31 Jul 2015
USD/CAD shoots to highs near 1.3040
FXStreet (Edinburgh) - The greenback continues gather pace vs. its Canadian counterpart on Friday, sending USD/CAD to fresh tops in the 1.3040/45 band.
USD/CAD focus on CAD data
The pair is advancing for the third consecutive session so far and trading at shouting distance from weekly peaks near 1.3050. The bid tone around USD remains the exclusive driver of the recent price action, while CAD continues to suffer the up and downs of crude oil prices.
Ahead in the session, the critical GDP figures in the Canadian economy are due, with consensus expecting a flat reading for the month of May. In the US, the Employment Cost Index will be in the limelight followed by the Chicago PMI and the final gauge of the Reuters/Michigan index.
USD/CAD key levels
As of writing the pair is advancing 0.21% at 1.3029 with the initial hurdle at 1.3046 (high Jul.31) ahead of 1.3052 (high Jul.22) and then 1.3103 (high Jul.24). On the other hand, a break below 1.2940 (low Jul.30) would pave the way to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.16).
USD/CAD focus on CAD data
The pair is advancing for the third consecutive session so far and trading at shouting distance from weekly peaks near 1.3050. The bid tone around USD remains the exclusive driver of the recent price action, while CAD continues to suffer the up and downs of crude oil prices.
Ahead in the session, the critical GDP figures in the Canadian economy are due, with consensus expecting a flat reading for the month of May. In the US, the Employment Cost Index will be in the limelight followed by the Chicago PMI and the final gauge of the Reuters/Michigan index.
USD/CAD key levels
As of writing the pair is advancing 0.21% at 1.3029 with the initial hurdle at 1.3046 (high Jul.31) ahead of 1.3052 (high Jul.22) and then 1.3103 (high Jul.24). On the other hand, a break below 1.2940 (low Jul.30) would pave the way to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.16).