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12 Mar 2015
USD/CAD retakes 1.2700
FXStreet (Edinburgh) - The US dollar is prolonging the bounce off session lows around 1.2620 at the end of the NA session on Thursday, with USD/CAD advancing beyond 1.2700 the figure.
USD/CAD focus on CAD data
The pair has recovered the most part of the intraday drop from overnight peaks near 1.2770 amidst an increasing selling tone in the greenback. Less auspicious US retail sales during February also weighed on the USD, casting a mantle of doubt regarding the tone of the next FOMC meeting.
Looking to Friday’s docket, key labour market figures are due in Canada, while the Reuters/Michigan index will be the main highlight in the US economy.
USD/CAD key levels
At the moment the pair is retreating 0.30% at 1.2712 with the next support at 1.2617 (low Mar.12) 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 focus on CAD data
The pair has recovered the most part of the intraday drop from overnight peaks near 1.2770 amidst an increasing selling tone in the greenback. Less auspicious US retail sales during February also weighed on the USD, casting a mantle of doubt regarding the tone of the next FOMC meeting.
Looking to Friday’s docket, key labour market figures are due in Canada, while the Reuters/Michigan index will be the main highlight in the US economy.
USD/CAD key levels
At the moment the pair is retreating 0.30% at 1.2712 with the next support at 1.2617 (low Mar.12) 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).