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9 Sep 2015
USD/CAD firmer, clinches 1.3260
FXStreet (Edinburgh) - The Canadian dollar remains on the back footing vs. the greenback on Wednesday, now sending USD/CAD to daily tops near 1.3260.
USD/CAD stronger post-CAD data
The pair has managed to pick up further pace after Canadian Housing Starts climbed at a seasonally adjusted annual pace of 216.9K during August, surpassing both forecasts and the previous print. Further releases showed Building Permits contracting 0.6% on a monthly basis during July, reverting the 15.5% gain seen in the previous month.
Ahead in the day, the BoC will hold its monetary policy meeting although without a press conference by Governor S.Poloz. Consensus remains firm that the central bank will stay on the sidelines for the time being.
USD/CAD levels to consider
At the moment the pair is up 0.27% at 1.3245 and a break above 1.3310 (high Sep.8) would open the door to 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26). On the other hand, the immediate support aligns at 1.3176 (low Sep.9) followed by 1.3162 (low Sep.4) and then 1.3116 (low Aug.31).
USD/CAD stronger post-CAD data
The pair has managed to pick up further pace after Canadian Housing Starts climbed at a seasonally adjusted annual pace of 216.9K during August, surpassing both forecasts and the previous print. Further releases showed Building Permits contracting 0.6% on a monthly basis during July, reverting the 15.5% gain seen in the previous month.
Ahead in the day, the BoC will hold its monetary policy meeting although without a press conference by Governor S.Poloz. Consensus remains firm that the central bank will stay on the sidelines for the time being.
USD/CAD levels to consider
At the moment the pair is up 0.27% at 1.3245 and a break above 1.3310 (high Sep.8) would open the door to 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26). On the other hand, the immediate support aligns at 1.3176 (low Sep.9) followed by 1.3162 (low Sep.4) and then 1.3116 (low Aug.31).