USDCAD vs S&P500

by Ashraf Laidi

Apr 23, 2009 14:11

The increasingly negative correlation between USDCAD and S&P500 reflects the increasingly positive correlation between the Canadian dollar and equities, as the current represents risk appetite (widely vulnerable to declines in US weakness and oil prices and vice versa). Just we have seen S&P500 topping out at 869, USDCAD bottomed at 1.1980, while the bounce in USDCAD to 1.25 from the BoC rate cut occurred along with

the retreat in equities. Considering expectations for equity indices to consolidate into the next week before pulling back towards 800,we could see USDCAD retest 1.2440 and 1.2550. USDCAD support remains at 1.2270-80, while S&P500 resistance stands at 855 and 870.

More Hot-Charts

• Gold & Nasdaq100

  Sep 28, 2026 10:32 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...
• 

  Gold & GoldBugs

  Sep 24, 2026 11:51 | by Ashraf Laidi
  If the inverse relation between gold and goldbugs index explained repeatedly in previous videos such as here  and here continues to work, then watching the 4230 level is as important as...

• Nasdaq Part 2

  Sep 24, 2026 9:44 | by Ashraf Laidi
  Now that Nasdaq has fallen following yesterday's post, will it extend declines to 30000. What do you think of this fractal.