|Day's range||1.355 - 1.36|
|52-week range||1.2919 - 1.4667|
It’s a quiet day on the economic calendar. FED Chair Powell and BoE Governor Bailey are scheduled to speak. Expect Trump and COVID-19 to also influence.
USD/CAD made an attempt to get above the 20 EMA but failed to develop additional upside momentum.
USD/CAD failed to settle below the support at 1.3500 and rebounded closer to the resistance at the 20 EMA at 1.3590.
It’s a relatively quiet day on the economic calendar. Expect the weekly jobless claims from the U.S, Brexit, and COVID-19 to draw attention.
USD/CAD failed to settle above the 20 EMA and moved back into the previous trading range.
A lack of economic data will leave the markets in the hands of COVID-19 updates and any chatter from China or the U.S…
USD/CAD tried to breach the resistance at the 20 EMA but did not get enough support.
Risk appetite continues to support the majors. With the markets not expecting any shift from the RBA, geopolitics and COVID-19 remain curveballs.
USD/CAD continues to trade in the range between the support level at 1.3500 and the resistance level at the 20 EMA at 1.3595.
USD/CAD is little changed and continues to trade below the 20 EMA at 1.3610.
USD/CAD failed to get momentum and stays close to the 20 EMA at 1.3615.
Progress towards a COVID-19 vaccine and positive EU and U.S stats provided support early on. U.S Nonfarm payrolls and jobless claims are in focus later.
It’s a busy day ahead, with economic data, talk of stimulus, geopolitics, and COVID-19 updates to provide the majors with direction.
The breakouts did happen and, in both cases, were to the downside, which is rather negative information for stock traders.
There are two levels in focus on Friday. The first is last week’s close at 97.580. The second important level to watch is 97.700.
The dollar has come back into favor in early European trade Thursday, with concerns about the mounting coronavirus cases and the impact on the economic recovery prompting a return to the safe haven. Initial jobless claims for the week ending June 21 are expected to be 1.3 million, while continuing jobless claims are expected to fall to 19.9 million.
Markets could be in for another choppy day ahead. Expect any talk of reintroducing any lockdown measures to weigh heavily on risk appetite.
With economic data limited to business sentiment figures from Germany, expect geopolitics and COVID-19 to also be a factor on the day.