12 Feb 2016
USD/CAD shoots to 1.3960 on US data
The Canadian dollar is accelerating its decline vs. the dollar today, with USD/CAD regaining the 1.3960 area so far.
USD/CAD stronger post-data
The pair pushed higher after US Retail Sales have surprised markets to the upside, expanding at a monthly pace 0.2% during January vs. 0.1% expected. Sales without the Auto sector have matched estimates gaining 0.1% while Retail Control rose 0.6%, surpassing consensus and reverting December’s 0.3% drop.
Further data saw both Exports and Imports Prices coming in above initial forecasts, while the Reuters/Michigan index is expected later.
USD/CAD significant levels
As of writing the pair is up 0.38% at 1.3946 and a surpass of 1.4077 (20-day sma) would expose 1.4103 (high Feb.3) and then 1.4327 (high Jan.26). On the other hand, the next support aligns at 1.3635 (low Feb.4) ahead of 1.3593 (100-day sma) and finally 1.3189 (200-day sma).
USD/CAD stronger post-data
The pair pushed higher after US Retail Sales have surprised markets to the upside, expanding at a monthly pace 0.2% during January vs. 0.1% expected. Sales without the Auto sector have matched estimates gaining 0.1% while Retail Control rose 0.6%, surpassing consensus and reverting December’s 0.3% drop.
Further data saw both Exports and Imports Prices coming in above initial forecasts, while the Reuters/Michigan index is expected later.
USD/CAD significant levels
As of writing the pair is up 0.38% at 1.3946 and a surpass of 1.4077 (20-day sma) would expose 1.4103 (high Feb.3) and then 1.4327 (high Jan.26). On the other hand, the next support aligns at 1.3635 (low Feb.4) ahead of 1.3593 (100-day sma) and finally 1.3189 (200-day sma).