30 Apr 2015
USD/CAD extends the upside, 1.2100 eyed
FXStreet (Edinburgh) - The US dollar keeps advancing vs. its main rivals on Thursday, now lifting USD/CAD to the boundaries of 1.2080.
USD/CAD firmer post data
The pair is gaining further steam following the auspicious releases in the US labour market, where Initial Claims dropped more than estimated, somehow snapping the recent negative streak of results in the US economy. Today’s data add to the balanced tone from the FOMC in its meeting on Wednesday, all supporting the greenback so far.
Moving to Friday’s docket, the final manufacturing PMIs are due in both economies, while the Reuters/Michigan index, Construction Spending and the speech by Williams will complete the US calendar.
USD/CAD significant levels
At the moment the pair is up 0.39% at 1.2067 and a surpass of 1.2074 (high Apr.29) would open the door to 1.2116 (high Apr.28) and finally 1.2205 (high Apr.27). On the downside, the immediate support aligns at 1.1998 (low Apr.30) ahead of 1.1945 (low Apr.29) and then 1.1940 (low Jan.20).
USD/CAD firmer post data
The pair is gaining further steam following the auspicious releases in the US labour market, where Initial Claims dropped more than estimated, somehow snapping the recent negative streak of results in the US economy. Today’s data add to the balanced tone from the FOMC in its meeting on Wednesday, all supporting the greenback so far.
Moving to Friday’s docket, the final manufacturing PMIs are due in both economies, while the Reuters/Michigan index, Construction Spending and the speech by Williams will complete the US calendar.
USD/CAD significant levels
At the moment the pair is up 0.39% at 1.2067 and a surpass of 1.2074 (high Apr.29) would open the door to 1.2116 (high Apr.28) and finally 1.2205 (high Apr.27). On the downside, the immediate support aligns at 1.1998 (low Apr.30) ahead of 1.1945 (low Apr.29) and then 1.1940 (low Jan.20).