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17 Jul 2015
USD/CAD firmer, eyes 1.3000
FXStreet (Edinburgh) - The Canadian dollar continues to lose ground vs. its American neighbor on Friday, pushing USD/CAD to the area of recent tops near 1.2980.
USD/CAD focus on US, CAD data
The upside in the pair remains unabated today, advancing for the fourth consecutive week and posting fresh multi-year peaks near the psychological mark at 1.3000. The ongoing upbeat momentum will be put to the test later however, as both Canada and the US economy will release key inflation figures for the last month.
Cad weakness remains intact following the recent rate cut by the BoC and lower crude oil prices, whereas the greenback has been boosted by positive results and a hawkish tone by Chair Yellen in recent testimonies.
USD/CAD key levels
At the moment the pair is up 0.17% at 1.2980 with the next hurdle at 1.3000 (psychological level). On the downside, a break below 1.2945 (low Jul17) would expose 1.2805 (high Jul.14) and finally 1.2728 (low Jul.15).
USD/CAD focus on US, CAD data
The upside in the pair remains unabated today, advancing for the fourth consecutive week and posting fresh multi-year peaks near the psychological mark at 1.3000. The ongoing upbeat momentum will be put to the test later however, as both Canada and the US economy will release key inflation figures for the last month.
Cad weakness remains intact following the recent rate cut by the BoC and lower crude oil prices, whereas the greenback has been boosted by positive results and a hawkish tone by Chair Yellen in recent testimonies.
USD/CAD key levels
At the moment the pair is up 0.17% at 1.2980 with the next hurdle at 1.3000 (psychological level). On the downside, a break below 1.2945 (low Jul17) would expose 1.2805 (high Jul.14) and finally 1.2728 (low Jul.15).