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8 May 2015
USD/CAD challenges 1.2100
FXStreet (Edinburgh) - The greenback is losing ground vs. its Canadian neighbour today, with USD/CAD navigating the 1.2100 neighbourhood so far.
USD/CAD focus on US, CAD data
The pair dropped further after Canadian Housing Starts came in at a seasonally adjusted 181.8K on a year to April vs.182K expected. However, the pair will remain under pressure in light of the more significant releases in both Canadian and US labour markets.
Consensus expects US Non-farm Payrolls to come in at 225K during April, while the Canadian Net Change in Employment is seen decreasing by 5K during the same period.
USD/CAD key levels
At the moment the pair is losing 0.21% at 1.2101 and a break below 1.2033 (low May 7) would open the door to 1.1940 (low May 6) and finally 1.1934 (low Jan.19). On the upside, the initial resistance aligns at 1.2164 (high May 7) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27).
USD/CAD focus on US, CAD data
The pair dropped further after Canadian Housing Starts came in at a seasonally adjusted 181.8K on a year to April vs.182K expected. However, the pair will remain under pressure in light of the more significant releases in both Canadian and US labour markets.
Consensus expects US Non-farm Payrolls to come in at 225K during April, while the Canadian Net Change in Employment is seen decreasing by 5K during the same period.
USD/CAD key levels
At the moment the pair is losing 0.21% at 1.2101 and a break below 1.2033 (low May 7) would open the door to 1.1940 (low May 6) and finally 1.1934 (low Jan.19). On the upside, the initial resistance aligns at 1.2164 (high May 7) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27).