The Canadian dollar continues taking advantage of the US dollar’s weakness.Without any news related to Canada, the C$ advances to the highest level since mid January. USD/CAD dipped below 1.09 and reached a low of 1.0892 before rising back above the round number. This comes ahead of the FOMC meeting minutes, which could be decisive for the next move. Update: FOMC Meeting Minutes give USD another blow on calm message Here is the daily chart, showing the recent levels of USD/CAD: Yesterday, the loonie ignored weak Canadian housing figures and focused on the sell off of the greenback. In addition, the Canadian dollar still enjoys the excellent jobs report in Canada. Canada’s job growth in March was more convincing than the US job growth, which was only OK. One of the factors strengthening the dollar during March was the hawkish comment by Fed Chair Janet Yellen regarding a potential rate hike. We will now see if the Fed is truly hawkish or if it is cautious as it usually is. A cautious Fed could extend the fall of USD/CAD towards 1.0850 and 1.0780. A hawkish Fed could reverse the move and send the pair towards 1.10, which is a clear separator of ranges. For more levels, analysis and events, see the Canadian loonie forecast. 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 FOMC Meeting Minutes On Tap – Focus Shifts to Interest Scott Smith 8 years The Canadian dollar continues taking advantage of the US dollar's weakness.Without any news related to Canada, the C$ advances to the highest level since mid January. USD/CAD dipped below 1.09 and reached a low of 1.0892 before rising back above the round number. This comes ahead of the FOMC meeting minutes, which could be decisive for the next move. Update: FOMC Meeting Minutes give USD another blow on calm message Here is the daily chart, showing the recent levels of USD/CAD: Yesterday, the loonie ignored weak Canadian housing figures and focused on the sell off of the greenback. In addition,… 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.
