The Canadian Dollar, USD/CAD, Crude Oil, Dow Jones, the Financial-Stocks – Asia-Pacific-the Market is Open
The Canadian Dollar, Crude Oil, Dow Jones, the Gain as Financials Lead Stocks Higher
The growth-linked Canadian Dollar, which can, sometimes, be sensitive to crude oil prices – cautiously rose on Thursday, as sentiment recovered during the North American trading session. WTI crude oil closed at its highest level since early April, as the Dow Jones and the S&P 500 wrapped up +1.62% and +1.15% at the end of the session. This followed earlier declines in the equivalent of futures contracts in the Asia-Pacific hours.
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Financial data to conduct a day. The reports crossed the wires that Fannie Mae and Freddie Mac, two mortgage giants, extended suspensions on foreclosures and evictions until the 20 June. These measures were duties, the corona virus and the following lockdown, it started its economic health. Mark Calabria, the Federal Housing Finance Agency Director, said that “no one should be forced from their homes during the financial crisis.
The Feeling is then improved later in the session, as the Connecticut adjusted unemployment insurance claims are down, to a 29,846-of-298,680. At the national level of unemployment compensation had jumped again to more than $ 2.9 million last week. That was higher than the 2.5 million consensus. During this time, speaker of the House Nancy Pelosi has left the door open to the negotiation of passing a virus in the draft law. It is, as the White House has threatened to veto the bill, Democratic decision-makers proposed this week.
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On Friday, the Asia and the Pacific of the Trading Session
With this in mind, we can see the Asia-Pacific actions to follow the upbeat lead from Wall Street as the week ends. That can range from a few of the low growth in the sentiment-linked Australian Dollar over the past 24 hours. This may also bode ill for the anti-risk Japanese Yen. The AUD/USD could also be closely watching incoming Chinese industrial production and retail sales data. These will also provide an overview of the health of the second-largest economy.
Canadian Dollar Technical Analysis
Despite recent gains in the value of the Canadian Dollar, with the USD/CAD remains in a persistent consolidative mode. Prices have been ranging between 1.3852 and 1.4265 since the end of March. The direction of the session-and could pave the way for the next pair of the trend is given a technical confirmation. The break, however, under rising support from the late February – pink-line, below – has struggled to get the confirmation.
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USD/CAD Technical Analysis – Daily Chart
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— Written by Daniel Dubrovsky, a Currency Analyst to DailyFX.com
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