{"id":106758,"date":"2020-11-20T21:25:26","date_gmt":"2020-11-20T21:25:26","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106758"},"modified":"2020-11-23T09:54:42","modified_gmt":"2020-11-23T09:54:42","slug":"104866-usd-cad-struggles-for-direction-below-1-31","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104866-usd-cad-struggles-for-direction-below-1-31\/","title":{"rendered":"USD\/CAD struggles for direction below 1.31"},"content":{"rendered":"<ul>\n<li><strong>USD\/CAD trades direction less under 1.31<\/strong><\/li>\n<li><strong>COVID-19 fears &amp; dovish Fed expectations dragged on\u00a0 USD capping\u00a0 gains.<\/strong><\/li>\n<li><strong>A slight pull back in crude oil prices undermined the CAD offering support.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">USD\/CAD struggled for direction moving between gains and losses around the 1.3075 .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A combination of diverging factors kept the pair range bound on Friday. Concerns over the economic hit from tightening COVID-19 restrictions in several US states are keeping US dollar bulls defensive, limiting gains on USD\/CAD.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Speculation of additional easing by the Fed is adding pressure to the greenback. Although risk off trade and safe haven demand offers some support to the USD.Risk sentiment declined after the US Treasury Secretary Steven Mnuchin pulled the plug on some Fed coronavirus pandemic relief measures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A mild drop in oil prices weighed on the commodity-linked CAD adding pressure to the USD\/CAD r. Rising covid cases globally are hitting the future demand outlook for fuel putting downward pressure on\u00a0 oil prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Looking ahead Canadian monthly retail sales data will be in focus. Broader risk sentiment and covid developments will drive the USD.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD trades direction less under 1.31 COVID-19 fears &amp; dovish Fed expectations dragged on\u00a0 USD capping\u00a0 gains. A slight pull back in crude oil prices undermined the CAD offering support. USD\/CAD struggled for direction moving between gains and losses around the 1.3075 . A combination of diverging factors kept the pair range bound on Friday. [&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":[],"class_list":{"0":"post-106758","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-usd"},"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 struggles for direction below 1.31 - 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\/104866-usd-cad-struggles-for-direction-below-1-31\/\" \/>\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\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/CAD struggles for direction below 1.31\",\"datePublished\":\"2020-11-20T21:25:26+00:00\",\"dateModified\":\"2020-11-23T09:54:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/\"},\"wordCount\":189,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-forex.jpg\",\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104866-usd-cad-struggles-for-direction-below-1-31\\\/\",\"name\":\"USD\\\/CAD struggles for direction below 1.31 - 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