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13 Mar 2015
USD/CAD consolidates above 1.2700
FXStreet (Edinburgh) - The US dollar has recovered its shine during the European morning, with USD/CAD now keeping the trade above the 1.2700 handle.
USD/CAD focus on CAD data
The pair is looking to recover part of the deep retracement on Thursday, when the offered tone in the greenback sent spot to test the 1.2600 neighbourhood. In addition, crude oil prices have resumed their downside exerting extra selling pressure on the Canadian dollar.
Ahead in the session, Canadian labour market data and the US Reuters/Michigan index are due. Prior surveys expect the employment in Canada to have decreased by 5K and the jobless rate to have ticked higher to 6.7% during February.
USD/CAD key levels
At the moment the pair is advancing 0.37% at 1.2733 and a breakout of 1.2772 (high Feb.2) would open the door to 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).
USD/CAD focus on CAD data
The pair is looking to recover part of the deep retracement on Thursday, when the offered tone in the greenback sent spot to test the 1.2600 neighbourhood. In addition, crude oil prices have resumed their downside exerting extra selling pressure on the Canadian dollar.
Ahead in the session, Canadian labour market data and the US Reuters/Michigan index are due. Prior surveys expect the employment in Canada to have decreased by 5K and the jobless rate to have ticked higher to 6.7% during February.
USD/CAD key levels
At the moment the pair is advancing 0.37% at 1.2733 and a breakout of 1.2772 (high Feb.2) would open the door to 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).