Home -
Brokers -
Main body -

WikiFX Express

Exness
EC Markets
TMGM
XM
FXTM
FOREX.com
AvaTrade
IC Markets Global
FXCM
ACCM

Canadian Dollar Update – Canadian dollar rises with improved risk sentiment

KnightsbridgeFX | 2023-09-14 11:05

Abstract:USD/CAD Open: 1.3596-68, Overnight Range: 1.3587-1.3640, Previous Close: 1.3640

其esdsz.jpg

USD/CAD Open: 1.3596-68, Overnight Range: 1.3587-1.3640, Previous Close: 1.3640

WTI Oil open at $87.00 and gold open at $1,925.49. US markets are higher today.

For today, USD resistance is at 1.3598. Support is at 1.3551.

• Risk sentiment turns positive with JPY rally.

• PBoC pushes back against USDCNY gains.

• US dollar gives back some gains-AUD outperforms.

The Canadian dollar started strong in Asia and continued to gain steadily into the NY opening. These gains were attributed to a modest improvement in global risk sentiment following verbal intervention by the Bank of Japan (BoJ) Governor and actions taken by the Peoples Bank of China (PBoC) to weaken USDCNY.

BoJ Governor Kasuo Ueda made a concerted effort to push USDJPY lower when he suggested that an end to negative interest rates might be on the horizon. Mr. Ueda mentioned that policymakers could potentially gather enough information by year-end to determine whether wages and prices would continue to rise, making an end to negative interest rates a viable option. The news caused USDJPY to plummet, affecting the rest of the G-10 currencies positively.

The PBoC deliberately set the USDCNY fixing level 0128 points below the spot USDCNY rate as part of its ongoing efforts to bolster its currency. Additionally, Chinese inflation inched up, rising 0.1% in August compared to Julys -0.3%. This increase in the inflation rate has raised hopes that the 1-year Medium Loan Financing rate could be trimmed as early as this Friday, although this is not the consensus among experts.

While it might be tempting to attribute some of the Canadian dollars gains to better-than-expected Canadian employment data released on Friday, this is not the case. The Canadian dollar actually weakened, despite Statistics Canada reporting a gain of 39,900 jobs in August. One contributing factor is the weakness in the job details: the private sector lost 22,700 jobs, while the public sector gained 13,200, and self-employment rose by 49,200.

Interestingly, the Canadian dollar seems unaffected by movements in oil prices. West Texas Intermediate (WTI) traded quietly within a range of $86.72 to $87.38 per barrel.

EURUSD traded in a 1.0708-1.0741 band with prices tracking broad US dollar sentiment ahead of Wednesday‘s US inflation report and Thursday’s ECB monetary policy meeting.

GBPUSD climbed to 1.2538 from 1.2466 then slipped to 1.2513 in NY do to the improved global risk tone.

USDJPY churned in a 145.91- 147.82 band following the BoJ Governors verbal intervention. Prices climbed off the low in the wake of higher US Treasury yields.

AUDUSD rallied from 0.6377 to 0.6443 because of higher Chinese inflation and the better tone in global risk sentiment.

There are no US or Canadian economic reports today.

img_v2_b16b2b19-0b04-4bd6-9ba8-fbf10f93dacg.jpg
Forex trading

Related broker

No Regulation
KnightsbridgeFX
Company name:Knightsbridge Foreign Exchange
Score
1.57
Website:https://www.knightsbridgefx.com/
5-10 years | Suspicious Regulatory License | High potential risk |
Score
1.57

Read more

Never Heard of Dynasty Trade? Here's Why You Should Be Worried

Have you heard this name before? No , it’s time you do because staying unaware could cost you. This platform is currently active in the forex trading and has been linked to several suspicious activities. Even if you’ve never dealt with it directly, there’s a chance it could reach out to you through ads, calls, messages, or social media. That’s why it’s important to know the red flags in advance.

Original 2025-07-25 19:50

Want to Deposit in the EVM Prime Platform? Stop Before You Lose It ALL

Contemplating forex investments in the EVM Prime platform? Think again! We empathize with those who have been bearing losses after losses with EVM Prime. We don't want you to be its next victim. Read this story that has investor complaints about EVM Prime.

Original 2025-07-25 19:43

WEEKLY SCAM BROKERS LIST IS OUT! Check it now

If you missed this week's fraud brokers list and are finding it difficult to track them one by one — don’t worry! We’ve brought together all the scam brokers you need to avoid, all in one place. Check this list now to stay alert and protect yourself from fraudulent brokers.

Original 2025-07-25 18:42

Catch the Latest Update on BotBro & Lavish Chaudhary

BotBro, an AI-based trading platform, became popular in India in 2024—but for negative reasons. Its founder, Lavish Chaudhary, who gained a huge following by promoting it heavily on social media. Since then, he has become well-known, but for many controversies. Let’s know the latest update about Botbro & Lavish Chaudhary.

Original 2025-07-25 18:28

WikiFX Express

Exness
EC Markets
TMGM
XM
FXTM
FOREX.com
AvaTrade
IC Markets Global
FXCM
ACCM

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
STARTRADER

STARTRADER

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
STARTRADER

STARTRADER

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
STARTRADER

STARTRADER

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
STARTRADER

STARTRADER

Regulated

Latest News

Is Your Forex Strategy Failing? Here’s When to Change

WikiFX
2025-07-25 15:34

FSMA Warns That Some Firms Operate as Pyramid Schemes

WikiFX
2025-07-25 16:21

Apex Trader Funding is an Unregulated Firm | You Must Know the Risks

WikiFX
2025-07-25 16:53

Sigma-One Capital Scam? Investors Say They Can’t Withdraw Funds

WikiFX
2025-07-25 18:12

Federal Reserve likely to hold interest rates steady despite pressure from Trump. Here's what that means for your money

WikiFX
2025-07-25 11:30

WEEKLY SCAM BROKERS LIST IS OUT! Check it now

WikiFX
2025-07-25 18:42

Intel drops 9% as chipmaker's foundry business axes projects, struggles to find customers

WikiFX
2025-07-25 17:02

Palantir joins list of 20 most valuable U.S. companies, with stock more than doubling in 2025

WikiFX
2025-07-25 19:31

Textiles to whisky: U.K.–India 'historic' deal is set to boost bilateral trade by over $34 billion a year

WikiFX
2025-07-25 14:46

Thailand-Cambodia border clashes: Cambodia's economy has more to lose, analysts say

WikiFX
2025-07-25 08:19

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

HouseCapital

HouseCapital

COMMSTOCK

COMMSTOCK

DLS GROUP

DLS GROUP

FIS

FIS

Axiom Markets

Axiom Markets

V P Consultants

V P Consultants

 TradePro Market

TradePro Market

DOTO Futures

DOTO Futures

Equitas

Equitas

EQUINOX

EQUINOX