USDCAD

(Last Updated August 11, 2020)

Welcome to the news page for USDCAD (USDCAD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for USDCAD.

USDCAD Moving Averages

USDCAD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, aside from a spike about 6 months prior.

Below is a chart showing USDCAD’s price with its moving averages.

In terms of correlations over the past week for USDCAD, it has demonstrated the strongest correlation with EURCAD:CUR. Over the past 14 days, however, the asset showing the strongest correlation to USDCAD is CADJPY. Alternatively, the asset least correlated with USDCAD over the past week has been USDMXN, but over the past two weeks, NZDUSD has been the asset least correlated with USDCAD. The chart below illustrates USDCAD against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, USDCAD’s rate is down -0.0027 (-0.2%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as USDCAD has now gone down 5 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows USDCAD’s price action over the past year.