24 Jun 2015
USD/CAD toying with 1.2400
FXStreet (Edinburgh) - The US dollar continues to appreciate vs. its Canadian counterpart on Wednesday, lifting USD/CAD to fresh tops above 1.2400 the figure.
USD/CAD in 2-week peaks
The greenback keeps pushing higher during the first half of the week, bolstered by the risk-aversion sentiment stemming from the Greek front. The pair has managed to successfully clinch the 1.2400 area backed by recent positive results in the US calendar and a hawkish tone from Fed members, like Powell’s yesterday, favouring a rate hike as early as September.
There are no scheduled data releases in Canada for the rest of the week, whereas US Initial Claims, Personal Income/Spending and Markit’s Service PMI are due tomorrow, ahead of the Reuters/Michigan index and Fed’s E.George speech on Friday.
USD/CAD levels to watch
At the moment the pair is gaining 0.54% at 1.2393 with the next hurdle at 1.2424 (high Jun.24) followed by 1.2442 (high Jun.9) and finally 1.2472 (high Jun.8). On the other hand, a breakdown of 1.2276 (low Jun.24) would aim for 1.2218 (low Jun.22) and then 1.2216 (low Jun.19).
USD/CAD in 2-week peaks
The greenback keeps pushing higher during the first half of the week, bolstered by the risk-aversion sentiment stemming from the Greek front. The pair has managed to successfully clinch the 1.2400 area backed by recent positive results in the US calendar and a hawkish tone from Fed members, like Powell’s yesterday, favouring a rate hike as early as September.
There are no scheduled data releases in Canada for the rest of the week, whereas US Initial Claims, Personal Income/Spending and Markit’s Service PMI are due tomorrow, ahead of the Reuters/Michigan index and Fed’s E.George speech on Friday.
USD/CAD levels to watch
At the moment the pair is gaining 0.54% at 1.2393 with the next hurdle at 1.2424 (high Jun.24) followed by 1.2442 (high Jun.9) and finally 1.2472 (high Jun.8). On the other hand, a breakdown of 1.2276 (low Jun.24) would aim for 1.2218 (low Jun.22) and then 1.2216 (low Jun.19).