Canadian Dollar Declines Against the US Dollar on NAFTA Concerns
The Canadian dollar declined to an almost seven-week low against the U.S. dollar, as uncertainties over the NAFTA deepened.
In a tweet posted on Saturday, U.S. President Donald Trump said there is "no political necessity to keep Canada in the new NAFTA deal," and that Congress "should not interfere" with the negotiations. Last week, the U.S. and Mexico went ahead with a deal without Canada.
There was apparently some expectation last week that Canada would be joining the new deal, but Trump’s latest tweet might have dampened that outlook. With around 75 percent of its exports sent to the United States, Canada’s economy could potentially feel a substantial headwind if a deal is not reached. The U.S. dollar rose to 1.3192 against the Canadian dollar on Tuesday - its highest level since July 20. The greenback later eased to 1.3181.
Momentum Indicator for CADUSD turns positive, indicating new upward trend
CADUSD saw its Momentum Indicator move above the 0 level on April 02, 2025. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 136 similar instances where the indicator turned positive. In of the 136 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where CADUSD's RSI Indicator exited the oversold zone, of 41 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for CADUSD just turned positive on April 02, 2025. Looking at past instances where CADUSD's MACD turned positive, the stock continued to rise in of 100 cases over the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 260 cases where CADUSD Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 85 cases where CADUSD's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CADUSD declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CADUSD broke above its upper Bollinger Band on March 17, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
