{"id":82398,"date":"2019-11-20T10:23:20","date_gmt":"2019-11-20T15:23:20","guid":{"rendered":"https:\/\/currencylive.com\/?p=82398"},"modified":"2019-11-20T10:01:07","modified_gmt":"2019-11-20T15:01:07","slug":"101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\/","title":{"rendered":"USD\/CAD: US Dollar Gives Back Gains After Touching Multi-Week Highs Against Loonie"},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F82398&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li>USD\/CAD formed a bullish candle after Canada\u2019s manufacturing sales edged down 0.2% in September<\/li>\n<li>1 US dollar bought 1.3287 Canadian dollars, as of 2:20 PM London time<\/li>\n<li>Consumer Price Index &#8211; 0.3% in October, according to forecasts<\/li>\n<\/ul>\n<p>The US dollar continued to perform strongly against the Canadian dollar in today\u2019s trade. But lost some ground with the opening of the North American session and the release of Canadian CPI data.<\/p>\n<p>The pair reached an intraday high of 1.3315 in the early morning but gave back most of the gains at the time of writing. As of 2:20 p.m. London time, one US dollar bought 1.3287 Canadian dollars.<\/p>\n<p>Yesterday, the pair formed a strong bullish candle after Canada\u2019s manufacturing sales edged down 0.2% in September.\u00a0 It beat market forecasts of a 0.5% fall. Nevertheless, the latest number is still well below the August reading, when manufacturing sales rose 0.8% month-on-month.<\/p>\n<p>The change in the sales value made by manufacturers is a leading indicator of economic health as it provides valuable insight into future spending, investment, and hiring activities.<\/p>\n<p>Another important market indicator, the Consumer Price Index (CPI) showed that inflationary pressures in Canada are building up again. The CPI came in at 0.3% in October, matching forecasts and rising strongly from the previous month\u2019s 0.4% fall. On a year-over-year basis, the CPI rose 1.9% in October.<\/p>\n<p>Technicals show a vanishing bullish momentum after a powerful break above the November 14 high of 1.3270 this morning. The daily candle is forming a pinbar pattern, signaling a possible rejection of higher prices in the coming period.<\/p>\n<p>The USD\/CAD pair looks well supported in the lower 1.32s and higher oil prices could trigger a retest of those levels before we see further buying momentum. The trend in the short-term remains bullish, with the October 10 high of 1.3345 acting as an intermediary target to the upside.<\/p>\n<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F82398&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>USD\/CAD formed a bullish candle after Canada\u2019s manufacturing sales edged down 0.2% in September 1 US dollar bought 1.3287 Canadian dollars, as of 2:20 PM London time Consumer Price Index &#8211; 0.3% in October, according to forecasts The US dollar continued to perform strongly against the Canadian dollar in today\u2019s trade. But lost some ground [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":82401,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1381],"tags":[1680,1683,1870,1397,1398],"class_list":["post-82398","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cad","category-usd","tag-cad","tag-canadian-dollar","tag-exchange-rates","tag-us-dollar","tag-usd"],"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: US Dollar Gives Back Gains After Touching Multi-Week Highs Against Loonie - 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\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/CAD: US Dollar Gives Back Gains After Touching Multi-Week Highs Against Loonie\",\"datePublished\":\"2019-11-20T15:23:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/\"},\"wordCount\":560,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-cad-exchange-rate.jpg\",\"keywords\":[\"cad\",\"canadian dollar\",\"exchange rates\",\"us dollar\",\"usd\"],\"articleSection\":[\"CAD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101548-usd-cad-us-dollar-gives-back-gains-after-touching-multi-week-highs-against-loonie\\\/\",\"name\":\"USD\\\/CAD: US Dollar Gives Back Gains After Touching Multi-Week Highs Against Loonie - 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