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Risky assets are in demand again

February 25, 2022

USD/CAD: The Canadian dollar weakened to its lowest level since December against the U.S. dollar on Thursday. The U.S. dollar soared to its highest level in nearly two years, while Wall Street, bond yields and commodity markets had big intraday swings. The price of oil, one of Canada’s exports, traded above $100 a barrel for the first time since 2014. The loonie traded 0.5% lower at 1.2800 to the greenback, after touching its weakest intraday level since Dec. 22 at 1.2877. Immediate resistance can be seen at 1.28. A breakout up can trigger growth towards 1.2870.

BUY STOP 1.2800/TP 1.2870/SL 1.2770


GBP/USD: Sterling fell against the dollar on Thursday as investors rushed into safe-haven assets. Safe-haven currencies such as the yen and U.S. dollar were in demand against the backdrop of rising geopolitical tensions in Eastern Europe. The British currency is growing today, which may be due to technical factors, as well as the prospect of a rate increase in England. An additional growth factor is the complete abolition of anti-COVID measures, which will allow the country to return to normal life. Immediate resistance can be seen at 1.3450. A breakout up can trigger growth towards 1.3510.

BUY STOP 1.3450/TP 1.3510/SL 1.3430


EUR/USD: The euro recovered ground from its earlier plunge on Thursday. Investors are analyzing the data on inflation in the Eurozone in January published the day before. As expected, the figure at the beginning of the year is kept near the 5.1% level, but in monthly terms, the price growth rate slowed down somewhat from 0.4% to 0.3%. It is likely that high inflation will put pressure on the European Central Bank (ECB), which is due to meet for its next meeting in March. Immediate resistance can be seen at 1.1240. A breakout up can trigger growth towards 1.1300.

BUY STOP 1.1240/TP 1.1300/SL 1.1220