Fundamental Analysis, USD/CAD

USD/CAD is Seeing Positive Price Action with Price Holding Steady

USD/CAD: The pair is seeing positive price action today with price holding steady above 1.42 handle on the sharp plunge in global crude oil price activity and the resultant change in fundamental strength. USD bulls are backed by safe-haven demand while CAD suffers from a global crude oil supply glut scenario. The pair is unlikely to see any change in directional bias regardless of macro data outcome as CAD bulls remain under overwhelming dovish pressure.

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TAGS: Crude OilFundamental Analysis USD/CAD

Karthik Subramanian
April 22, 2020

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