- February 12, 2019
- Posted by: Joey Benedid
- Category: Market News
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Equity markets are in positive territory and risk is on a firmer footing as U.S. Congress appears to have avoided a shutdown with a tentative deal for partial funding of border security. Nothing is written in stone just yet as we await an official announcement. There is also hope that both the Chinese & the U.S. Presidents will meet after a White House statement inferring a meeting may be announced has bolstered sentiment.
USD/CAD has followed general market themes and is trading lower after this 180 degree turn in market sentiment. This move is also supported by higher oil prices after Saudi Arabia pledged deeper production cuts in March. USD/CAD should find support at 1.3230 and 1.3180 with resistance above at 1.3320 and 1.3365.