Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us


Grab your $30 from XM

Top Stories
by ForexNewsNow Team on December 30, 2010

USD/CAD currency pair falls for eighth consecutive day

NEW YORK (Forex News Now) – The greenback fell against the loonie on Thursday, continuing a run of losses that has now reached eight consecutive days.

In currency market trading, USD/CAD hit 1.0004 at around 9:35 A.M., GMT, down 0.05% on the day, after hitting a session high of 1.0010 with a low of 0.9991 so far.

The dollar’s losses came as it fell against almost all its major counterparts on expectations of further money-printing by the US Federal Reserve in 2011.

According to USD/CAD analysis, the dollar was likely to touch support around the April 18 low of 0.9930, and to encounter resistance around the Dec. 20 high of 1.0208.

Trading of the currency pair should also be affected later Thursday by the release of key data on US jobless claims and pending home sales.

Elsewhere, the loonie fell against the yen: CAD/JPY traded at 81.45, down 0.11% in intraday analysis.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))