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U.S. Dollar/Canadian Dollar (^USDCAD)

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U.S. Dollar/Canadian Dollar Futures Market News and Commentary

Dollar Slightly Lower as T-note Yields Fall After Dovish US Deflator

The dollar index (DXY00) on Friday fell slightly by -0.05% in lackluster trading.  The dollar was undercut by Friday's -5.1 bp decline in the 10-year T-note yield to 4.190%, which followed the dovish US PCE deflator report, the Fed's preferred inflation measure.

Friday's PCE deflator report was close to expectations and supported the case for a FOMC rate cut in September.  On a month-on-month basis, the June PCE deflator report of +0.1% m/m (headline) and +0.2% (core) was exactly in line with market expectations.  On a year-on-year basis, the June PCE deflator of +2.5% y/y was in line with market expectations, fell from +2.6% in May, and matched the 3-1/4 year low of +2.5% posted earlier this year.  The June core PCE deflator of +2.6% y/y was slightly stronger than expectations of +2.5% and was unchanged from May's 3-1/4 year low of +2.6%.

The fact that both the headline and core PCE deflators were at 3-1/4 year lows in June was a dovish factor for Fed policy.  Also, the... Read more

Commitment of Traders Positions as of Jul 23, 2024

View Chart Details
Commercials - Long / Short
85,187 (+3,739)
253,851 (+34,824)
Non-Commercials - Long / Short
185,690 (+28,483)
24,087 (-647)
Dealers / Intermediary - Long / Short
2,699 (-341)
210,347 (+31,873)
Asset / Manager - Long / Short
162,183 (+22,847)
28,256 (-344)
Leveraged Funds - Long / Short
97,178 (+9,594)
14,209 (-1,785)
Other Reportables - Long / Short
2,557 (+456)
18,866 (+4,767)

Price Performance

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Period Period Low Period High Performance
1-Month
1.35893 +1.84%
on 07/11/24
1.38492 -0.07%
on 07/26/24
+0.01377 (+1.00%)
since 06/26/24
3-Month
1.35893 +1.84%
on 07/11/24
1.38492 -0.07%
on 07/26/24
+0.01692 (+1.24%)
since 04/26/24
52-Week
1.31512 +5.24%
on 07/31/23
1.38990 -0.43%
on 11/01/23
+0.06343 (+4.80%)
since 07/26/23

Most Recent Stories

More News
Elliott Wave Intraday Analysis: CHFJPY Bouncing Higher from Support Zone

Short Term Elliott Wave view in (CHFJPY) suggests the decline from 7.11.2024 high unfolded as a zigzag structure. Down from 7.11.2024 high, wave A ended at 175.84 and rally in wave B ended at 177.64....

^CHFJPY : 174.012 (-0.33%)
Elliott Wave Analysis: USDCAD turning upside from sideways

Hello traders, welcome to a new blog post. Today, we will discuss (USDCAD) as the pair is set to break out of a range that has lasted over two years.

^USDCAD : 1.38399 (+0.11%)
Sell Alert: Gold’s Breakout Was Just Invalidated

Gold reversed in a clear manner and invalidated its breakout. Buckle up!

USDCHF Elliott Wave Analysis Favors Selling Bounces

Hello traders, welcome to a new blog post. Today, we will discuss the future path for the (USDCHF) currency pair. The recent breakout confirmed the bearish bias we shared with members of Elliottwave-Forecast....

^USDCHF : 0.88369 (+0.23%)
USDJPY: Sell Raillies

USDJPY moved to the downside yesterday after Japanese officials stated that they will have no choice but to fight against speculators if the Japanese Yen experiences any further drops.

Dollar Index ( DXY ) Elliott Wave Calling the Decline After 3 Waves Bounce

In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index ($DXY) , published in members area of the website. As our members know, Dollar has given us recovery...

$DXY : 104.31 (-0.02%)
USDJPY Is Forming A Top

Looking at USDJPY think at least a temporary top has been found because price unfolded in five waves from July 3rd.

Elliott Wave Favors Further Upside in GBPUSD

(GBPUSD) broke above the previous peak on 6.12.2024 which opens up a bullish sequence from 4.22.2024 low. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure where wave 1 ended at...

^GBPUSD : 1.28681 (+0.13%)
USDSGD Elliott Wave Analysis expects extensive decline

Hello traders. Welcome to a new blog post. In this one, we will discuss the future path for the (USDSGD) forex pair based on the Elliott wave theory. The path will include both long-term ideas and where...

^USDSGD : 1.3426 (-0.06%)
A Healthy Consolidation Ahead of Powell, Day Two!

Discover insider insights on your favorite Precious Metals, uncover overnight developments, and gain expert analysis on what to watch for every trading day.

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 100% Buy and ranks in the Top 1% of all short term signal directions.

Long term indicators fully support a continuation of the trend.

The market is in highly overbought territory. Beware of a trend reversal.

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Key Turning Points

3rd Resistance Point 1.38986
2nd Resistance Point 1.38739
1st Resistance Point 1.38569
Last Price 1.38399
1st Support Level 1.38152
2nd Support Level 1.37905
3rd Support Level 1.37735

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52-Week High 1.38990
Last Price 1.38399
Fibonacci 61.8% 1.36133
Fibonacci 50% 1.35251
Fibonacci 38.2% 1.34369
52-Week Low 1.31512

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