2 Feb 2015
USD/CAD drops to lows around 1.2560
FXStreet (Edinburgh) - The greenback continues to shed ground vs. the Canadian dollar on Monday, with USD/CAD now navigating around 1.2565/60.
USD/CAD weaker post-data
The pair is suffering the mixed results from both the US and Canadian dockets today, where the manufacturing sector was in the spotlight: Markit’s PMI came in unchanged for the present month while the key ISM eased to 53.5 vs. 55.5 previous and 54.5 expected. In Canada, the PMI tracked by RBC dropped to 51.0 from 53.9 during the same period.
The renewed bid tone around the CAD came along the recovery from the crude oil prices, with the barrel of WTI briefly surpassing the $50.00/bbl mark.
USD/CAD significant levels
As of writing the pair is retreating 1.15% at 1.2563 and a break below 1.2512 (low Jan.29) would aim for 1.2431 (Tenkan Sen) and finally 1.2390 (low Jan.28). On the upside, the initial hurdle lines up at 1.2772 (high Feb.2) followed by 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009).
USD/CAD weaker post-data
The pair is suffering the mixed results from both the US and Canadian dockets today, where the manufacturing sector was in the spotlight: Markit’s PMI came in unchanged for the present month while the key ISM eased to 53.5 vs. 55.5 previous and 54.5 expected. In Canada, the PMI tracked by RBC dropped to 51.0 from 53.9 during the same period.
The renewed bid tone around the CAD came along the recovery from the crude oil prices, with the barrel of WTI briefly surpassing the $50.00/bbl mark.
USD/CAD significant levels
As of writing the pair is retreating 1.15% at 1.2563 and a break below 1.2512 (low Jan.29) would aim for 1.2431 (Tenkan Sen) and finally 1.2390 (low Jan.28). On the upside, the initial hurdle lines up at 1.2772 (high Feb.2) followed by 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009).