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14 May 2015
USD/CAD in red around 1.1950
FXStreet (Edinburgh) - The greenback is trading on the defensive vs. its Canadian counterpart on Thursday, dragging USD/CAD to the mid-1.1900s.
USD/CAD focus on data, BoC
The pair is now extending the recent break below the psychological mark at 1.2000, ahead of the US and CAD data due later. Initial Claims are expected at 275K in the week ended on May 8th while Producer Prices are seen advancing 0.2% on a monthly basis in April.
On the Canadian side, the semi-annual BoC Review will take centre stage ahead of the speech by BoC Deputy Governor L.Patterson, albeit their impact on markets should be limited, if any.
USD/CAD levels to watch
At the moment the pair is losing 0.07% at 1.1949 and a breakdown of 1.1918 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).
USD/CAD focus on data, BoC
The pair is now extending the recent break below the psychological mark at 1.2000, ahead of the US and CAD data due later. Initial Claims are expected at 275K in the week ended on May 8th while Producer Prices are seen advancing 0.2% on a monthly basis in April.
On the Canadian side, the semi-annual BoC Review will take centre stage ahead of the speech by BoC Deputy Governor L.Patterson, albeit their impact on markets should be limited, if any.
USD/CAD levels to watch
At the moment the pair is losing 0.07% at 1.1949 and a breakdown of 1.1918 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).