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USD/CAD Forecast: Oil Price Surge Boosts Canadian Dollar. Oil briefly hit a two-month high, which helped the Canadian dollar rally. Canada’s manufacturing sector remained in contraction in June. The US dollar eased after... Analysis • By Talkmarkets • 4 minutes ago
Oil price charts for Brent Crude, WTI & oil futures. Energy news covering oil, petroleum, natural gas and investment advice.
- Canadian Dollar Outlook
- Oil Fueling Loonie Gains
- CAD/JPY Rate Technical Analysis: Daily Chart
- USD/CAD Rate Technical Analysis: Daily Chart
- IG Client Sentiment Index: USD/CAD Rate Forecast
The ongoing rebound in crude oil priceshas given a lift to the Loonie.CAD/JPY rates have recently traded above their daily 21-EMA, while USD/CADrates have yet to fall below their one-month moving average.According to the IG Client Sentiment Index, USD/CADrates now have a bearish bias in the near-term.Strength in energy markets is helping propel the Canadian Dollar higher at the end of the year. Energy, which accounts for approximately 11% of Canadian GDP, has a considerable sway over the Loonie, so it’s no surprise that the sharp rebound by crude oil prices over the past week have filtered into rallies by the major CAD-crosses. And with risk ap...
CAD/JPY rates have continued their rally from the 61.8% Fibonacci retracement of the August low/October range at 87.86, finally achieving a move higher through the daily 21-EMA – the one-month moving average – by the end of last week. Of equal consequence, the pair was also able to climb above the descending trendline from the October and November ...
In the prior update it was noted that “if crude oil pricesare able to clear 73.34, however, then it would be a favorable sign that the Loonie rally could have some room to run yet.” Crude oil prices have hurdled 73.34, suggesting that more USD/CAD weakness could be on the way. Unlike CAD/JPY rates, however, USD/CAD rates have yet to emerge on the o...
USD/CAD: Retail trader data shows 56.50% of traders are net-long with the ratio of traders long to short at 1.30 to 1. The number of traders net-long is 2.80% lower than yesterday and 39.70% higher from last week, while the number of traders net-short is 3.39% lower than yesterday and 44.63% lower from last week. We typically take a contrarian view...
- Christopher Vecchio
- Former Senior Strategist
The oil price charts offer live data and comprehensive price action on WTI Crude and Brent Crude patterns. Get information on key pivot points, support and resistance and crude oil news...
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Mountain-Chart. Oil (WTI) News. Oil Price 21h. Brent Crude Hits $87.50 Amid Hurricane Beryl, But Gains May Be Short-Lived. Zacks 2d. Global Oil Firms Bet Big on Namibia Discovery Amid...
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