19 Jan 2015
USD/CAD capped by 1.1980
FXStreet (Edinburgh) - The greenback is taking a breather on Monday, sending USD/CAD to the 1.1960/65 area so far.
USD/CAD eyes on BoC
The inactivity in the US markets due to the Martin Luther King’s holiday will relegate spot to trade in a tight range, although attention will slowly turn to the BoC meeting on Wednesday, followed by the press conference by Governor S.Poloz. Despite prior surveys expect no changes in the monetary policy, it will be interesting to hear the central bank’s assessment of the current scenario of lower oil prices and its influence on the CAD and the prospects for the domestic economy. Today’s only release in Canada will be the Portfolio Investment positions.
USD/CAD important levels
At the moment the pair is up 0.03% at 1.1970 with the next resistance at 1.2000 (psychological level) ahead of 1.2017 (high Jan.14) and then 1.2046 (2015 high Jan.16). On the flip side, a breach of 1.1873 (Tenkan Sen) would aim for 1.1836 (low Jan.12) and finally 1.1805 (low Jan.9).
USD/CAD eyes on BoC
The inactivity in the US markets due to the Martin Luther King’s holiday will relegate spot to trade in a tight range, although attention will slowly turn to the BoC meeting on Wednesday, followed by the press conference by Governor S.Poloz. Despite prior surveys expect no changes in the monetary policy, it will be interesting to hear the central bank’s assessment of the current scenario of lower oil prices and its influence on the CAD and the prospects for the domestic economy. Today’s only release in Canada will be the Portfolio Investment positions.
USD/CAD important levels
At the moment the pair is up 0.03% at 1.1970 with the next resistance at 1.2000 (psychological level) ahead of 1.2017 (high Jan.14) and then 1.2046 (2015 high Jan.16). On the flip side, a breach of 1.1873 (Tenkan Sen) would aim for 1.1836 (low Jan.12) and finally 1.1805 (low Jan.9).