2 Feb 2015
USD/CAD accelerates below 1.2700
FXStreet (Edinburgh) - The weakness in the US dollar is intensifying vs. its Canadian counterpart on Monday, dragging USD/CAD to the 1.2650/40 band.
USD/CAD weaker post-US calendar
The pair is navigating session lows around the mid-1.2600s following the mixed results during December in the US economy, where Personal Income and Personal Spending posted opposite readings, gaining 0.3% and contracting 0.3%, respectively. In the same direction, consumer prices measured by the headline PCE rose 0.7% on a yearly basis and the Core PCE advanced 1.3% YoY.
Ahead in the session, Canadian manufacturing PMI gauged by RBC is due followed by Markit’s manufacturing PMI and the ISM Manufacturing.
USD/CAD significant levels
As of writing the pair is retreating 0.52% at 1.2643 and a breach of 1.2608 (low Jan.30) would aim for 1.2600 (psychological level) and then 1.2512 (low Jan.29). On the upside, the initial hurdle lines up at 1.2772 (high Feb.2) followed by 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009).
USD/CAD weaker post-US calendar
The pair is navigating session lows around the mid-1.2600s following the mixed results during December in the US economy, where Personal Income and Personal Spending posted opposite readings, gaining 0.3% and contracting 0.3%, respectively. In the same direction, consumer prices measured by the headline PCE rose 0.7% on a yearly basis and the Core PCE advanced 1.3% YoY.
Ahead in the session, Canadian manufacturing PMI gauged by RBC is due followed by Markit’s manufacturing PMI and the ISM Manufacturing.
USD/CAD significant levels
As of writing the pair is retreating 0.52% at 1.2643 and a breach of 1.2608 (low Jan.30) would aim for 1.2600 (psychological level) and then 1.2512 (low Jan.29). On the upside, the initial hurdle lines up at 1.2772 (high Feb.2) followed by 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009).