
Canadian Dollar Forecast: USD/CAD Reverses Ahead of August Low
USD/CAD reverses ahead of the August low (1.3722) to stage a four-day rally.
Stay in step with market opportunities and get insights, actionable trade ideas and dedicated support.

USD/CAD reverses ahead of the August low (1.3722) to stage a four-day rally.

GBP/USD gives back the rebound from the weekly low (1.3334) as the ISM Services index climbs to 52.0 in August from 50.1 the month prior.

The US is expected to add 75K jobs in August, while the Unemployment Rate is seen widening to 4.3% from 4.2% during the same period.

USD/JPY seems to be defending the rebound from the August low (146.22) as it climbs to a fresh weekly high (149.14).

EUR/USD pulls back ahead of the August high (1.1743) to register a fresh weekly low (1.1613).

USD/CAD falls toward the monthly low (1.3722) as it gives back the rebound from earlier this week.

AUD/USD seems to be defending the rebound from the monthly low (0.6415) as it retraces the decline from earlier this week.

The price of gold bounces back ahead of the monthly low ($3282) to trade back above the 50-Day SMA ($3347).

GBP/USD seems to be defending the rally following the Fed Symposium as it retraces the decline from the start of the week.

USD/JPY bounces back ahead of the monthly low (146.22) even though the Federal Reserve prepares to further unwind its restrictive policy.

USD/CAD tumbles from a fresh monthly high (1.3919) as Federal Reserve Chairman Jerome Powell warns that ‘the shifting balance of risks may warrant adjusting our policy stance.'

EUR/USD is under pressure after failing to test the monthly high (1.1730).

AUD/USD extends the decline from earlier this week to approach the monthly low (0.6419).
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.