10 Jul 2015
USD/CAD dips to lows on data
FXStreet (Edinburgh) - The Canadian dollar is now gaining traction vs. the greenback, sending USD/CAD to fresh daily lows in the 1.2660 area.
USD/CAD weaker post data
Spot is re-visiting the 1.2670/60 band after the Canadian labour market results came in above expectations during June, with the Net Change in Employment decreasing by 6.4K vs. a 10K drop anticipated and the unemployment rate staying put at 6.8% vs. 6.9% initially estimated. Further data saw the Participation Rate a tad lower at 65.8% vs. 65.9% previous.
Spot continues to be driven almost exclusively by the developments in Greece, although today’s speech by J.Yellen could also add some volatility.
USD/CAD key levels
At the moment the pair is down 0.18% at 1.2683 and a breakdown of 1.2662 (low Jul.10) would open the door to 1.2537 (low Jul.3) and then 1.2487 (low Jul.1). On the flip side, the next hurdle lines up at 1.2726 (high Jul.10) followed by 1.2779 (high Jul.7) and then 1.2784 (high Mar.31).
USD/CAD weaker post data
Spot is re-visiting the 1.2670/60 band after the Canadian labour market results came in above expectations during June, with the Net Change in Employment decreasing by 6.4K vs. a 10K drop anticipated and the unemployment rate staying put at 6.8% vs. 6.9% initially estimated. Further data saw the Participation Rate a tad lower at 65.8% vs. 65.9% previous.
Spot continues to be driven almost exclusively by the developments in Greece, although today’s speech by J.Yellen could also add some volatility.
USD/CAD key levels
At the moment the pair is down 0.18% at 1.2683 and a breakdown of 1.2662 (low Jul.10) would open the door to 1.2537 (low Jul.3) and then 1.2487 (low Jul.1). On the flip side, the next hurdle lines up at 1.2726 (high Jul.10) followed by 1.2779 (high Jul.7) and then 1.2784 (high Mar.31).