13 Aug 2015
USD/CAD clinches highs near 1.3060
FXStreet (Edinburgh) - The greenback is appreciating further vs. its Canadian neighbour on Thursday, lifting USD/CAD to daily peaks near 1.3060.
USD/CAD firmer on US data
The pair’s upside gathered further steam after an auspicious print from US Retail Sales during July, advancing beyond expectations at a monthly pace of 0.6% vs. 0.5% initially forecasted. Core sales run the opposite direction, rising 0.4% MoM vs. 0.5% previously estimated.
Spot has managed to rebound from recent lows in the 1.2940 area following the sell off in the greenback after the PBoC devaluated the Yuan on Tuesday and Wednesday.
USD/CAD levels to consider
At the moment the pair is advancing 0.52% at 1.3045 with the next hurdle at 1.3066 (high Aug.13) ahead of 1.3159 (high Aug.12) and then 1.3183 (high Aug.10). On the other hand, a breakdown of 1.2957 (low Aug.13) would open the door to 1.2940 (low Jul.31) and finally 1.2911 (low Jul.28).
USD/CAD firmer on US data
The pair’s upside gathered further steam after an auspicious print from US Retail Sales during July, advancing beyond expectations at a monthly pace of 0.6% vs. 0.5% initially forecasted. Core sales run the opposite direction, rising 0.4% MoM vs. 0.5% previously estimated.
Spot has managed to rebound from recent lows in the 1.2940 area following the sell off in the greenback after the PBoC devaluated the Yuan on Tuesday and Wednesday.
USD/CAD levels to consider
At the moment the pair is advancing 0.52% at 1.3045 with the next hurdle at 1.3066 (high Aug.13) ahead of 1.3159 (high Aug.12) and then 1.3183 (high Aug.10). On the other hand, a breakdown of 1.2957 (low Aug.13) would open the door to 1.2940 (low Jul.31) and finally 1.2911 (low Jul.28).