Tag - cad - canadian dollar

USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.

Asian equities were mostly positive after the stimulus-driven momentum on Wall St. which lifted all major US indices to fresh unprecedented levels.

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Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street.

Asian equity markets traded mostly higher as the region took impetus from global peers including the advances on Wall Street as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programmes accelerated.

What is moving the markets today?

USD/CAD is eyeing 1.2900. What’s next?

Asian equities traded mixed and attempted to shrug off the weak handover from the US where there was a slight negative bias.

President Joe Biden is expected to sign a new “Buy American” order, underlining the essential continuity of US trade policy despite the radical change of tone expected from Donald Trump’s administration.

Asia-Pac bourses took impetus from the gains on Wall Street where stocks rallied to all-time highs and the Nasdaq outperformed.

Global stocks were mostly lower on Monday, following the weakness on Wall Street on Friday that stemmed from the weaker-than-expected retail sales report for December.

Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.