Canadian dollar loses more ground: CAD/USD below 90 cents

The Canadian dollar is being carried away by the recent dollar storm, joining its peer commodity currency peers and is losing ground against the greenback, despite the fact that a strong US economy is good for the Canadian one, that Canadian inflation is on the rise and that the Bank of Canada has finally acknowledged this. The weakness in oil prices is a factor that plays against the C$.

CAD/USD is now below 0.90, as USD/CAD tops 1.1111.

For Dollar/CAD, the next big level is 1.1224, which is the cycle multi-year high. Big support is of course at the 1.10 level. For more, see the Canadian dollar prediction.

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

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