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15 May 2015
USD/CAD in highs near 1.2070
FXStreet (Edinburgh) - The US dollar is appreciating further on Friday vs. its Canadian counterpart, taking USD/CAD to session tops near 1.2070.
USD/CAD stronger despite US data
The pair reacted positively in spite of both US Industrial Production and Capacity Utilization have missed estimates during April, contracting 0.3% inter-month and falling to 78.2%, respectively.
On the Canadian side, Manufacturing Shipments surprised to the upside expanding at a monthly pace of 2.9%, largely reverting February’s 1.7% contraction and surpassing the 0.1% gain forecasted.
USD/CAD levels to watch
At the moment the pair is gaining 0.61% at 1.2056 with the next hurdle at 1.2100 (psychological level) ahead of 1.2107 (high May 12) and then 1.2200 (psychological level). On the other hand, a breakdown of 1.1920 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12).
USD/CAD stronger despite US data
The pair reacted positively in spite of both US Industrial Production and Capacity Utilization have missed estimates during April, contracting 0.3% inter-month and falling to 78.2%, respectively.
On the Canadian side, Manufacturing Shipments surprised to the upside expanding at a monthly pace of 2.9%, largely reverting February’s 1.7% contraction and surpassing the 0.1% gain forecasted.
USD/CAD levels to watch
At the moment the pair is gaining 0.61% at 1.2056 with the next hurdle at 1.2100 (psychological level) ahead of 1.2107 (high May 12) and then 1.2200 (psychological level). On the other hand, a breakdown of 1.1920 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12).