20 Mar 2015
USD/CAD keeps lows around 1.2680
FXStreet (Edinburgh) - The greenback is trading on the back footing vs. the Canadian dollar on Friday, with USD/CAD consolidating around 1.2680.
USD/CAD focus on CPI data
The pair is looking to consolidate the rebound post-FOMC in the area of 1.2450 on Wednesday, although gains seem so far capped by he mid-1.2700s so far. Ahead in the session, critical Canadian inflation figures and retail sales are due, with consensus expecting consumer prices to have risen 1% on a year to February while the BoC Core gauge would come at 2.1% on a yearly basis. In addition, headline retail sales would have contracted -0.7% from December to January.
USD/CAD levels to watch
As of writing the pair is down 0.26% at 1.2683 with the next support at 1.2628 (50% of 0.9059-1.6197) followed by 1.2507 (low Mar.19) and then 1.2449 (low Mar.18). On the flip side, a break out of 1.2750 (low Mar.17) would aim for 1.2800 (psychological level) and finally 1.2835 (2015 high Mar.18).
USD/CAD focus on CPI data
The pair is looking to consolidate the rebound post-FOMC in the area of 1.2450 on Wednesday, although gains seem so far capped by he mid-1.2700s so far. Ahead in the session, critical Canadian inflation figures and retail sales are due, with consensus expecting consumer prices to have risen 1% on a year to February while the BoC Core gauge would come at 2.1% on a yearly basis. In addition, headline retail sales would have contracted -0.7% from December to January.
USD/CAD levels to watch
As of writing the pair is down 0.26% at 1.2683 with the next support at 1.2628 (50% of 0.9059-1.6197) followed by 1.2507 (low Mar.19) and then 1.2449 (low Mar.18). On the flip side, a break out of 1.2750 (low Mar.17) would aim for 1.2800 (psychological level) and finally 1.2835 (2015 high Mar.18).