{"id":106320,"date":"2020-11-03T10:35:50","date_gmt":"2020-11-03T10:35:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106320"},"modified":"2020-11-03T10:42:26","modified_gmt":"2020-11-03T10:42:26","slug":"104713-usd-cad-weak-as-dollar-traders-await-election-outcome","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\/","title":{"rendered":"USD\/CAD Weak As Dollar Traders Await Election Outcome"},"content":{"rendered":"<ul>\n<li><span style=\"font-weight: 400\">USD\/CAD witness follow-through selling after it settled down -0.74% on Monday. <\/span><\/li>\n<li><span style=\"font-weight: 400\">US elections put a lid on USD strength as investors are more cautious. <\/span><\/li>\n<li><span style=\"font-weight: 400\">Oil prices supported the Loonie and encouraged more CAD buying.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">USD\/CAD continued to trade in the red today after falling by over 150 pips yesterday. The pair trades below 1.3200 in the European session after a brief consolidation during the early trading.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The US presidential elections prompted many traders to unwind their bullish dollar-bets and pushed the USD\/CAD down.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The polls ahead of the official results suggest a Biden triumph over Trump, but investors are not taking any bet based on it as the actual result could differ. Other than the election worries, the current market mood doesn&#8217;t favour haven-linked assets like the dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The bullish price-action in oil helped the CAD&#8217;s strength and exerted weight on the USD\/CAD. The black-gold prices recovered from multi-month lows after reports indicated Russian oil firms agreeing to OPEC+ production cuts.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The pair witnessed some technical selling below 1.3200 round-figure mark in recent hours of trading, but need further confirmation for a sustained move; a bounce-back can also happen due to buying at lower levels. It is prudent to anticipate a range bound action until clarity emerges on the key political happening.<\/span><\/p>\n<p>At the time of writing, one US dollar buys 1.3149 Canadian dollars, down -0.51% as of 10:33 AM UTC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD witness follow-through selling after it settled down -0.74% on Monday. US elections put a lid on USD strength as investors are more cautious. Oil prices supported the Loonie and encouraged more CAD buying. USD\/CAD continued to trade in the red today after falling by over 150 pips yesterday. The pair trades below 1.3200 in [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[2445,1522,1782,1400,1397,2400,1869],"class_list":["post-106320","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cad","category-usd","tag-biden","tag-oil","tag-opec","tag-trump","tag-us-dollar","tag-us-election","tag-usd-cad"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/CAD Weak As Dollar Traders Await Election Outcome - 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\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\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\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"USD\\\/CAD Weak As Dollar Traders Await Election Outcome\",\"datePublished\":\"2020-11-03T10:35:50+00:00\",\"dateModified\":\"2020-11-03T10:42:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/\"},\"wordCount\":239,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100659-gbp-usd-powel-signals-rate-cut.jpg\",\"keywords\":[\"Biden\",\"oil\",\"opec\",\"trump\",\"us dollar\",\"US election\",\"usd\\\/cad\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104713-usd-cad-weak-as-dollar-traders-await-election-outcome\\\/\",\"name\":\"USD\\\/CAD Weak As Dollar Traders Await Election Outcome - 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