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26 Jun 2013
USD/CAD mixed on US data
FXstreet.com (London) - USD/CAD initially moved lower on poorer than expected data for the US economy but has since recovered.
USD/CAD is printing a low of 1.0455 after the release of Personal Consumption Expenditures and The Real (Core) Personal Consumption Expenditure came in line, while the key data in focus, The Gross Domestic Product annualised, came in worse at 1.8% against 2.4% expected.
USD/CAD still within ranges
1.0658 and the 2011 high gives us the target to the upside still but without a solid US GDP print ahead of Canadian GDP on Friday, it may be difficult to find enough stimulus in an already illiquid market place, especially with month end approaching. 1.0380 is a crucial level to the downside and there will likely be big stops around there.
USD/CAD is printing a low of 1.0455 after the release of Personal Consumption Expenditures and The Real (Core) Personal Consumption Expenditure came in line, while the key data in focus, The Gross Domestic Product annualised, came in worse at 1.8% against 2.4% expected.
USD/CAD still within ranges
1.0658 and the 2011 high gives us the target to the upside still but without a solid US GDP print ahead of Canadian GDP on Friday, it may be difficult to find enough stimulus in an already illiquid market place, especially with month end approaching. 1.0380 is a crucial level to the downside and there will likely be big stops around there.