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19 Mar 2015
USD/CAD consolidating around 1.2750
FXStreet (Edinburgh) - The greenback is now looking to consolidate today’s gains vs. the Canadian dollar, with USD/CAD sidelining around 1.2750.
USD/CAD attention to CAD data
The pair quickly shrugged off the selling pressure post-Yellen’s presser on Wednesday, bouncing off the mid-1.2400s and regaining over 3 big-figures so far. The renewed strength around the greenback combined with another drop in crude oil prices punished the Canadian dollar, surrendering weekly gains.
Looking to Friday’s docket, the only releases in the NA session will be January’s retail sales (-0.7% MoM) and the critical inflation figures in Canada. Prior surveys expect consumer prices to have risen 1.0% on a year to February; BoC’s Core prices are expected at 2.1% YoY.
USD/CAD levels to consider
The pair is now advancing 1.37% at 1.2737 with the next resistance at 1.2750 (low Mar.17) ahead of 1.2800 (psychological level) and then 1.2835 (2015 high Mar.18). On the flip side, a breach of 1.2507 (low Mar.19) would open the door to 1.2449 (low Mar.18) and finally 1.2431 (cloud top).
USD/CAD attention to CAD data
The pair quickly shrugged off the selling pressure post-Yellen’s presser on Wednesday, bouncing off the mid-1.2400s and regaining over 3 big-figures so far. The renewed strength around the greenback combined with another drop in crude oil prices punished the Canadian dollar, surrendering weekly gains.
Looking to Friday’s docket, the only releases in the NA session will be January’s retail sales (-0.7% MoM) and the critical inflation figures in Canada. Prior surveys expect consumer prices to have risen 1.0% on a year to February; BoC’s Core prices are expected at 2.1% YoY.
USD/CAD levels to consider
The pair is now advancing 1.37% at 1.2737 with the next resistance at 1.2750 (low Mar.17) ahead of 1.2800 (psychological level) and then 1.2835 (2015 high Mar.18). On the flip side, a breach of 1.2507 (low Mar.19) would open the door to 1.2449 (low Mar.18) and finally 1.2431 (cloud top).