USD/CAD rising back into 1.3650 as risk-off markets pick up the Greenback

Risk aversion kicks off the new trading year as economic fears resume.
The post-holiday markets, surprised by negative China data, are in retreat mode to open January's trading.

Joshua Gibson FXStreet

USD/CAD greets the new trading year for 2019 with a fresh round of risk-off trading, sending investors back-pedaling into the US Dollar and sending the Dollar-Loonie pairing back into recent highs as the same problems that plagued markets into the bitter end of 2018 have followed through into 2019.

Crude markets remain fully deflated, and the Loonie finds itself without a solid floor to stand on as the CAD struggles to maintain balance against the steady-marching Greenback. Energies markets have been beaten into submission on crude barrel prices, and American oil barrels via WTI are still trading into the rock-bottom price of 45.00/barrel.

US economic data is thin for Wednesday, but broad-market sentiment is seeing pickup in the USD almost entirely across the board, and USD/CAD is pinned into near-term highs as buyers look for a break into 1.3680.

USD/CAD Technical Levels

USD/CAD

Overview:
    Today Last Price: 1.3652
    Today Daily change: 12 pips
    Today Daily change %: 0.0880%
    Today Daily Open: 1.364
Trends:
    Previous Daily SMA20: 1.3513
    Previous Daily SMA50: 1.3317
    Previous Daily SMA100: 1.3166
    Previous Daily SMA200: 1.3067
Levels:
    Previous Daily High: 1.3658
    Previous Daily Low: 1.3422
    Previous Weekly High: 1.4134
    Previous Weekly Low: 1.3564
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Previous Daily Fibonacci 38.2%: 1.3512
    Previous Daily Fibonacci 61.8%: 1.3568
    Previous Daily Pivot Point S1: 1.3489
    Previous Daily Pivot Point S2: 1.3337
    Previous Daily Pivot Point S3: 1.3252
    Previous Daily Pivot Point R1: 1.3725
    Previous Daily Pivot Point R2: 1.381
    Previous Daily Pivot Point R3: 1.3962

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD: US Dollar comeback in the makes?

The US Dollar stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week. The pair edged higher on Friday, after the United States Supreme Court ruled against President Donald Trump's tariffs, although the advance is not enough to change the latest USD flow.

GBP/USD braces for more pain, as 200-day SMA tested

GBP/USD broke the previous week’s consolidation to the downside, as sellers returned with pomp, smashing the major back toward the levels last seen in late January. The pair tested bids below the 1.3450 barrier as the US Dollar strength largely played out throughout the week, while the Pound Sterling stepped back on expectations of divergent monetary policy outlooks between the Bank of England and the US Federal Reserve.

Gold rises to near $5,100 as Trump’s tariffs boost haven demand, US-Iran talks eyed

Gold price edges higher to near $5,095 during the early Asian session on Monday. The precious metal extends the rally amid US President Donald Trump’s tariff threats and uncertainty, boosting safe-haven flows.

Week ahead: Markets brace for heightened volatility as event risk dominates

Dollar strength dominates markets as risk appetite remains subdued. A Supreme Court ruling, geopolitics and Fed developments are in focus. Pivotal Nvidia earnings on Wednesday as investors question tech sector weakness. Yen and aussie diverge; both pound and euro could recoup their losses.

Broadening drivers of growth: Unpacking GDP and looking ahead

This week’s data delivered a familiar theme with an important twist. The U.S. economy continues to be shaped by powerful forces in high-tech and AI-related investment, but recent releases suggest the growth story may finally be broadening. At the same time, trade flows are moving in a less supportive direction, reminding us that not all parts of the economy are pulling in sync.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.