12 Jan 2015
USD/CAD up, up and up scoring fresh yearly highs
FXStreet (Guatemala) - USD/CAD is currently trading at 1.1946 with a high of 1.1957 and a low of 1.1834 and up 0.69 % on the day.
USD/CAD continues to print higher highs with the pair now at its highest highs since scoring 1.1954 in January 2009 and there is little sign of a reversal, fundamentally or technically. The greenback is seasonally trading in suit with the theme of strength, while traders line up for a push into the 1.2000 region.
Fundamentally, falling oil prices are weighing on the commodity currency although US yields of late have been curbing the greenbacks advance. A return to a more positive curve and widening in the spread may be the next catalyst for a further surge before a proper phase of consolidation perhaps, in the 1.20's. There is plenty of data on the cards this week also to take note of but while in a broader sense, the divergence between the two Central Banks sees a more patient BoC while markets are continuing to price in a rate rise from the Fed this year.
USD/CAD continues to print higher highs with the pair now at its highest highs since scoring 1.1954 in January 2009 and there is little sign of a reversal, fundamentally or technically. The greenback is seasonally trading in suit with the theme of strength, while traders line up for a push into the 1.2000 region.
Fundamentally, falling oil prices are weighing on the commodity currency although US yields of late have been curbing the greenbacks advance. A return to a more positive curve and widening in the spread may be the next catalyst for a further surge before a proper phase of consolidation perhaps, in the 1.20's. There is plenty of data on the cards this week also to take note of but while in a broader sense, the divergence between the two Central Banks sees a more patient BoC while markets are continuing to price in a rate rise from the Fed this year.