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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 Mixed Fed Comments

The dollar index (DXY00) on Friday fell by -0.01%.  The dollar was under pressure Friday on dovish comments from Atlanta Fed President Bostic, who said if the outlook unfolds as he expects, “it will be appropriate to cut interest rates this year.“  Friday’s weaker-than-expected report on US Apr leading indicators was also bearish for the dollar. 

Losses in the dollar were limited Friday due to higher T-note yield and hawkish comments from Fed Governor Bowman, who said she expects inflation to remain elevated “for some time.”

US Apr leading indicators fell -0.6% m/m, weaker than expectations of -0.3% m/m and the biggest decline in 6 months.

Fed Governor Bowman said, "With average core CPI this year through April running at an annualized rate of 4.3%, well above average inflation in the second half of last year, I expect inflation to remain elevated for some time."

Thursday evening, Atlanta Fed President Bostic said if the outlook unfolds as he expects, referri... Read more

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
69,406 (-7,139)
147,626 (-764)
Non-Commercials - Long / Short
114,589 (+12,423)
34,286 (+1,341)
Dealers / Intermediary - Long / Short
3,507 (-5,996)
106,492 (+2,258)
Asset / Manager - Long / Short
105,163 (+5,616)
41,790 (+1,798)
Leveraged Funds - Long / Short
67,398 (+5,853)
12,493 (-2,117)
Other Reportables - Long / Short
2,059 (unch)
15,269 (-1,173)

Price Performance

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Period Period Low Period High Performance
1-Month
1.35902 +0.17%
on 05/16/24
1.38045 -1.39%
on 04/19/24
-0.01603 (-1.16%)
since 04/17/24
3-Month
1.34203 +1.43%
on 03/08/24
1.38459 -1.68%
on 04/16/24
+0.01263 (+0.94%)
since 02/16/24
52-Week
1.30928 +3.97%
on 07/14/23
1.38990 -2.06%
on 11/01/23
+0.01582 (+1.18%)
since 05/17/23

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^EURJPY : 169.190 (+0.18%)

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 48% Buy with a Weakening short term outlook on maintaining the current direction.

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Key Turning Points

3rd Resistance Point 1.36930
2nd Resistance Point 1.36670
1st Resistance Point 1.36421
Last Price 1.36128
1st Support Level 1.35912
2nd Support Level 1.35652
3rd Support Level 1.35403

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52-Week High 1.38990
Last Price 1.36128
Fibonacci 61.8% 1.35910
Fibonacci 50% 1.34959
Fibonacci 38.2% 1.34008
52-Week Low 1.30928

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