The Canadian maintains stability. Investments in the economy are growing

The Canadian dollar maintains its position against the US dollar amid a restrained oil price dynamics, as well as due to the growth of investment in the Canadian economy. According to published data, the volume of foreign investment in Canadian securities in October was $ 20.808 billion, exceeding the previous value of $ 16.686 billion. The volume of purchases of foreign securities by residents of Canada was $ 16.485 billion, exceeding the previous figure of $ 1.749 billion.

Technical analysis: Thanks to the Friday US dollar rally, the USD/CAD pair is trying to gain a foothold above the downlink resistance line at D1, which is a signal of a possible trend increase in the short term. At the moment on the chart of H1, the “Double Top” figure is formed. If it is developed and the price is fixed below the 1.2845 mark, one should expect the price to fall to the level of 1,2800.00.

Fig. USD/CAD. The current price is $ 1.2877.

Alexander Sivtsov