{"id":106300,"date":"2020-11-02T19:06:20","date_gmt":"2020-11-02T19:06:20","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106300"},"modified":"2020-11-02T19:06:20","modified_gmt":"2020-11-02T19:06:20","slug":"104704-usd-cad-drops-under-1-33-to-daily-low","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104704-usd-cad-drops-under-1-33-to-daily-low\/","title":{"rendered":"USD\/CAD drops under 1.33 to daily low"},"content":{"rendered":"<ul>\n<li><strong>USD\/CAD came under pressure\u00a0 at higher levels and pulled back over 80 pips from the daily high.<\/strong><\/li>\n<li><strong>\u00a0US political uncertainty sparked the unwinding of some\u00a0 USD bullish bets.<\/strong><\/li>\n<li><strong>Tumbling crude oil prices undermined the loonie and could help limit further\u00a0 losses for the pair.<\/strong><\/li>\n<li><strong>USD\/CAD extended its selloff falling below 1.33round-figure\u00a0 hitting a daily low.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The pair failed to capitalize on its push higher, coming under pressure and retreating over 80 pips from the daily\u00a0 high, around\u00a0 1.3370. The move lower lacked any clear fundamental catalyst and could be down to the unwinding of some USD long trades.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even though fears remain over the economic impact of more\u00a0 coronavirus- lockdowns in Western countries, rising political jitters over\u00a0 outcome of the US presidential election has kept\u00a0 USD buyers from placing fresh trades. A small ick higher in US Treasury bond yields was also shrugged off..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Weak crude oil prices could continue to undermine demand for the commodity-linked Canadian Dollar .. Which limited the downside for the USD\/CAD pair, at least for now. Cautious should be taken before taking any short position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Oil prices skidded lower, extending losses from the previous week and dragging oil to its lowest level since May. Fears are growing that stricter measures to stem the spread of covid could see oil demand deteriorate further. Better than expected Chinese manufacturing PMIs helped to partly offset the negative factors capping losses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">US ISM Manufacturing PMI is up next. The data, along with any covid developments and the broader market sentiment, will drive the USD.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD came under pressure\u00a0 at higher levels and pulled back over 80 pips from the daily high. \u00a0US political uncertainty sparked the unwinding of some\u00a0 USD bullish bets. Tumbling crude oil prices undermined the loonie and could help limit further\u00a0 losses for the pair. USD\/CAD extended its selloff falling below 1.33round-figure\u00a0 hitting a daily low. [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":82480,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1398,1869],"class_list":{"0":"post-106300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd","9":"tag-cad","10":"tag-usd","11":"tag-usd-cad"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD drops under 1.33 to daily low - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104704-usd-cad-drops-under-1-33-to-daily-low\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD drops under 1.33 to daily low\",\"datePublished\":\"2020-11-02T19:06:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/\"},\"wordCount\":262,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-forex.jpg\",\"keywords\":[\"cad\",\"usd\",\"usd\\\/cad\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104704-usd-cad-drops-under-1-33-to-daily-low\\\/\",\"name\":\"USD\\\/CAD drops under 1.33 to daily low - 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