Aussie, EMFX, Asians Fall; Yen Outperforms, Kiwi Steady Summary: Risk appetite soured as Afghanistan’s government collapsed after US President Biden hastily withdrew all troops.
Yen Jumps; Kiwi Soars, RBNZ Seen Raising Rates; USD Longs Bail Summary: A surprisingly soft read of a US consumer confidence measure saw bond yields and the Dollar retreat as long bets bailed on Frida
Apr 15, 2021 15:51 GMTFXStreet News
USD/CAD witnessed some follow-through selling for the third consecutive session on Thursday.
A modest USD rebound, a pullback in crude oil prices helped limit the downside, at least for now.
Upbeat US macro releases failed to impress bullish traders or provide any meaningful impetus.
The USD/CAD pair recovered a major part of its early lost ground to monthly lows and was last seen trading with only modest losses, just above the key 1.2500 psychological mark.
The pair extended this week’s rejection slide from the 1.2625-30 heavy supply zone and remained depressed for the third consecutive session on Thursday. The downward momentum pushed the USD/CAD pair further below the key 1.2500 psychological mark, to the lowest level since March 22.
Jan 19, 2021 04:27 GMTFXStreet News
USD/CAD extends decline in tandem with the US dollar.
The bulls defending the critical support near 1.2715, for now.
Focus shifts to the Canadian data and Treasury Sec. nominee Yellen.
USD/CAD extends the pullback from five-day tops into Tuesday, although the bears appear to take a breather following a steady decline from 1.2760.
The spot fell in tandem with the US dollar, as the return of risk-on flows weighed on the safe-haven demand for the greenback. Markets cheer calls for higher fiscal stimulus under Biden’s presidency after Treasury Secretary Nominee Janet Yellen urged Congress to do more to fight the pandemic recession.