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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 Slides as Chinese Stimulus Boosts the Yuan

The dollar index (DXY00) Thursday fell by -0.41%.  The dollar was under pressure after the Chinese yuan rose to a 16-month high against the dollar after the government boosted stimulus measures. Also, Thursday’s rally in stocks curbed liquidity demand for the dollar.  Losses in the dollar were limited due to Thursday's stronger-than-expected US weekly jobless claims and Q2 GDP reports, hawkish factors for Fed policy that pushed T-note yields higher.

US weekly initial unemployment claims unexpectedly fell -4,000 to a 4-month low of 218,000, showing a stronger labor market than expectations of an increase to 223,000.

US Q2 GDP was left unrevised at +3.0% (q/q annualized), stronger than expectations of a downward revision to +2.9%.

US Aug capital goods new orders nondefense ex-aircraft and parts rose +0.1% m/m, right on expectations.

US Aug pending home sales rose +0.6% m/m, weaker than expectations of +1.0% m/m.

The markets are discounting the chances at... Read more

Commitment of Traders Positions as of Sep 17, 2024

View Chart Details
Commercials - Long / Short
129,777 (+19,881)
197,838 (+21,024)
Non-Commercials - Long / Short
94,614 (+1,888)
21,464 (-2,309)
Dealers / Intermediary - Long / Short
22,069 (-2,751)
136,314 (+5,544)
Asset / Manager - Long / Short
110,978 (+1,527)
33,209 (-2,741)
Leveraged Funds - Long / Short
61,437 (+4,249)
9,819 (-2,547)
Other Reportables - Long / Short
3,221 (+123)
13,274 (-162)

Price Performance

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Period Period Low Period High Performance
1-Month
1.34198 +0.36%
on 09/25/24
1.36474 -1.32%
on 09/19/24
+0.00238 (+0.18%)
since 08/27/24
3-Month
1.34198 +0.36%
on 09/25/24
1.39462 -3.43%
on 08/05/24
-0.02334 (-1.70%)
since 06/27/24
52-Week
1.31775 +2.20%
on 12/27/23
1.39462 -3.43%
on 08/05/24
-0.00326 (-0.24%)
since 09/27/23

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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 72% Sell with a Average short term outlook on maintaining the current direction.

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Key Turning Points

3rd Resistance Point 1.35189
2nd Resistance Point 1.35055
1st Resistance Point 1.34851
Last Price 1.34675
1st Support Level 1.34513
2nd Support Level 1.34379
3rd Support Level 1.34175

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52-Week High 1.39462
Fibonacci 61.8% 1.36526
Fibonacci 50% 1.35618
Fibonacci 38.2% 1.34711
Last Price 1.34675
52-Week Low 1.31775

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