Back
20 Aug 2015
USD/CAD breaches 1.3100 on data
FXStreet (Edinburgh) - The Canadian dollar is now picking up pace vs. its American counterpart on Thursday, sending USD/CAD to daily lows in the 1.3080/70 band.
USD/CAD weaker post-US data
The pair saw its downside accelerated after Canadian Wholesale Sales sharply rebounded during June, expanding 1.3% inter-month and reverted May’s contraction at 0.9%. In the US economy, Initial Claims came in roughly in line with market expectations at 277K in the week ended on August 14 vs. 272K initially estimated.
Next of relevance will be the manufacturing survey tracked by the Philly Fed followed by Existing Home Sales figures, seen at 5.44 million in July, or dropping 0.6%.
USD/CAD levels to consider
At the moment the pair is retreating 0.30% at 1.3082 with the next support at 1.3022 (low Aug.19) ahead of 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13). On the other hand, a surpass of 1.3178 (high Aug.20) would aim for 1.3183 (high Aug.10) and then 1.3197 (high Aug.6).
USD/CAD weaker post-US data
The pair saw its downside accelerated after Canadian Wholesale Sales sharply rebounded during June, expanding 1.3% inter-month and reverted May’s contraction at 0.9%. In the US economy, Initial Claims came in roughly in line with market expectations at 277K in the week ended on August 14 vs. 272K initially estimated.
Next of relevance will be the manufacturing survey tracked by the Philly Fed followed by Existing Home Sales figures, seen at 5.44 million in July, or dropping 0.6%.
USD/CAD levels to consider
At the moment the pair is retreating 0.30% at 1.3082 with the next support at 1.3022 (low Aug.19) ahead of 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13). On the other hand, a surpass of 1.3178 (high Aug.20) would aim for 1.3183 (high Aug.10) and then 1.3197 (high Aug.6).