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USDCAD

USD/CAD Continues to Allow USD to Recover Strength

July 31, 2020
USD/CAD Hourly (H1) Chart
USD/CAD Hourly (H1) Chart

USD/CAD: While five other major global currencies continue to post gains against USD on rally driven by Greenback’s weakness, the commodity-linked currency continues to allow USD to recover strength. As Crude oil market conditions look bleak, the Greenback has managed to move back above 1.34 handle while loonie is likely to suffer further decline on the disappointing demand outlook for liquid gold. Traders now await US data for short term profit opportunities. 

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