20 Mar 2015
USD/CAD through 1.2700 post-CPI
FXStreet (Edinburgh) - The renewed weakness around the Canadian dollar is allowing the current rebound in USD/CAD beyond the 1.2700 handle.
USD/CAD firmer on CAD data
The pair has recovered ground towards the low-1.2700s after Canadian consumer prices matched expectations during February: headline CPI rose at an annual pace of 1% while the BoC Core gauge advanced 2.1% over the last twelve months. Adding to the selling pressure in the Canadian dollar, headline retail sales and sales excluding the Autos sector contracted further than forecasted during January, 1.7% and 1.8%, respectively.
USD/CAD levels to watch
As of writing the pair is down 0.11% at 1.2703 with the next support at 1.2628 (50% of 0.9059-1.6197) followed by 1.2507 (low Mar.19) and then 1.2449 (low Mar.18). On the flip side, a break out of 1.2750 (low Mar.17) would aim for 1.2800 (psychological level) and finally 1.2835 (2015 high Mar.18).
USD/CAD firmer on CAD data
The pair has recovered ground towards the low-1.2700s after Canadian consumer prices matched expectations during February: headline CPI rose at an annual pace of 1% while the BoC Core gauge advanced 2.1% over the last twelve months. Adding to the selling pressure in the Canadian dollar, headline retail sales and sales excluding the Autos sector contracted further than forecasted during January, 1.7% and 1.8%, respectively.
USD/CAD levels to watch
As of writing the pair is down 0.11% at 1.2703 with the next support at 1.2628 (50% of 0.9059-1.6197) followed by 1.2507 (low Mar.19) and then 1.2449 (low Mar.18). On the flip side, a break out of 1.2750 (low Mar.17) would aim for 1.2800 (psychological level) and finally 1.2835 (2015 high Mar.18).