USD/CAD tracks the USD recovery, regains 1.3300 post-data

  • USD/CAD rescued by the rebound in Treasury-yields driven broad USD comeback.
  • US CPI and Canadian housing data ignored ahead of US-China trade talks.

The bulls were rescued by the broad-based US dollar comeback, lifting the USD/CAD pair off the lows to now trade above the 1.33 handle amid mixed US and Canadian macro news.

US annualized Core CPI arrives at 2.4%, matches estimates

The spot is seen making recovery attempts, mainly driven the renewed strength around the Treasury yields across the curve that in turn collaborated to the bounce in the US dollar from weekly lows vs. its main competitors.

Fresh optimism appears to have sparked-in ahead of the US data, as the US-China trade talks get underway and market hopeful of some kind of agreement being reached today. Meanwhile, markets have shrugged off the mixed US CPI figures and upbeat Canadian New House Pricing Index, as the focus solely remains on the developments surrounding the trade talks for near-term trading impetus.

On the CAD-side of the equation, the latest uptick in oil prices seems to have little to no impact on the resource-linked Loonie. Oil prices caught a fresh bid-wave amid heightened Turkey-Syria tensions and trade hopes.

With the fresh leg higher, the buyers now aim to regain the 1.3350 barrier, however, the developments around the trade talks will likely determine the next price direction.

USD/CAD Technical levels to watch


Today last price 1.3318
Today Daily Change -0.0014
Today Daily Change % -0.11
Today daily open 1.3332
Daily SMA20 1.3274
Daily SMA50 1.3266
Daily SMA100 1.3247
Daily SMA200 1.3289
Previous Daily High 1.334
Previous Daily Low 1.3294
Previous Weekly High 1.3349
Previous Weekly Low 1.3205
Previous Monthly High 1.3384
Previous Monthly Low 1.3134
Daily Fibonacci 38.2% 1.3323
Daily Fibonacci 61.8% 1.3312
Daily Pivot Point S1 1.3304
Daily Pivot Point S2 1.3276
Daily Pivot Point S3 1.3258
Daily Pivot Point R1 1.335
Daily Pivot Point R2 1.3368
Daily Pivot Point R3 1.3396



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD consolidating as markets digest the new US-Sino trade truce

EUR/UDS is trading around 1.1030, little changed. Markets are digesting the US-Sino handshake deal that prevents new US tariffs that were planned for Tuesday. Euro-zone industrial output is due out.


GBP/USD slips below 1.26 as Brexit talks drag

GBP/USD has kicked off the new week with a drop below 1.26 as Brexit optimism fades. Intense weekend talks have failed to result in an accord. Negotiations continue ahead of the EU Summit. 


USD/JPY retreats from 2-1/2 month tops, still comfortable above 108.00 handle

A partial US-China trade deal on Friday weighed on the JPY’s safe-haven status. Traders now seemed inclined to book profit despite a pickup in the USD demand.


Gold climbs to session tops, inching closer to $1500 mark

Gold edged higher through the early European session and is currently placed at the top end of its daily trading range, around the $1495 region.

Gold News

Forex Today: Markets skeptical about US-Sino trade truce and sterling suffers a hangover as talks continue

Markets are cautious regarding the US-Sino partial trade deal. The world's largest economy agreed on a "hand-shake" agreement which is yet to be written. It includes a Chinese commitment to buy agrifoods.

Read more