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20 May 2013
USD/CAD up around 1.0290/95
FXstreet.com (Barcelona) - The Canadian dollar continues to give ground against its neighbour on Monday, pushing the cross to the area of 1.0290/95 ahead of Chicago Fed National Activity index.
Richard Kelly, FX Strategist at TD Securities, commented “Macro highlights this week will come on Wednesday with the release of the FOMC minutes and Bernanke’s semi-annual testimony, both of which should, in our view, strike a more dovish tone than the recent sell-off in Treasuries would suggest”.
USD/CAD is now advancing 0.08% at 1.0293 with the next hurdle at 1.0313 (high May 17) followed by 1.0315 (high Mar.8) and finally 1.0343 (2013 high Mar.1).
On the downside, a drop below 1.0189 (MA55d) would bring 1.0181 (low May 17) and then 1.0150 (MA21d).
Richard Kelly, FX Strategist at TD Securities, commented “Macro highlights this week will come on Wednesday with the release of the FOMC minutes and Bernanke’s semi-annual testimony, both of which should, in our view, strike a more dovish tone than the recent sell-off in Treasuries would suggest”.
USD/CAD is now advancing 0.08% at 1.0293 with the next hurdle at 1.0313 (high May 17) followed by 1.0315 (high Mar.8) and finally 1.0343 (2013 high Mar.1).
On the downside, a drop below 1.0189 (MA55d) would bring 1.0181 (low May 17) and then 1.0150 (MA21d).