13 May 2015
USD/CAD dips further to 1.1930
FXStreet (Edinburgh) - The greenback is now accelerating its intraday decline vs. its Canadian counterpart on Wednesday, dragging USD/CAD to test fresh lows in the 1.1930 region.
USD/CAD weaker on US retail sales
Spot saw its downside intensified after US retail sales missed estimates during April, coming in flat MoM and advancing just 0.1% excluding the Autos sector, vs. prior surveys at 0.2% and 0.5% respectively. The pair is trading in more than 2-month lows around 1.1940 soon after the release.
Next on tap will be US Export/Import Prices ahead of the weekly report on crude oil inventories by EIA.
USD/CAD levels to watch
At the moment the pair is losing 0.69% at 1.1935 and a breakdown of 1.1900 (psychological level) would aim for 1.1836 (low Jan.12) and finally 1.1805 (low Jan.9). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).
USD/CAD weaker on US retail sales
Spot saw its downside intensified after US retail sales missed estimates during April, coming in flat MoM and advancing just 0.1% excluding the Autos sector, vs. prior surveys at 0.2% and 0.5% respectively. The pair is trading in more than 2-month lows around 1.1940 soon after the release.
Next on tap will be US Export/Import Prices ahead of the weekly report on crude oil inventories by EIA.
USD/CAD levels to watch
At the moment the pair is losing 0.69% at 1.1935 and a breakdown of 1.1900 (psychological level) would aim for 1.1836 (low Jan.12) and finally 1.1805 (low Jan.9). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).