Technical Analysis

Lagarde speaks to European parliament Covid 19 pandemic and measures to contain the spread of the virus, have caused an unprecedented contraction of economic activity in the euro area Financial conditions are still tighter today then at the outset of the Covid 19 pandemic ECB’s decisions will make sure that higher borrowing needs by fiscal authorities
First move below the 200 day MA since Feb 21 The USDCAD continues to move lower (loonie higher). The US job report wasn’t the only surprise. Canada also reported a surprise 500K gain in jobs in May earlier today. Looking at the daily chart above, the price of the USDCAD moved below its 200 day moving average at 1.3463.