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17 Apr 2015
USD/CAD pierced 1.2100 on data
FXStreet (Edinburgh) - The Canadian dollar is advancing further on Thursday, sending USD/CAD to briefly test sub-1.2100 levels.
USD/CAD in multi-week lows
Spot is trading in levels last seen in late January after Canadian Retail Sales surprised investors to the upside in February, expanding 1.7% MoM and 2.0% MoM excluding Autos. Canadian consumer prices followed suit, rising at an annual pace of 1.2% while the BoC Core print rose 2.4% on a yearly basis.
In the US calendar, headline CPI contracted 0.1% on a year to March, while Core prices surpassed expectations rising 1.8% YoY. Next on tap will be the CB Leading Indicator and the preliminary gauge of the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is losing 0.55% at 1.2122 and a breakdown of 1.2085 (low Apr.17) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2250 (high Apr.17) ahead of 1.2350 (38.2% of 1.1565-1.2835) and then 1.2353 (low Feb.3).
USD/CAD in multi-week lows
Spot is trading in levels last seen in late January after Canadian Retail Sales surprised investors to the upside in February, expanding 1.7% MoM and 2.0% MoM excluding Autos. Canadian consumer prices followed suit, rising at an annual pace of 1.2% while the BoC Core print rose 2.4% on a yearly basis.
In the US calendar, headline CPI contracted 0.1% on a year to March, while Core prices surpassed expectations rising 1.8% YoY. Next on tap will be the CB Leading Indicator and the preliminary gauge of the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is losing 0.55% at 1.2122 and a breakdown of 1.2085 (low Apr.17) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2250 (high Apr.17) ahead of 1.2350 (38.2% of 1.1565-1.2835) and then 1.2353 (low Feb.3).