27 Feb 2015
USD/CAD climbs to 1.2480 on US GDP
FXStreet (Edinburgh) - The greenback is now picking up pace vs. the Canadian dollar, lifting USD/CAD back to the 1.2480 area.
USD/CAD rebounds after US data
The pair is looking to extend the current bounce beyond the 1.2480 level after the second revision of the US GDP figures came in above expectations today. The US economy expanded at an annual pace of 2.2% vs. 2.1% expected and 2.6% previous. Further data showed inflation figures gauged by the PCE contracting 0.4% inter-quarter during the same period; Core PCE rose 1.1%, matching forecasts.
USD/CAD levels to consider
The pair is now down 0.36% at 1.2481 and a breach of 1.2388 (low Feb.26) would allow 1.2360 (low Feb.17) and then 1.2353 (low Feb.3). On the flip side, the initial up barrier lines up at 1.2535 (high Feb.25) followed by 1.2600 (psychological level) and finally 1.2662 (high Feb.24).
USD/CAD rebounds after US data
The pair is looking to extend the current bounce beyond the 1.2480 level after the second revision of the US GDP figures came in above expectations today. The US economy expanded at an annual pace of 2.2% vs. 2.1% expected and 2.6% previous. Further data showed inflation figures gauged by the PCE contracting 0.4% inter-quarter during the same period; Core PCE rose 1.1%, matching forecasts.
USD/CAD levels to consider
The pair is now down 0.36% at 1.2481 and a breach of 1.2388 (low Feb.26) would allow 1.2360 (low Feb.17) and then 1.2353 (low Feb.3). On the flip side, the initial up barrier lines up at 1.2535 (high Feb.25) followed by 1.2600 (psychological level) and finally 1.2662 (high Feb.24).