Back
26 Feb 2015
USD/CAD pierces 1.2400
FXStreet (Edinburgh) - The Canadian dollar continues to appreciate vs. the US dollar on Thursday, dragging USD/CAD briefly to the 1.2390 area.
USD/CAD focus on US, CAD docket
In the context of a generalized USD weakness, the pair will remain under pressure in light of the critical consumer prices release in the US and Canada. Other relevant publications today comprise Durable Goods Orders and the weekly report on the US labour market, with Initial Claims expected at 290K in the week ended on February 20th.
Consensus points to US CPI to have contracted 0.1% on a year to January, while Canadian prices would have risen 0.7% over the last twelve months.
USD/CAD levels to consider
The pair is now retreating 0.16% at 1.2405 and a breakdown of 1.2360 (low Feb.17) would aim for 1.2353 (low Feb.3) and finally 1.2286 (23.6% of 1.0620-1.2800). On the other hand, the immediate hurdle aligns at 1.2498 (high Feb.27) ahead of 1.2511 (Tenkan Sen) and finally 1.2600 (psychological level).
USD/CAD focus on US, CAD docket
In the context of a generalized USD weakness, the pair will remain under pressure in light of the critical consumer prices release in the US and Canada. Other relevant publications today comprise Durable Goods Orders and the weekly report on the US labour market, with Initial Claims expected at 290K in the week ended on February 20th.
Consensus points to US CPI to have contracted 0.1% on a year to January, while Canadian prices would have risen 0.7% over the last twelve months.
USD/CAD levels to consider
The pair is now retreating 0.16% at 1.2405 and a breakdown of 1.2360 (low Feb.17) would aim for 1.2353 (low Feb.3) and finally 1.2286 (23.6% of 1.0620-1.2800). On the other hand, the immediate hurdle aligns at 1.2498 (high Feb.27) ahead of 1.2511 (Tenkan Sen) and finally 1.2600 (psychological level).