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13 Jun 2013
USD/CAD settles at 1.0171 after retail sales in US
FXstreet.com (New York) - The USD/CAD decent has been slowed and marginally reversed, as the pair now resides slightly higher following upbeat US data.
USD/CAD moves on Retail Sales in US
In the United States, Retail Sales (MoM) have climbed +0.6% in May, beating expectations of +0.4%. Moreover, Initial Jobless Claims (June 7) yielded 334K, against estimates of 345K.
USD/CAD maintains risks for a dip to 1.0100/10
According to the TD Securities Team, “The USD/CAD retains a heavy bias, however the market is still more or less in touch with retracement support in the upper 1.01 area. We think risks remain for a short-term dip to 1.0100/10.”
Following the decline today, the USD/CAD is trading negatively at -0.38% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CAD will face calculated short-term supports at 1.0166, then 1.0130 and finally 1.0104. Alternatively, resistances will be seen higher at 1.0228, onto 1.0254, and 1.0290.
USD/CAD moves on Retail Sales in US
In the United States, Retail Sales (MoM) have climbed +0.6% in May, beating expectations of +0.4%. Moreover, Initial Jobless Claims (June 7) yielded 334K, against estimates of 345K.
USD/CAD maintains risks for a dip to 1.0100/10
According to the TD Securities Team, “The USD/CAD retains a heavy bias, however the market is still more or less in touch with retracement support in the upper 1.01 area. We think risks remain for a short-term dip to 1.0100/10.”
Following the decline today, the USD/CAD is trading negatively at -0.38% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CAD will face calculated short-term supports at 1.0166, then 1.0130 and finally 1.0104. Alternatively, resistances will be seen higher at 1.0228, onto 1.0254, and 1.0290.