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  1. #1
    Legendry Member milos's Avatar

    The Canadian dollar continued to weaken against the US dollar !!!

    The Canadian dollar continued to weaken against the US dollar supported Canada after disappointing economic data on economic growth. Official data showed that Canadian GDP fell in July to minus 0.5% from 0.2% in the previous month. Analysts had expected a drop to minus 1%.
    Currency pair USDCAD trades recorded during the previous peak at 1.0550 and subsequently consolidated at 1.0542. The pair was likely to find support at 1.0481, the low in Thursday and resistance at 1.0575. The Canadian dollar was higher against the euro,yen and the franc but weakened against the Australian dollar. EURCAD fell to 1,3909, CADJPY rose to 93.05, CADCHF rose to 0.8834, while AUDCAD rose slightly to 0.9395

  2. #2
    Solid Member Murphy13's Avatar
    CAD pairs are more exotic for me. I barely trade them, but actually USD/CAD is a major pair. Isn’t it? The Canadian GDP data is really not so good and this could continue to push Canadian dollar lower against the US dollar in the next week. Do you think guys it is good to trade Call options on that pair with weekly duration or it is better to not trade such long duration options in the first week of September?

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