Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains

• USD/CAD dipped on Thursday  as the dollar softened following weaker-than-expected U.S. inflation data.

• U.S. consumer prices increased less than anticipated in the year to November, slightly boosting expectations for a January Federal Reserve rate cut, although the data was affected by the prolonged government shutdown.

• The Labor Department's Bureau of Labor Statistics reported on Thursday that the Consumer Price Index increased 2.7% year-on-year in November, below economists’ forecast of a 3.1% rise.

• The Federal Reserve tracks the Personal Consumption Expenditures Price Index for its 2% inflation target.

• Looking ahead, Statistics Canada is set to release the official retail sales data for October 2025 tomorrow, Friday.

•  Immediate resistance is located at 1.3821(38.2%fb), any close above will push the pair towards 1.3902(61.8%fb).

• Support is seen at 1.3723(23.6%fb) and break below could take the pair towards 1.3666(Lower BB).

Recommendation: Good to sell  around 1.3780, with stop loss of 1.3850  and target price of 1.3700

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.