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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 Little Changed on Lower Bond Yields and Stock Weakness

The dollar index (DXY00) on Friday rose by +0.01%.  The dollar on Friday gave up most of an overnight advance and finished little changed.  The dollar spiked higher in overnight trade after US officials said Israel launched a retaliatory air strike against Iran in response to Iran’s rocket and drone attack on Israel last weekend.  However, the dollar fell back from its best levels on signs the damage was minimal, and an Iranian military official downplayed the attack.  Lower T-note yields Friday also weighed on the dollar.   

Liquidity demand for the dollar increased Friday after the S&P 500 tumbled to a 1-3/4 month low.  The dollar is also supported as Fed rate-cut expectations have dropped sharply due to recent strength in US economic news and hawkish Fed comments.  Swap markets are discounting the chance of a Fed rate cut at the June FOMC meeting at 19%, much less than the 66% chance the market had priced in earlier this month.

Hawkish comments on Friday from Chicago... Read more

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
75,262 (+5,658)
166,834 (+38,890)
Non-Commercials - Long / Short
119,882 (+31,756)
37,067 (+2,326)
Dealers / Intermediary - Long / Short
2,437 (-992)
117,923 (+33,276)
Asset / Manager - Long / Short
120,629 (+26,133)
43,705 (-1,120)
Leveraged Funds - Long / Short
65,246 (+13,880)
20,106 (+3,793)
Other Reportables - Long / Short
431 (-1,221)
15,766 (+5,653)

Price Performance

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Period Period Low Period High Performance
1-Month
1.34562 +2.18%
on 03/21/24
1.38459 -0.69%
on 04/16/24
+0.01834 (+1.35%)
since 03/19/24
3-Month
1.33588 +2.93%
on 01/31/24
1.38459 -0.69%
on 04/16/24
+0.03193 (+2.38%)
since 01/19/24
52-Week
1.30928 +5.02%
on 07/14/23
1.38990 -1.07%
on 11/01/23
+0.02902 (+2.16%)
since 04/19/23

Most Recent Stories

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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 88% Buy with a Average short term outlook on maintaining the current direction.

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Key Turning Points

3rd Resistance Point 1.38246
2nd Resistance Point 1.38031
1st Resistance Point 1.37853
Last Price 1.37501
1st Support Level 1.37460
2nd Support Level 1.37245
3rd Support Level 1.37067

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52-Week High 1.38990
Last Price 1.37501
Fibonacci 61.8% 1.35910
Fibonacci 50% 1.34959
Fibonacci 38.2% 1.34008
52-Week Low 1.30928

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