- The dollar remains weak, unable to regain solid ground.
- USD / CAD is heading for the lowest daily close in nearly three years.
He USD / CAD is trading at 1.2615, after having fallen to 1.2588, the lowest intraday level since April 2018. The rebound was driven by a modest rebound in the dollar, which is rapidly running out of steam again.
Dollar weakness continues to be a key driver for USD / CAD decline. The pair is testing the 1.2600 area, and a confirmation below could enable a bearish extension. Below the next strong support can be found at 1.2555.
He Dollar index (DXY) it does not manage to regain ground firmly. The US data (Philly Fed, unemployment benefits and housing start-ups) were mostly better than expected, but failed to reverse the negative moment of the greenback.
A rebound in yields Treasury bond it helps to limit the decline of the dollar. The 10-year rate is 1.11%. On Wall Street, the Dow Jones is marginally up 0.05% and the S&P 500 0.12%.
Technical levels
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