5 Mar 2015
USD/CAD capped by 1.2500
FXStreet (Edinburgh) - The US dollar remains buoyant on Thursday against its major rivals, with USD/CAD keeping the trade in the upper-1.2400s so far.
USD/CAD eased ground post data
The pair is retreating for the second consecutive week so far, although the area around 1.2400 the figure continues to offer solid support for the time being. Spot shed part of the initial gains after the poor results from the US Factory Orders, contracting 0.2% vs. forecasts for a 0.2% advance. In Canada, the PMI tracked by the Ivey Institute jumped to 50.8 during February from January’s 42.6.
Tomorrow will be a big day for the pair, as the US labour market will release its results for the last month. Consensus expects the US economy to have added 240K jobs during February, down from 257K in the previous month.
USD/CAD relevant levels
At the moment the pair is up 0.63% at 1.2494 with the next hurdle at 1.2501 (high Mar.5) followed by 1.2543 (high Mar.3) and then 1.2549 (high Mar.4). On the downside, a breach of 1.2407 (low Mar.4) would open the door to 1.2388 (low Feb.26) and finally 1.2360 (low Feb.17).
USD/CAD eased ground post data
The pair is retreating for the second consecutive week so far, although the area around 1.2400 the figure continues to offer solid support for the time being. Spot shed part of the initial gains after the poor results from the US Factory Orders, contracting 0.2% vs. forecasts for a 0.2% advance. In Canada, the PMI tracked by the Ivey Institute jumped to 50.8 during February from January’s 42.6.
Tomorrow will be a big day for the pair, as the US labour market will release its results for the last month. Consensus expects the US economy to have added 240K jobs during February, down from 257K in the previous month.
USD/CAD relevant levels
At the moment the pair is up 0.63% at 1.2494 with the next hurdle at 1.2501 (high Mar.5) followed by 1.2543 (high Mar.3) and then 1.2549 (high Mar.4). On the downside, a breach of 1.2407 (low Mar.4) would open the door to 1.2388 (low Feb.26) and finally 1.2360 (low Feb.17).