The Canadian Dollar (CAD) slipped a little overnight after a brief investigation at SUB-1.38 levels yesterday. President Trump has commented that PM Carney will visit Washington shortly and expect a 'great relationship' to Canada, head of strategic FX strategist Shaun Osborne.
CAD remains better supported generally
“That was a bit different from some of the other President's other comments recently in Canada and the comments helped the USDCAD nudge a little less and boost the CAD performance. Moderate losses to this day reflect the general strength in the USD than any CAD-negative development and the CAD is the only G10 currency that has the USD money on the week.”
“The CAD forms some soil on the crosses as a result. The spot is combined -together after sinking shortly under 1.38 yesterday to try congestion support at 1.3775. Marginal new cycles will keep the grinding tone of USD weakness and DMI oscillator dedicated to the bearishly for USD.”
“But the CAD's failure to hold the USD's acquisitions today and a narrow, within the scope session (at the moment) pointed to the integration -with the short run. The USD acquisitions can be expanded to mid/top 1.38s in short running. The resistance is 1.3880 and 1.4000/25.”
