USD to CAD

Canada's economy appears over its recent blip although the BoC remains cautious and strategist opinions on the Loonie are mixed.

“We continue to look for a higher USD CAD into the close of the year, albeit  have moderated our year-end target back to 1.35.” - Jeremy Stretch at CIBC Markets.  

Despite seeing the CAD trading on the defensive in yesterday’s session the  failure of USD CAD to close above the 100-day MAV, (1.3087) is significant, at least in the short run.

The Canadian dollar has been under pressure against the US dollar since the 3rd of May. Of late the uptrend has slowed and appears in danger of stalling.

The US dollar continues to surge higher against the Canadian dollar and trades at 1.3117.

The USD/CAD has drifted lower of late, but these dips are likely to remain temporary in nature say CIBC.

The US dollar to Canadian dollar exchange rate is at 1.2917 at the time of writing, expect further gains says Jeremy Stetch at CIBC in London.

The USD/CAD is close to a key level and bulls are preparing for a last stand; BMO’s Andersen suggests they may actually win.

USD/CAD has started falling again after a brief respite.

We ask one of the leading Canadian dollar technical analysts where he sees the CAD going against the euro, US dollar and British pound.