Bubor rate (%) | (1D change) | |
O/N | 4.75 | (-7 bps) |
1M | 6.26 | (1 bps) |
3M | 6.62 | (1 bps) |
6M | 7.01 | (2 bps) |
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USDCAD traded to a new cycle low Friday. This week’s move lower and most recently, a break of 1.2552, the 76.4% retracement of the Jan 19 - Feb 24 rally, reinforces a bearish theme and signals scope for an extension lower. The focus is on the Jan 21 low of 1.2499 and 1.2451, the Jan 19 low. On the upside, initial firm resistance is seen at 1.2669, the 20-day EMA. A break of this average would ease current bearish pressure.
The daily favourability ratings of US political leaders continues to reflect a mistrust of politicians amongst voters.
Favourability Ratings: US political Leaders Real Clear Politics
AUDUSD strengthened further early Friday and continues to deliver new YTD and multi-month highs. This week’s important technical break has been the move above 0.7441, the Mar 7 high, marking an extension of the strong reversal from 0.7165, Mar 15 low. This reinforces the current bull cycle that started Jan 28. The break of 0.7441 signals scope for a climb towards 0.7556, the Oct 28 high. Initial firm support is seen at 0.7376.