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2 Mar 2015
USD/CAD testing highs on CAD data
FXStreet (Edinburgh) - The Canadian dollar is depreciating further vs. its fellow neighbour on Monday, pushing USD/CAD to test daily highs around 1.2540.
USD/CAD firmer on CAD release
The selling pressure around the CAD picked up pace after the manufacturing PMI measured by RBC eased to 48.7 from 51.0 during February. Back to the US calendar, Markit’s manufacturing PMI surprised investors to the upside, advancing to 55.1 in February vs. prior surveys at 54.3 and January’s print at 53.9.
Next on tap will be the more significant ISM Manufacturing, Construction Spending and speeches by B. Bernanke and Philly Fed’s Plosser.
USD/CAD relevant levels
At the moment the pair is advancing 0.21% at 1.2530 with the initial hurdle at 1.2577 (Kijun Sen) followed by 1.2600 (psychological level). On the other hand, a drop below 1.2449 (low Feb.27) would open the door to 1.2388 (low Feb.26) and then 1.2360 (low Feb.17).
USD/CAD firmer on CAD release
The selling pressure around the CAD picked up pace after the manufacturing PMI measured by RBC eased to 48.7 from 51.0 during February. Back to the US calendar, Markit’s manufacturing PMI surprised investors to the upside, advancing to 55.1 in February vs. prior surveys at 54.3 and January’s print at 53.9.
Next on tap will be the more significant ISM Manufacturing, Construction Spending and speeches by B. Bernanke and Philly Fed’s Plosser.
USD/CAD relevant levels
At the moment the pair is advancing 0.21% at 1.2530 with the initial hurdle at 1.2577 (Kijun Sen) followed by 1.2600 (psychological level). On the other hand, a drop below 1.2449 (low Feb.27) would open the door to 1.2388 (low Feb.26) and then 1.2360 (low Feb.17).