Elliott Wave analysis of USD/CAD signals a potential trend reversal after completing a corrective A-B-C zigzag. If wave C is done, a new upward impulse may begin, possibly pushing prices beyond the 1.3975 high. Combined with macro factors like interest rate spreads, this sets the stage for a bullish outlook in North America’s key FX pair. Full update by EWM Interactive.
USD/CAD remains range-bound above 1.36, facing resistance near 1.38–1.39 with key support at 1.36 and 1.34 levels. Weekly indicators signal waning bullish momentum, suggesting cautious trading as the pair awaits a decisive breakout or breakdown. Technical and macro factors will guide next moves. Analysis by ActionForex.com.
USD/CAD remains range-bound, closing near 1.3667 as consolidation continues. Key resistance at 1.3784–1.3898 and support at 1.3565–1.3400 are critical to watch. Momentum is neutral to slightly bearish, with a breakout likely once market direction clarifies.
The Canadian dollar continues to weaken as bond yields fall, reflecting reduced rate hike expectations and softer economic data. Falling oil prices and cooling growth weigh on the loonie, while the Bank of Canada’s next moves remain key for market sentiment. A detailed look at FX and debt trends highlights the evolving economic outlook.
The Canadian dollar weakened against the U.S. dollar as Canadian and U.S. bond yields fell amid concerns over global growth, softer oil demand, and shifting central bank rate cut expectations. Markets price in a higher chance of earlier rate cuts by the Bank of Canada, weighing on the loonie.
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USD/CAD finds itself at a critical juncture as rising oil prices bolster the Canadian dollar, while growing Fed caution tempers the U.S. dollar’s strength. Traders should watch key economic data and central bank signals closely for potential shifts in momentum.
Adapted from analysis by Zhiqiang Liu, Futunn News.
The U.S. dollar strengthened Monday as U.S. Treasury yields climbed, reflecting growing market confidence in a less accommodative Federal Reserve. The 10-year yield surpassed 4.44%, pushing the dollar higher against major currencies. EUR/USD retreated amid ECB rate cut expectations, GBP/USD slipped on uncertainty over BoE policy, while USD/JPY and USD/CAD gained on diverging central bank outlooks. The resilience of U.S. economic data and shifting rate expectations continue to shape currency pair dynamics.
Canadian CPI cooling more than expected has shifted market focus ahead of the Bank of Canada’s June 5 meeting. Slower inflation increases odds of an upcoming rate cut, pressuring the loonie and pushing USD/CAD higher toward 1.3650. Investors watch carefully for BoC guidance amid mixed oil and US data influences.
