USD/CAD toying with highs near 1.3200

Pablo Piovano FXStreet

The greenback remains on a firm fashion vs. its rivals this week, now lifting USD/CAD to test daily tops in the boundaries of 1.3200 the figure.

USD/CAD focus on oil, data, BoC

Spot is reverting two consecutive sessions with losses today, on its way to re-test the key 200-day sma today at 1.3214 and opening the door for potential visits to recent highs further north of the 1.3200 handle.

CAD has been so far unable to benefit from the better tone in crude oil prices, with the barrel of West Texas Intermediate flirting with the psychological mark at $50.00 following significant draws in inventories as reported by the API and EIA.

Later in the session US Initial Claims and Building Permits in Canada are only expected, ahead of the speech by Senior Deputy Governor C.Wilkins, the BoC’s Business Outlook Survey and key labour market figures in Canada and the US, all due tomorrow.

USD/CAD significant levels

As of writing the pair is up 0.17% at 1.3201 facing the next resistance at 1.3276 (high Sep.27) ahead of 1.3311 (38.2% Fibo of the 2016 drop) and finally 1.3575 (50% Fibo of the 2016 drop). On the other hand, a breach of 1.3149 (20-day sma) would open the door to 1.2996 (low Sep.22) and then 1.2818 (low Sep.7).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.