Published, Thursday, Sept 23, 2021 05:30 am EST
by Richard Cason,
@newsmmforex
@nnmforex
in
Currency Analyst
NewsMovesMarketsForex
The USDCAD appears to still be under some pressure after the Federal Reserve FOMC Open Market Committee meetings on yesterday decided to hold interest rates unchanged at 0.25 percent.
The early Asian trading session the Dollar Currency Index has been ranging in negative territory trading at 93.13 as of this writing and is down .37% on the day.
The Usd Cad set a high last nights session at 1.2793 before retracing to a low of 1.2648 earlier this morning.
The Usd Cad was trading this morning at 1.2632E as of 09:45 am est and Cad is gaining significant strength against its rival the U.S. dollar. The Cad is stronger the dollar is weaker at present.
USDCAD descends from Daily highs level of 1.2793 to low of 1.2634
Robust Economic Canadian news created positive head winds from CAD this morning strong Core Retail Sales fueled the CAD rally, an a heavy dose of U.S. Economic news came in lackluster triggering a USD selloff.
The Dollar index falling as low as 93.03 down .47 percent as of the opening bell of the New York Stock Exchange treading water in this morning trading session.
The Pair traded well below the 14 day Single Moving Average an seems to be headed south to temporary support of the 1.2602 territory..
Eurodollar Futures APR 2021 up 1.1756-.0.39%as of 10:11 a.m. this morning eastern standard time
- U.S. dollar index is trading is at 93.08 down -.45%as of 10:11 a.m. this morning eastern standard time
- The US 10-year treasury yield trading at 1.3580 up 1.6467%. Yield Low Today 1.309% Yield High 1.331%
On the Commodities front Gold is trading at 1757.20 down -.93%at 10:32 a.m. est.
- Silver is trading at 22.68 down .97% at 10:21 a.m. est.
- Crude Oil (WTI) is trading at 70.51 up +.22%at 10:22 am est.
**Technical Analysis Outlook USDCAD: “Bearish” | 174 Points Trading Range 09/23/2021 High 1.12793 Low 1.126321
RISK WARNING: This content is for informational purposes only. The author’s opinion is their own and at any time should not be misinterpreted as investment advice. The information and content is subject to change at any time. Updates to the content can be change at any time. Please be aware that there is a high level of risk involved with trading leveraged products such as forex and cryptocurrencies. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved still seem unclear to you, please seek independent advice.
