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2 Apr 2015
USD/CAD regains 1.2580
FXStreet (Edinburgh) - The Canadian dollar is shedding part of the daily gains vs. the greenback, now allowing USD/CAD to retake the 1.2580/85 band.
USD/CAD lower after data
The US dollar remains on the defensive today, adding to yesterday’s losses despite the US docket surprised investors to the upside today. In light of tomorrow’s Payrolls, the weekly claims dropped more than previously estimated, contrasting with Wednesday’s ADP report and opening the door to the possibility of an upside surprise on Friday.
On the Canadian side, the trade deficit shrunk to $0.98 billion during February, bettering forecasts for $2 billion deficit.
USD/CAD relevant levels
At the moment the pair is down 0.35% at 1.2577 and a breakdown of 1.2500 (psychological level) would aim for 1.2468 (low Mar.27) and then 1.2410 (low Mar.26). On the upside, the initial hurdle aligns at 1.2657 (high Apr.2) followed by 1.2711 (high Apr.1) and finally 1.2724 (high Mar.20).
USD/CAD lower after data
The US dollar remains on the defensive today, adding to yesterday’s losses despite the US docket surprised investors to the upside today. In light of tomorrow’s Payrolls, the weekly claims dropped more than previously estimated, contrasting with Wednesday’s ADP report and opening the door to the possibility of an upside surprise on Friday.
On the Canadian side, the trade deficit shrunk to $0.98 billion during February, bettering forecasts for $2 billion deficit.
USD/CAD relevant levels
At the moment the pair is down 0.35% at 1.2577 and a breakdown of 1.2500 (psychological level) would aim for 1.2468 (low Mar.27) and then 1.2410 (low Mar.26). On the upside, the initial hurdle aligns at 1.2657 (high Apr.2) followed by 1.2711 (high Apr.1) and finally 1.2724 (high Mar.20).