The Canadian dollar has been attempting a recovery, taking advantage of the greenback’s weakness. The loonie’s advance saw USD/CAD drop below 1.33 to a trough of 1.3286. The price of oil giveth, and now the tankers taketh away. After a substantial rise during the week, crude is now falling off the highs. Markets were optimistic on the intentions of Saudi Arabia to curb production and like the drawdown in US inventories. However, every rally has a correction. The Canadian dollar is also on the back foot also due to dovish words by Bank of Canada Senior Deputy Governor Carolyn Wilkins. She sounded cautious on the economic recovery after trade tensions halted investments. The BOC seems to be in no rush to raise rates anytime soon. Dollar/CAD is back above 1.3300, and it is currently eyeing resistance at 1.3345 which capped it earlier in the day. Further resistance awaits at 1.33710 which held it down earlier in the week and then the high levels of 1.3420 and 1.3467, the latter seen last week. Support awaits at 1.3286, the daily low, followed by 1.3237. The next lines, 1.3163 and 1.3112, are from early in March. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex today: Dollar eases back, CAD/WTI slide and sterling rides Brexit deal optimism FX Street 4 years The Canadian dollar has been attempting a recovery, taking advantage of the greenback's weakness. The loonie's advance saw USD/CAD drop below 1.33 to a trough of 1.3286. The price of oil giveth, and now the tankers taketh away. After a substantial rise during the week, crude is now falling off the highs. Markets were optimistic on the intentions of Saudi Arabia to curb production and like the drawdown in US inventories. However, every rally has a correction. The Canadian dollar is also on the back foot also due to dovish words by Bank of Canada Senior Deputy Governor Carolyn Wilkins.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
