25.06.2020 USD/CAD Daily Analysis
The USD/CAD pair broke out of its Asian session consolidation phase and climbed to 1-1/2-week tops, just above mid-1.3600s in the last hour. The uptick was
Yayınlanma: 26 Haziran 2020 13:52
Güncellenme: 20 Kasım 2024 14:24
25.06.2020 USD/CAD Daily Analysis
The USD/CAD pair broke out of its Asian session consolidation phase and climbed to 1-1/2-week tops, just above mid-1.3600s in the last hour. The uptick was supported by a combination of factors, including some follow-through the US dollar strength and a weaker tone surrounding crude oil prices.Investors remain concerned about the ever-increasing number of new coronavirus cases globally and the possibility of renewed lockdowns to control the spread. The US economic docket highlights the release of Initial Weekly Jobless Claims and Durable Goods Orders. A combination of factors assisted USD/CAD to gain traction for the third consecutive session. Fresh coronavirus jitters weighed on investors’ sentiment and benefitted the safe-haven USD.
