📰 USDCAD Rises as Strong US Data and Tariff Fears Weigh on Canadian Dollar
📅
Jul 17, 2025, 10:41 EDT
| 🔗 Source: Trading Economics
🧠 Summary
USDCAD strengthened due to a broad USD rally driven by strong US retail sales, low jobless claims, and Fed's rate hold outlook. Canadian dollar weakened amid fears of 35% US tariffs on exports and steady core inflation, suggesting Bank of Canada will maintain current rates.
💡 Why this signal?
- The pair's inability to sustain a breakout above the 1.3749–1.3759 resistance suggests weakening bullish momentum.
- Retesting the 200-hour moving average support near 1.3699 is critical; a break below could push USDCAD lower toward weekly lows.
- Buyers must reclaim the 100-hour moving average to shift bias back to positive, but current price action favors bears in the near term.
📈 USDCAD Price Trend
⏱️ Impact Timing
as soon as the news is out
👥 Competitor Impact
No competitors impacted.
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