Alright, so here’s the thing. The Canadian Dollar, our dear old Loonie, got a minor boost because, well, the US Dollar stumbled a bit. It’s got to do with this whole political drama thing. Trump went and had a pop at Jerome Powell from the Fed—basically saying stuff that made investors scratch their heads about who’s really pulling the strings.
Anyway, USD/CAD was bobbing around 1.363-ish, down about 0.70%—that’s just how it goes. Oil prices were doing their own little dance, not really helping or hurting. It’s like watching a cat chase its tail, you know? The USD was on the ropes, but without a strong push from oil, the Loonie was just kind of chilling.
Meanwhile, you’ve got this US Dollar Index thing, it’s like a barometer for the Greenback. It nudged down to its lowest in, what, three years? Mixed bag of US economic numbers came out—Durable Goods shot up, which sounds fancy but also kinda messy because the economy took a nosedive, dipping 0.5% when folks thought it would be, like, 0.2%. Whoops.
Jobless claims? Oh, they fell to 236,000. Sounds good, right? But they’re still way higher than usual, so the labor market’s kinda like, “Eh, maybe not so rosy.”
Technically speaking (if that means anything), USD/CAD’s in this downward channel. Think of it as a slippery slide nobody can climb. It tried to pop up a few times but, nope, gravity’s got it. Hanging around 1.3630-ish just now, getting cozy near the bottom of the Bollinger Bands. If it punches through, it might hit 1.35, which would be… intriguing? Above 1.3680, though, now that might stir things up.
And these momentum indicators, like RSI and MACD—yeah, the market jargon is wild. RSI says we’re below neutral, so still bearish vibes. MACD’s flirting with bullish signs, kind of like a high school crush that never quite turns to romance. Bulls need to break that channel to shake things up. Until then, it’s just a slow glide down. Fascinating stuff, really.
