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24 Jan 2024

USD/CAD Softness through 1.3450/1.3460 may extend to retest the low 1.3400 area again – Scotiabank

USD/CAD drops marginally. Economists at Scotiabank analyze the pair’s outlook.

Resistance at 1.3480/1.3500 is firming up

Short-term price action is leaning USD-negative on the intraday chart following Tuesday’s slide back in funds from the upper 1.3400 area. Softness through 1.3450/1.3460 may extend to retest the low 1.3400 area again later today.

On the daily chart, the USD’s failure to hold gains through the upper 1.3400s is starting to look a little more significant, with spot losses compromising trend support of the late December low. 

Resistance at 1.3480/1.3500 is firming up.

 

Jan 24, 2024

US Dollar slides ahead of US PMI numbers

The US Dollar (USD) slides lower against most major peers on Wednesday as markets send it lower. The initial moves came with German and European Purchasing Manager Indexes (PMIs), which in nearly all sectors showed improvement (though
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Jan 24, 2024

EUR/USD: Rebound to develop a little more momentum on a push through 1.0925 resistance – Scotiabank

EUR/USD retests the 1.0900 mark. Economists at Scotiabank analyze the pair’s outlook.
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