Back

USD/CAD trimming losses, near 1.2530

FXStreet (Edinburgh) - After bottoming in sub-1.2500 levels in early trade, USD/CAD is now recovering ground and is pointing to regain the mid-1.2500s.

USD/CAD focus on data

The pair is looking to extend the bounce off last week’s troughs in the 1.2400 neighbourhood backed on a better sentiment around the US dollar, although the recovery in crude oil prices continues to give oxygen to the CAD.

Ahead in the day, Canadian GDP figures will be the main highlight today, with prior surveys expecting the economy to have expanded 0.2% on a monthly basis and 2.0% over the last twelve months in Q4.

USD/CAD significant levels

The pair is now down 0.11% at 1.2521 with the next support at 1.2491 (low Mar.3) followed by 1.2478 (low Mar.2) and then 1.2449 (low Feb.27). On the other hand, a break above 1.2543 (high Mar.3) would open the door to 1.2565 (high Mar.2) and finally 1.2577 (Kijun Sen).

Australia housing market spoils RBA’s rate cut plans – Rabobank

Jane Foley, Senior Currency Strategist at Rabobank, explains that the strong housing market led RBA to keep rates on hold in today’s meeting, and views that any moderation in activity in the same could push the Australian central bank to cut rates again this year.
Baca selengkapnya Previous

EUR/AUD falls to 1-month lows after RBA

The EUR/AUD dropped sharply more than a hundred pips after the decision of the Reserve Bank of Australia to leave rates unchanged. Price fell from 1.4400 to 1.4270, reaching the lowest level since January 28.
Baca selengkapnya Next