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

• USDJPY and EURUSD

  Apr 22, 2026 11:57 | 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...

• US crude oil Update

  Apr 17, 2026 16:02 | 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...

• Patterns on Fridays & Mondays

  Mar 30, 2026 14:38 | by Ashraf Laidi
  Since the start of the war on Iran, the pattern of falling Fridays in US equity indices has become obvious. Will the pattern ends this week.