Canadian dollar among the worst performers of the US session. USDCAD on a bullish tone, breaking to 1.3 00. Crude oil falls more than %. USDCAD rises sharply during Friday’s US session. It recently hit a fresh intraday high of 1.3398 and then retreated modestly. He is eyeing the 1.3 00 area with a bullish tone as crude falls and the dollar recovers. CONCLUSION FAVORS THE DOLLAR According to data published in Canada, the industrial price index rose by 2. % in October, exceeding the expected 0. %. The raw material price index rose 1.3% compared to expectations for a flat reading. The numbers did not help the Canadian dollar. , Wall Street stocks cut gains as crude falls more than %. Meanwhile, the US dollar is strengthening as market sentiment weakens and US yields remain positive. Context reinforces USDCAD’s test of the 1.3 00 area, which limited Thursday’s gains. A break higher could open the door to the next resistance seen at 1.3 60. If the dollar fails here, a slide to 1.3300 looks likely over the next few sessions. Temporary resistance is located at 1.3355. USDCAD ends the week above 100 pips, ending a 5 week negative streak. The price rose from the lowest level in months and also from the 20-week simple moving average. A close of the week below 1.3250 should indicate further downside.

James Rogers

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