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26 Feb 2015
USD/CAD in highs above 1.2500
FXStreet (Edinburgh) - The upbeat momentum in the US dollar is now lifting USD/CAD beyond the 1.2500 handle, or fresh intraday tops.
USD/CAD follows the dollar
It is all about the US dollar now. The pair is advancing more than a big-figure since it dropped to session lows in the vicinity of 1.2380 during the European afternoon. The positive readings from the US docket today - with both CPI and Durable Goods Orders surpassing forecasts - eclipsed any CAD strength following the equally strong consumer prices in Canada during January.
Empty docket in Canada tomorrow will leave all the attention to the US publications: Reuters/Michigan index, Pending Home Sales, Chicago PMI and speeches by Fed’s Fischer and Dudley.
USD/CAD levels to consider
The pair is now up 0.79% at 1.2524 with the next barrier at 1.2600 (psychological level). On the downside, a breach of 1.2388 (low Feb.26) would allow 1.2360 (low Feb.17) and then 1.2353 (low Feb.3).
USD/CAD follows the dollar
It is all about the US dollar now. The pair is advancing more than a big-figure since it dropped to session lows in the vicinity of 1.2380 during the European afternoon. The positive readings from the US docket today - with both CPI and Durable Goods Orders surpassing forecasts - eclipsed any CAD strength following the equally strong consumer prices in Canada during January.
Empty docket in Canada tomorrow will leave all the attention to the US publications: Reuters/Michigan index, Pending Home Sales, Chicago PMI and speeches by Fed’s Fischer and Dudley.
USD/CAD levels to consider
The pair is now up 0.79% at 1.2524 with the next barrier at 1.2600 (psychological level). On the downside, a breach of 1.2388 (low Feb.26) would allow 1.2360 (low Feb.17) and then 1.2353 (low Feb.3).