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12 Mar 2015
USD/CAD dips to 1.2620 on data
FXStreet (Edinburgh) - The greenback remains on the defensive camp on Thursday, now dragging USD/CAD to session lows around 1.2620.
USD/CAD weaker post-US calendar
The pair is extending its descent after overnight peaks around 1.2770 against a backdrop of a softer dollar in the global markets. Spot gained further selling momentum after disappointing data from the US retail sales, dropping 0.6% MoM in February and 0.1% excluding the Autos sector.
In the Canadian docket, New Housing Price Index contracted 0.1% in February and gained 1.4% on a yearly basis.
USD/CAD key levels
At the moment the pair is retreating 0.79% at 1.2648 with the next support at 1.2617 (low Mar.11) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9). On the upside, 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).
USD/CAD weaker post-US calendar
The pair is extending its descent after overnight peaks around 1.2770 against a backdrop of a softer dollar in the global markets. Spot gained further selling momentum after disappointing data from the US retail sales, dropping 0.6% MoM in February and 0.1% excluding the Autos sector.
In the Canadian docket, New Housing Price Index contracted 0.1% in February and gained 1.4% on a yearly basis.
USD/CAD key levels
At the moment the pair is retreating 0.79% at 1.2648 with the next support at 1.2617 (low Mar.11) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9). On the upside, 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).