4 Aug 2015
USD/CAD retreats from 1.3180
FXStreet (Edinburgh) - After hitting fresh cycle highs around 1.3180 during the Asian trading hours, USD/CAD has returned to the 1.3130 area ahead of US data.
USD/CAD attention to US, CAD data
The pair is momentarily snapping a 4-session positive streak following the offered tone around the greenback, which is advancing from last week’s lows in the mid-1.2800s.
The persistent weakness around crude oil prices has been heavily weighing on the Canadian dollar as of late, along with the bearish perspectives of the economy, all lifting spot to fresh multi-year tops near 1.3200 the figure overnight.
Next of relevance in the pair will be US Factory Orders – expected at 1.8% MoM in June – and Canadian Manufacturing PMI gauged by RBC.
USD/CAD relevant levels
At the moment the pair is retreating 0.22% at 1.3126 with the immediate support at 1.3103 (low Aug.4) ahead of 1.2940 (low Jul.31) and then 1.2861 (low Jul.29). On the flip side, a breakout of 1.3176 (high Aug.4) would open the door to 1.3200 (psychological level).
USD/CAD attention to US, CAD data
The pair is momentarily snapping a 4-session positive streak following the offered tone around the greenback, which is advancing from last week’s lows in the mid-1.2800s.
The persistent weakness around crude oil prices has been heavily weighing on the Canadian dollar as of late, along with the bearish perspectives of the economy, all lifting spot to fresh multi-year tops near 1.3200 the figure overnight.
Next of relevance in the pair will be US Factory Orders – expected at 1.8% MoM in June – and Canadian Manufacturing PMI gauged by RBC.
USD/CAD relevant levels
At the moment the pair is retreating 0.22% at 1.3126 with the immediate support at 1.3103 (low Aug.4) ahead of 1.2940 (low Jul.31) and then 1.2861 (low Jul.29). On the flip side, a breakout of 1.3176 (high Aug.4) would open the door to 1.3200 (psychological level).