EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Forex News

USD/CAD Recovers few Pips From Daily Low

Admin by Admin
October 14, 2022
in Forex News
0
USD/CAD
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
MMC MMC

THE USD/CAD pair finds some support near the 1.3700 mark on Friday and stalls the overnight retracement slide from the 1.3975-1.3980 region, or the highest level since May 2020. The pair climbs back closer to the daily peak and trades around mid-1.3700s during the early European session.

The US dollar attracts some dip-buying on the last day of the week, which turns out to be a key factor offering support to the USD/CAD pair.

A dramatic turnaround in the global risk sentiment might keep a lid on any meaningful gains for the safe-haven buck and the USD/CAD pair. At least for the time being. Meanwhile, the downside seems cushioned amid subdued action around crude oil prices, which could undermine the commodity-linked loonie. Nevertheless, the fundamental backdrop still seems tilted firmly in favour of bullish traders.

Investors remain concerned about the potential economic fallout from rapidly rising borrowing costs, geopolitical risks and a resurgence of COVID-19 cases in China. This should continue to benefit the greenback’s safe-haven status. Furthermore, worries that a deeper global economic downturn and fresh COVID-related lockdowns in China will dent fuel demand, which, in turn, could weigh on crude oil prices.

The aforementioned factors suggest that the path of least resistance for the USD/CAD pair is to the upside. A convincing break below the 1.3700 round figure might negate the positive outlook and prompt aggressive technical selling.

Market participants now look forward to the US economic docket,  featuring the release of monthly Retail Sales figures, the Prelim Michigan Consumer Sentiment and Inflation Expectations Index. This, along with the US bond yields and speeches by influential FOMC members, will drive the USD demand. Apart from this, oil price dynamics could produce short-term trading opportunities around the USD/CAD pair.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: ForexForex tradingUSD/CAD
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

October Becomes Worst Month for Crypto Hacks

Next Post

Liverpool FC Partners Meta To Launch Virtual Merchandise

Admin

Admin

Next Post
liverpool FC partners meta to launch virtual merchandise

Liverpool FC Partners Meta To Launch Virtual Merchandise

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>