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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 Edges Higher on Strength in Bond Yields

The dollar index (DXY00) Friday rose by +0.03% and posted a 2-1/2 week high. The dollar was supported by Friday’s news of an unexpected increase in the US Nov import price index ex-petroleum, a hawkish factor for Fed policy.  The dollar also found support from stronger interest rate differentials with Friday’s rise in the 10-year T-note yield to a 2-1/2 week high. 

Strength in stocks Friday reduced liquidity demand for the dollar.  The dollar was also undercut by expectations that the Fed will cut interest rates by -25 bp at next week’s FOMC meeting. 

The US Nov import price index ex-petroleum unexpectedly rose +0.2% m/m, stronger than expectations of no change.

The markets are discounting the chances at 97% for a -25 bp rate cut at the December 17-18 FOMC meeting.

EUR/USD (^EURUSD) Friday rose by +0.25%.  The euro on Friday recovered from a 2-1/2 week low and posted moderate gains after an increase in the 10-year German bund yield to a 2-1/2 week high, which... Read more

Commitment of Traders Positions as of Dec 10, 2024

View Chart Details
Commercials - Long / Short
137,570 (+41,504)
333,506 (+71,935)
Non-Commercials - Long / Short
210,588 (+29,546)
29,034 (+7,338)
Dealers / Intermediary - Long / Short
12,547 (-2,332)
254,413 (+35,328)
Asset / Manager - Long / Short
172,283 (+18,446)
28,718 (+1,561)
Leveraged Funds - Long / Short
98,423 (+14,522)
18,975 (+8,904)
Other Reportables - Long / Short
24,483 (+5,311)
20,012 (-1,623)

Price Performance

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Period Period Low Period High Performance
1-Month
1.39279 +2.19%
on 11/25/24
1.42450 -0.08%
on 12/13/24
+0.02349 (+1.68%)
since 11/13/24
3-Month
1.34198 +6.06%
on 09/25/24
1.42450 -0.08%
on 12/13/24
+0.06440 (+4.74%)
since 09/13/24
52-Week
1.31775 +8.01%
on 12/27/23
1.42450 -0.08%
on 12/13/24
+0.07153 (+5.29%)
since 12/13/23

Most Recent Stories

More News
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Gold is likely to rally even higher in the near term.

US Stock Trade Higher, Inflation Stubbornly Persists as Markets Await Central Bank Clues and Trump’s Tweets

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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 100% Buy with a Strongest short term outlook on maintaining the current direction.

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 1.42839
2nd Resistance Point 1.42645
1st Resistance Point 1.42489
Last Price 1.42334
1st Support Level 1.42139
2nd Support Level 1.41945
3rd Support Level 1.41789

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52-Week High 1.42450
Last Price 1.42334
Fibonacci 61.8% 1.38372
Fibonacci 50% 1.37112
Fibonacci 38.2% 1.35853
52-Week Low 1.31775

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