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U.S. Dollar/Canadian Dollar (^USDCAD)

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U.S. Dollar/Canadian Dollar Futures Market News and Commentary

Dollar Moves Higher as T-Note Yields Jump and Stocks Falter

The dollar index (DXY00) today rebounded from a 1-1/2 week low and is slightly higher.  The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent inflation and labor market strength, hawkish factors for Fed policy.  Also, today’s slump in stocks has boosted liquidity demand for the dollar.

US weekly initial unemployment claims unexpectedly fell -5,000 to a 2-month low of 207,000, showing a stronger labor market than expectations of an increase to 215,000.

US Q1 GDP was revised downward to 1.6% (q/q annualized) from 3.4%, weaker than expectations of 2.5%, as Q1 personal consumption was revised lower to 2.5% from 3.3%, weaker than expectations of 3.0%.  The Q1 core PCE price index was revised upward to +3.7% from +2.0%, stronger than expectations of +3.4%.

US Mar pending home sales rose +3.4% m/n, stronger than expectations of +0.4% m/m.

The markets are discounting the chances for a -25 bp rate cut at 3% for... Read more

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
75,262 (+5,658)
166,834 (+38,890)
Non-Commercials - Long / Short
119,882 (+31,756)
37,067 (+2,326)
Dealers / Intermediary - Long / Short
2,437 (-992)
117,923 (+33,276)
Asset / Manager - Long / Short
120,629 (+26,133)
43,705 (-1,120)
Leveraged Funds - Long / Short
65,246 (+13,880)
20,106 (+3,793)
Other Reportables - Long / Short
431 (-1,221)
15,766 (+5,653)

Price Performance

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Period Period Low Period High Performance
1-Month
1.34782 +1.68%
on 04/04/24
1.38459 -1.02%
on 04/16/24
+0.01184 (+0.87%)
since 03/25/24
3-Month
1.33588 +2.59%
on 01/31/24
1.38459 -1.02%
on 04/16/24
+0.02293 (+1.70%)
since 01/25/24
52-Week
1.30928 +4.67%
on 07/14/23
1.38990 -1.40%
on 11/01/23
+0.00773 (+0.57%)
since 04/25/23

Most Recent Stories

More News
Elliott Wave Intraday Analysis on GBPUSD Shows 5 Waves Bullish Impulse

Elliott Wave view on (GBPUSD) suggests that rally from 10.4.2023 low takes the form of an impulsive structure. Up from 10.4.2023 low, wave (1) ended at 1.2828. Correction in wave (2) unfolded as an expanded...

^GBPUSD : 1.24891 (+0.20%)
AUDNZD Pair Is Approaching Resistance, While Finishing A Correction

AUDNZD Pair Is Approaching Resistance, While Finishing A Correction from technical perspective and by Elliott wave theory.

Gold Price Slides Even Without Dollar’s Help!

Gold slides once again today, proving that yesterday’s $67 slide was not accidental.

USDCHF Remains In Uptrend After Fourth Wave Pullback

USDCHF is in impulsive recovery which can extend further.

Forecast with Elliott Wave Technique Calling EURUSD to Extend Lower

Short term Elliott Wave view in (EURUSD) suggests that cycle from 12.28.2023 high is in progress as a zigzag Elliott Wave structure. Down from 12.28.2023 high, wave A ended at 1.0694 and rally in wave...

^EURUSD : 1.07130 (+0.13%)
Elliott Wave Theory Suggests EURJPY Remains Bullish

Short term Elliott Wave view in (EURJPY) suggests that rally to 165.35 ended wave 3. Wave 4 pullback unfolded as a double three Elliott Wave structure. Down from wave 3, wave ((w)) ended at 162.59 and...

^EURJPY : 166.599 (+0.24%)
EURJPY Found Buyers After 3 Waves Pull Back

Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of (EURJPY) , published in members area of the website. As many of you already know, we've...

^EURJPY : 166.599 (+0.24%)
Aussie Breaking Out Of A Triangle, Searching For Support

The Aussie broke to the downside this week, falling below the triangle support line which later turned into resistance near 0.65. Now searching for support.

CADJPY Elliott Wave : Forecasting the Rally After 3 Waves Pull Back

In this technical blog we’re going to take a quick look at the Elliott Wave charts of (CADJPY) , published in members area of the website. As our members know we are favoring the long side in YEN pairs. ...

^CADJPY : 113.491 (+0.11%)
AUDJPY Elliott Wave: Forecasting the Path

Hello fellow traders.  In this technical blog we’re going to take a quick look at the Elliott Wave charts of (AUDJPY) Forex pair, published in members area of the website. As our members know we have...

^AUDJPY : 101.106 (+0.17%)

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 88% Buy with a Strengthening short term outlook on maintaining the current direction.

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Key Turning Points

3rd Resistance Point 1.38099
2nd Resistance Point 1.37692
1st Resistance Point 1.37363
Last Price 1.37005
1st Support Level 1.36627
2nd Support Level 1.36220
3rd Support Level 1.35891

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52-Week High 1.38990
Last Price 1.37005
Fibonacci 61.8% 1.35910
Fibonacci 50% 1.34959
Fibonacci 38.2% 1.34008
52-Week Low 1.30928

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