14 Jul 2015
USD/CAD dips to lows near 1.2720
FXStreet (Edinburgh) - The greenback has deflated to the 1.2720 vs. its Canadian counterpart on Tuesday after the poor results from the US docket.
USD/CAD softer on retail sales
Spot has surrendered initial gains to levels just beyond the 1.2800 mark after US retail sales disappointed markets today, contracting at a monthly pace of 0.3% during June vs. an expansion of 0.5% initially forecasted. Core sales has also followed suit, dropping 0.5%.
The pair has seen its upside renewed in early trade following the recent deal between Iran and the Western powers, weighing on crude oil prices and on the CAD as consequence.
USD/CAD key levels
At the moment the pair is up 0.14% at 1.2759 with the next hurdle at 1.2809 (high Jul.14) ahead of 1.2835 (2015 high Mar.18) and then 1.2900 (psychological level). On the downside, a break below 1.2716 (low Jul.14) would open the door to 1.2680 (low Jul.13) and finally 1.2662 (low Jul.10).
USD/CAD softer on retail sales
Spot has surrendered initial gains to levels just beyond the 1.2800 mark after US retail sales disappointed markets today, contracting at a monthly pace of 0.3% during June vs. an expansion of 0.5% initially forecasted. Core sales has also followed suit, dropping 0.5%.
The pair has seen its upside renewed in early trade following the recent deal between Iran and the Western powers, weighing on crude oil prices and on the CAD as consequence.
USD/CAD key levels
At the moment the pair is up 0.14% at 1.2759 with the next hurdle at 1.2809 (high Jul.14) ahead of 1.2835 (2015 high Mar.18) and then 1.2900 (psychological level). On the downside, a break below 1.2716 (low Jul.14) would open the door to 1.2680 (low Jul.13) and finally 1.2662 (low Jul.10).