18 Feb 2015
USD/CAD off highs after data
FXStreet (Edinburgh) - The US dollar is giving away part of recent gains vs. the CAD, taking USD/CAD to the area of 1.2430.
USD/CAD eyes on Fed
Data for the month of January was far from supportive of the greenback, showing producer prices and housing sector releases missing expectations. Next of note will be the Capacity Utilization (79.9% exp.) and Industrial Production (0.3% exp.) followed by the FOMC minutes.
On the other side of the border, Canadian Wholesale Sales jumped 2.5% on a monthly basis in December, leaving behind estimates (0.3%) and November’s print (-0.3%).
USD/CAD key levels
As of writing the pair is advancing 0.51% at 1.2437 and a surpass of 1.2480 (high Feb.17) would open the door to 1.2493 (21-d MA) and then 1.2529 (Tenkan Sen). On the flip side, the immediate support lines up at 1.2360 (low Feb.17) ahead of 1.2353 (low Feb.3) and finally 1.2302 (Kijun Sen).
USD/CAD eyes on Fed
Data for the month of January was far from supportive of the greenback, showing producer prices and housing sector releases missing expectations. Next of note will be the Capacity Utilization (79.9% exp.) and Industrial Production (0.3% exp.) followed by the FOMC minutes.
On the other side of the border, Canadian Wholesale Sales jumped 2.5% on a monthly basis in December, leaving behind estimates (0.3%) and November’s print (-0.3%).
USD/CAD key levels
As of writing the pair is advancing 0.51% at 1.2437 and a surpass of 1.2480 (high Feb.17) would open the door to 1.2493 (21-d MA) and then 1.2529 (Tenkan Sen). On the flip side, the immediate support lines up at 1.2360 (low Feb.17) ahead of 1.2353 (low Feb.3) and finally 1.2302 (Kijun Sen).