19 Aug 2015
USD/CAD prints highs near 1.3070
FXStreet (Edinburgh) - The greenback has now reverted the initial negative tone vs. its Canadian peer, lifting USD/CAD to daily highs in the vicinity of 1.3070.
USD/CAD focus on US CPI, FOMC
The pair is recovering part of Tuesday’s pullback after the Canadian dollar generated further traction in response to a recovery in crude oil prices, dragging the pair lower.
Ahead in the session, empty docket in Canada will leave all the attention to the US releases, with inflation figures tracked by the CPI and the FOMC minutes stealing the show. Consensus sees core consumer prices advancing 1.8% on an annualized basis, while headline CPI is expected at 0.2% on a year to July, a tad higher than June’s 0.1%.
USD/CAD levels to consider
At the moment the pair is advancing 0.09% at 1.3071 with the next hurdle at 1.3159 (high Aug.12) ahead of 1.3183 (high Aug.10) and then 1.3197 (high Aug.6). On the other hand, a breakdown of 1.3022 (low Aug.19) would open the door to 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13).
USD/CAD focus on US CPI, FOMC
The pair is recovering part of Tuesday’s pullback after the Canadian dollar generated further traction in response to a recovery in crude oil prices, dragging the pair lower.
Ahead in the session, empty docket in Canada will leave all the attention to the US releases, with inflation figures tracked by the CPI and the FOMC minutes stealing the show. Consensus sees core consumer prices advancing 1.8% on an annualized basis, while headline CPI is expected at 0.2% on a year to July, a tad higher than June’s 0.1%.
USD/CAD levels to consider
At the moment the pair is advancing 0.09% at 1.3071 with the next hurdle at 1.3159 (high Aug.12) ahead of 1.3183 (high Aug.10) and then 1.3197 (high Aug.6). On the other hand, a breakdown of 1.3022 (low Aug.19) would open the door to 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13).