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1 Sep 2015
USD/CAD within range on data
FXStreet (Edinburgh) - The Canadian dollar remains apathetic vs. its neighbour, with USD/CAD around 1.3140 in the wake of Canadian releases.
USD/CAD softer post-CAD data
The pair kept the composure despite the better-than-expected print from the Canadian GDP figures, showing that the domestic economy has expanded 0.5% inter-month during June, vs. forecasts for a 0.2% advance and May’s 0.2% contraction. On an annualized basis, the economy contracted less than forecasted, 0.5%.
Next of relevance for the pair will be US ISM Manufacturing and Markit’s Manufacturing PMI, ahead of the less relevant Construction Spending.
USD/CAD levels to consider
At the moment the pair is advancing 0.01% at 1.3141 facing the next resistance at 1.3235 (high Sep.1) followed by 1.3295 (high Aug.27) and finally 1.3343 (high Aug.26). On the other hand, a break below 1.3116 (low Aug.31) would open the door to 1.3056 (low Aug.21) and then 1.3024 (low Aug.19).
USD/CAD softer post-CAD data
The pair kept the composure despite the better-than-expected print from the Canadian GDP figures, showing that the domestic economy has expanded 0.5% inter-month during June, vs. forecasts for a 0.2% advance and May’s 0.2% contraction. On an annualized basis, the economy contracted less than forecasted, 0.5%.
Next of relevance for the pair will be US ISM Manufacturing and Markit’s Manufacturing PMI, ahead of the less relevant Construction Spending.
USD/CAD levels to consider
At the moment the pair is advancing 0.01% at 1.3141 facing the next resistance at 1.3235 (high Sep.1) followed by 1.3295 (high Aug.27) and finally 1.3343 (high Aug.26). On the other hand, a break below 1.3116 (low Aug.31) would open the door to 1.3056 (low Aug.21) and then 1.3024 (low Aug.19).