USD/CAD climbs near 1.3200 on data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The greenback has appreciated further vs. the Canadian dollar on Friday, lifting USD/CAD to the boundaries of 1.3200 the figure, or session peaks.

    USD/CAD stronger post-data

    The pair’s upside has intensified after Canadian GDP figures showed the economy has expanded at a monthly pace of 0.1% during august, matching initial estimates.

    Back to the US docket, both Personal Income and Spending have disappointed expectations, advancing 0.1% MoM in September vs. forecasts for a 0.2% gain, while the Employment Cost Index has matched consensus rising 0.6% QoQ during the third quarter.

    Next on tap will be the Chicago PMI, the Reuters/Michigan index and the speech by Fed’s Williams.

    USD/CAD levels to consider

    As of writing, the pair is up 0.08% at 1.3178 with the next hurdle at 1.3217 (38.2% Fibo of 1.3459-1.2827) ahead of 1.3281 (high Oct.28) and then 1.3310 (23.6% Fibo of 1.3459-1.2827). On the other hand, a breach of 1.3069 (61.8% Fibo of 1.3459-1.2827) would open the door to 1.3016 (100-day sma) and finally 1.2941 (5-month uptrend).
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