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USD/CAD Forecast Today - 02/10: Unstable Support (Video)
(MENAFN- Daily Forex)
- The US dollar initially did rally against the Canadian dollar but then plunged later as we had received a little bit of soft economic news. So, with the announcement of the ISM manufacturing PMI, coming out at 47.2 instead of 47.6, we started to see the US dollar crumble a bit against the Canadian dollar. It's probably also worth noting that the oil market had a wild swing to the upside, and that might be part of what we are seeing here. Underneath the current trading environment, we have the 1.3450 level, which is an area that does offer a certain amount of support.

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