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20 Apr 2015
USD/CAD off highs, back to 1.2240
FXStreet (Edinburgh) - The greenback is extending its upside momentum vs. its Canadian peer on Monday,with USD/CAD now deflating from 1.2260 to the 1.2240 area.
USD/CAD focus on Poloz
Absent relevant data releases in the US and Canadian economies, the risk appetite trends will continue to drive the pair’s price action almost exclusively. However, the speech by BoC S.Poloz due later could add some volatility to the pair.
In the data space, the National Activity index tracked by the Chicago Fed came in at -0.42 for the month of March, down from February’s -0.18. In addition, Fed’s Dudley argued that a rates lift-off remains data dependent, and the current weakness should be temporary.
USD/CAD significant levels
At the moment the pair is losing 0.04% at 1.2239 and a breakdown of 1.2100 (psychological level) would aim for 1.2087 (low Apr.17) and finally 1.2062 (high Jan.19). On the upside, the initial hurdle lines up at 1.2261 (high Apr.20) followed by 1.2272 (high Apr.17) and then 1.2300 (psychological level).
USD/CAD focus on Poloz
Absent relevant data releases in the US and Canadian economies, the risk appetite trends will continue to drive the pair’s price action almost exclusively. However, the speech by BoC S.Poloz due later could add some volatility to the pair.
In the data space, the National Activity index tracked by the Chicago Fed came in at -0.42 for the month of March, down from February’s -0.18. In addition, Fed’s Dudley argued that a rates lift-off remains data dependent, and the current weakness should be temporary.
USD/CAD significant levels
At the moment the pair is losing 0.04% at 1.2239 and a breakdown of 1.2100 (psychological level) would aim for 1.2087 (low Apr.17) and finally 1.2062 (high Jan.19). On the upside, the initial hurdle lines up at 1.2261 (high Apr.20) followed by 1.2272 (high Apr.17) and then 1.2300 (psychological level).