<\/p>\n
\n Share:<\/span><\/p>\n The Canadian Dollar (CAD) is getting pushed back into recent lows against the US Dollar (USD) as declining Crude Oil<\/a> and softening risk appetites weighed on the Loonie.<\/p>\n Canada saw a welcome bump in annualized Housing Starts in October, but the figure was entirely overshadowed by a miss for US Initial Jobless Claims, which is dragging down market sentiment.<\/p>\n The USD\/CAD reclaimed the 1.3700 handle during Thursday trading, setting the pair up for a fresh run at 1.3800.<\/p>\n The early week\u2019s declines saw the USD\/CAD ease into a near-term low of 1.3654 before getting a clean bounce off of the 50-day Simple Moving Average (SMA) and a rising trendline drawn from July\u2019s lows near 1.3100.<\/p>\n Long-term technical support comes from the 200-day SMA sitting near the 1.3500 handle. A bullish extension for the USD\/CAD will see bidders looking to take another run at cracking the 1.3900 handle at November\u2019s high bids.<\/p>\n <\/p>\n The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the weakest against the Japanese Yen.<\/p>\n The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)\/JPY (quote).<\/p>\n<\/div>\n <\/p>\n In the world of financial jargon the two widely used terms \u201crisk-on\u201d and \u201crisk off” refer to the level of risk that investors are willing to stomach during the period referenced. In a \u201crisk-on\u201d market, investors are optimistic about the future and more willing to buy risky assets. In a \u201crisk-off\u201d market investors start to \u2018play it safe\u2019 because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.<\/p>\n<\/section>\n Typically, during periods of \u201crisk-on\u201d, stock markets will rise, most commodities \u2013 except Gold \u2013 will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a \u201crisk-off\u201d market, Bonds go up \u2013 especially major government Bonds \u2013 Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.<\/p>\n<\/section>\n The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are \u201crisk-on\u201d. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.<\/p>\n<\/section>\n The major currencies that tend to rise during periods of \u201crisk-off\u201d are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world\u2019s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them \u2013 even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.<\/p>\n<\/section>\n<\/div>\n <\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Share: The Canadian Dollar is getting dragged down by declining Crude Oil bids. Housing Starts in Canada tick upward, overshadowed by US unemployment figures. WTI Crude Oil slumps below $74 per barrel. The Canadian Dollar (CAD) is getting pushed back into recent lows against the US Dollar (USD) as declining Crude Oil and softening risk […]<\/p>\n","protected":false},"author":2,"featured_media":6520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,252,247,253,249,5212,498,256,254],"class_list":["post-194993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-seo","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=194993"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194993\/revisions"}],"predecessor-version":[{"id":194995,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/194993\/revisions\/194995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6520"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=194993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=194993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=194993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Daily Digest Market Movers: Canadian Dollar on the back foot with no support from Crude Oil<\/h2>\n
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Technical Analysis: Canadian Dollar bounces off 50-day SMA, USD\/CAD sees rejection from rising trendline<\/h2>\n
USD\/CAD Daily Chart<\/h2>\n<\/p>\n
Canadian Dollar price today<\/h2>\n
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\n \u00a0<\/td>\n USD<\/strong><\/td>\n EUR<\/strong><\/td>\n GBP<\/strong><\/td>\n CAD<\/strong><\/td>\n AUD<\/strong><\/td>\n JPY<\/strong><\/td>\n NZD<\/strong><\/td>\n CHF<\/strong><\/td>\n<\/tr>\n \n USD<\/strong><\/td>\n \u00a0<\/td>\n -0.07%<\/td>\n 0.00%<\/td>\n 0.60%<\/td>\n 0.55%<\/td>\n -0.51%<\/td>\n 0.65%<\/td>\n 0.08%<\/td>\n<\/tr>\n \n EUR<\/strong><\/td>\n 0.06%<\/td>\n \u00a0<\/td>\n 0.05%<\/td>\n 0.66%<\/td>\n 0.59%<\/td>\n -0.46%<\/td>\n 0.71%<\/td>\n 0.12%<\/td>\n<\/tr>\n \n GBP<\/strong><\/td>\n 0.01%<\/td>\n -0.03%<\/td>\n \u00a0<\/td>\n 0.62%<\/td>\n 0.55%<\/td>\n -0.49%<\/td>\n 0.70%<\/td>\n 0.11%<\/td>\n<\/tr>\n \n CAD<\/strong><\/td>\n -0.60%<\/td>\n -0.63%<\/td>\n -0.61%<\/td>\n \u00a0<\/td>\n -0.09%<\/td>\n -1.11%<\/td>\n 0.06%<\/td>\n -0.52%<\/td>\n<\/tr>\n \n AUD<\/strong><\/td>\n -0.53%<\/td>\n -0.59%<\/td>\n -0.56%<\/td>\n 0.07%<\/td>\n \u00a0<\/td>\n -1.04%<\/td>\n 0.14%<\/td>\n -0.44%<\/td>\n<\/tr>\n \n JPY<\/strong><\/td>\n 0.51%<\/td>\n 0.45%<\/td>\n 0.50%<\/td>\n 1.11%<\/td>\n 1.05%<\/td>\n \u00a0<\/td>\n 1.16%<\/td>\n 0.59%<\/td>\n<\/tr>\n \n NZD<\/strong><\/td>\n -0.65%<\/td>\n -0.72%<\/td>\n -0.66%<\/td>\n -0.04%<\/td>\n -0.14%<\/td>\n -1.17%<\/td>\n \u00a0<\/td>\n -0.58%<\/td>\n<\/tr>\n \n CHF<\/strong><\/td>\n -0.10%<\/td>\n -0.15%<\/td>\n -0.09%<\/td>\n 0.51%<\/td>\n 0.45%<\/td>\n -0.60%<\/td>\n 0.56%<\/td>\n \u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Risk sentiment FAQs<\/h2>\n