Bullish Divergence Hints at Rebound for USD/CAD
Canadian Greenback, USD/CAD, Coronavirus Vaccines, Crude Oil Costs, Bullish Divergence – Speaking Factors:
- The Canadian Dollar might surrender gained floor within the close to time period as coronavirus circumstances proceed to stay elevated.
- Bullish RSI divergence might ignite a rebound in USD/CAD charges.
Fairness markets traded broadly combined throughout Asia-Pacific commerce, with Australia’s ASX 200 and Hong Kong’s Cling Seng Index climbing increased whereas China’s CSI 300 and Japan’s Nikkei 225 misplaced floor. The Australian Dollar spiked increased within the wake of the Reserve Bank of Australia’s interest rate decision, earlier than persevering with its downward slide in direction of the back-end of the session.
The US Dollar adopted 10-year Treasury yields increased, whereas the New Zealand Dollar and Swiss Franc largely underperformed their main counterparts. Dollar energy weighed on gold prices, with the anti-fiat steel sliding 0.4% decrease. Crude oil prices additionally drifted decrease however nonetheless stay constructively…