8 Jun 2015
USD/CAD dips to lows near 1.2400
FXStreet (Edinburgh) - The Canadian dollar is appreciating vs. its American counterpart on Monday, sending USD/CAD to the vicinity of 1.2400 the figure.
USD/CAD weaker on CAD data
The pair left the area of recent highs around 1.2560/70 post-Payrolls, deflating more than a big-figure along with a softer tone around the greenback. Spot eases further ground today following positive releases in the Canadian docket, with both Housing Starts (201.7K) and Building Permits (11.6%) surpassing estimates during May.
Next on tap in the pair will be the US Labour Market Conditions Index, ahead of the more relevant Retail Sales due on Thursday (1.1% MoM exp.).
USD/CAD key levels
At the moment the pair is retreating 0.28% at 1.2405 with the next support at 1.2390 (cloud top) followed by 1.2385 (low Jun.3) and finally 1.2368 (low Jun.2). On the upside, a break above 1.2564 (high Jun.5) would aim for 1.2570 (low Apr.15) and then 1.2603 (high Apr.14).
USD/CAD weaker on CAD data
The pair left the area of recent highs around 1.2560/70 post-Payrolls, deflating more than a big-figure along with a softer tone around the greenback. Spot eases further ground today following positive releases in the Canadian docket, with both Housing Starts (201.7K) and Building Permits (11.6%) surpassing estimates during May.
Next on tap in the pair will be the US Labour Market Conditions Index, ahead of the more relevant Retail Sales due on Thursday (1.1% MoM exp.).
USD/CAD key levels
At the moment the pair is retreating 0.28% at 1.2405 with the next support at 1.2390 (cloud top) followed by 1.2385 (low Jun.3) and finally 1.2368 (low Jun.2). On the upside, a break above 1.2564 (high Jun.5) would aim for 1.2570 (low Apr.15) and then 1.2603 (high Apr.14).