CAD holds trading range around 1.3950 ahead of CPI – Scotiabank

Source Fxstreet

The Canadian Dollar (CAD) continues to pivot around the mid-1.39 point as investors await signs on how US/Canada trade relations are going to evolve and the impact that will have on Canada’s domestic prospects, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Momentum is pretty week on the intraday and daily charts

"Immediate focus today falls on today on the April CPI report (the street and Scotia anticipate a 0.2% M/M decline in headline prices). Inflation is expected to fall sharply in Y/Y terms—to 1.6%, from March’s 2.3%. Core measures of inflation are forecast to remain unchanged from March, however, at 2.9% (Median) and 2.8% (for the Trim measure)."

"Spot is holding a relatively tight range just under the 1.40 point (200-day MA at 1.4024) as the market consolidates the nudge higher in the USD from 1.38 last week. Momentum is pretty week on the intraday and daily charts, which suggests more, broad range trading in the short run between 1.38/1.40. Intraday support is 1.3910/15."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Cardano Price Forecast: ADA on the verge of correction as momentum weakensCardano (ADA) trades in red on Tuesday at the time of writing, hovering around its key support level at $0.72. A decisive close below this level could trigger a correction. ADA’s falling daily active addresses and Decentralized Exchange (DEX) trading volume further support the bearish outlook.
Author  FXStreet
8 hours ago
Cardano (ADA) trades in red on Tuesday at the time of writing, hovering around its key support level at $0.72. A decisive close below this level could trigger a correction. ADA’s falling daily active addresses and Decentralized Exchange (DEX) trading volume further support the bearish outlook.
placeholder
AUD/JPY Price Forecast: Seems vulnerable while below 93.00 and 23.6% Fibo. levelThe AUD/JPY cross comes under renewed selling pressure following the previous day's modest uptick and drops to a nearly two-week low during the first half of the European session on Tuesday.
Author  FXStreet
9 hours ago
The AUD/JPY cross comes under renewed selling pressure following the previous day's modest uptick and drops to a nearly two-week low during the first half of the European session on Tuesday.
placeholder
Gold price edges lower amid easing haven demand, headwinds from Fed and TrumpGold (XAU/USD) price edges slightly lower on Tuesday, looking for direction after giving back the previous day’s gains, falling back to around $3,226 at the time of writing.
Author  FXStreet
9 hours ago
Gold (XAU/USD) price edges slightly lower on Tuesday, looking for direction after giving back the previous day’s gains, falling back to around $3,226 at the time of writing.
placeholder
Silver Price Forecast: XAG/USD challenges strong resistance at nine-day EMA around $32.50Silver price (XAG/USD) seems to extend its losses for the third successive session, trading around $32.30 per troy ounce during the European hours on Tuesday.
Author  FXStreet
9 hours ago
Silver price (XAG/USD) seems to extend its losses for the third successive session, trading around $32.30 per troy ounce during the European hours on Tuesday.
placeholder
Bitcoin Market Update: Spot Demand Climbs As Short-Term Profits Lose SteamBitcoin (BTC) continues to show signs of strength despite experiencing a minor pullback in its most recent trading session.
Author  NewsBTC
9 hours ago
Bitcoin (BTC) continues to show signs of strength despite experiencing a minor pullback in its most recent trading session.
Related Instrument
goTop
quote