data

GBP/USD struggles to gain traction and stays below 1.3400 in the second half of the day on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, making it difficult for the British Pound gather recovery momentum. Meanwhile, investors keep a close eye on headlines coming out of the Middle East.

EUR/USD stabilizes near 1.1400 as markets focus on geopolitics

EUR/USD trades in a narrow channel at around 1.1400 on Wednesday. In the absence of high-impact data releases, escalating geopolitical tensions in the Middle East caps the pair's upside. On Thursday, the European Central Bank (ECB) will announce monetary policy decisions.

Gold holds gains above $4,100 undaunted by risk-off markets

Gold extends gains for the fourth consecutive day, standing comfortably above $4,100, unfazed by the risk-off market amid rising tensions in Iran and higher Oil prices. The pair has rallied nearly 2.5% so far this week and is on track for its best weekly performance in more than three months.

Cardano: Short-term recovery lacks retail support

Cardano price edges lower after the 50-day Exponential Moving Average at $1.770 capped two consecutive days of recovery seen earlier this week. ADA futures point to waning retail traction as Open Interest and trading volume decline amid elevated long liquidations. The technical outlook for ADA is bearish, as momentum remains subdued below a resistance trendline near $0.1782.

Chip stocks are more volatile than Oil

I continue to start the day by looking at these two charts: US crude & Kospi. The former is extending gains, trading above $86 per barrel for WTI and $92 per barrel for Brent, while the Kospi is up more than 4.5%, led higher by Korean chipmakers following a similar jump in VanEck's Semiconductor ETF yesterday.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.