USD fights back! Canadian dollar extends decline

4 February 2015, 17:53
Andrius Kulvinskas
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The US dollar is recovering ground after its worst day in more than a year and it is performing better than its major competitors. The USD's advance is pressuring the oil and US stocks to the downside.

On the downside, the Canadian dollar is trading under pressure following a weak Canadian Ivey PMIdata and an upbeat US ISM non-manufacturing data. Meanwhile, weak Crude prices continue to weigh over the CAD.

The EUR/USD is falling 0.51% so far today to test the 1.1400 level; the USD/JPY is trading at break event around 117.50; the GBP/USD is rising 0.40% on the day to test the 1.5250 area. Extending its 2-day rebound from the key 1.5000.

Top winners are: USD/RUB, +3.98% to 67.73; USD/CAD,+1.33% to 1.2576; USD/BRL, +1.18% to 2.7242. To the downside, bigger losers are CAD/JPY, -1.38% to 93.36; CAD/CHF, -0.99% to 0.7364; and EUR/GBP, -0.90% to 0.7500.
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