20 Feb 2015
USD/CAD above 1.2500 on data
FXStreet (Edinburgh) - The Canadian dollar is giving away initial gains vs. the greenback, now pushing USD/CAD to test highs around 1.2540.
USD/CAD firmer on data
Spot quickly climbed to the 1.2540 area following the miserable results from the retail sales in the Canadian economy, contracting 2.0% inter-month and 2.3% excluding the Fuel component. Both print missed previous forecasts for drops of 0.4% and 0.8%, respectively. Next on tap will be the US Markit’s manufacturing PMI, expected a tad lower at 53.6 for the current month.
USD/CAD levels to watch
At the moment the pair is up 0.15% at 1.2516. On the upside, the initial hurdle is placed at 1.2540 (high Feb.20) ahead of 1.2556 (high Feb.19) and then 1.2600 (psychological level). The initial support aligns at 1.2422 (low Feb.20) followed by 1.2360 (low Feb.17) and finally 1.2353 (low Feb.3).
USD/CAD firmer on data
Spot quickly climbed to the 1.2540 area following the miserable results from the retail sales in the Canadian economy, contracting 2.0% inter-month and 2.3% excluding the Fuel component. Both print missed previous forecasts for drops of 0.4% and 0.8%, respectively. Next on tap will be the US Markit’s manufacturing PMI, expected a tad lower at 53.6 for the current month.
USD/CAD levels to watch
At the moment the pair is up 0.15% at 1.2516. On the upside, the initial hurdle is placed at 1.2540 (high Feb.20) ahead of 1.2556 (high Feb.19) and then 1.2600 (psychological level). The initial support aligns at 1.2422 (low Feb.20) followed by 1.2360 (low Feb.17) and finally 1.2353 (low Feb.3).