CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

💲USDCAD surges over 1.0%

11:10 15 August 2022

Greenback strengthens at the start of new week

USD strengthened on Monday, benefiting from its safe haven status, as sentiment turned sour following a batch of disappointing data from China. Dollar erased has almost completely erased its post-CPI drop as investors digested recent data and some still expect aggressive tightening from Fed. The biggest movement can be seen in the USDCAD pair, which broke above 1.29 level and 200 SMA (red line). If current sentiment prevails, the next target for buyers is located around 1.2945. On the other hand, should sellers regain control, another downward move towards support at 1.2820 may be launched.

USDCAD, H4 interval. Source: xStation5

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