15 Sep 2015
USD/CAD weaker towards 1.3240
FXStreet (Edinburgh) - The Canadian dollar is picking up pace vs. its American counterpart on Tuesday, sending USD/CAD to test fresh daily lows in the vicinity of 1.3240.
USD/CAD attention to US docket
Spot seems to have stabilized around the mid-1.3200s after posting recent tops above the 1.3300 handle, all against the backdrop of the increasing cautious tone amongst market participants ahead of the key FOMC gathering due on Thursday.
In the meantime, next on tap for the pair will be US Retail Sales, expected to have expanded at a monthly pace of 0.3% during August vs. July’s 0.6% gain. Further releases in the US economy will see the Empire State manufacturing gauge, Industrial Production and Capacity Utilization.
USD/CAD levels to consider
At the moment the pair is losing 0.12% at 1.3248 with the next support at 1.3226 (low Sep.14) ahead of 1.3154 (low Sep.9) and then 1.3116 (low Aug.31). On the upside, a break above 1.3290 (high Sep.10) would open the door to 1.3310 (high Sep.8) and finally 1.3327 (high Aug.31).
USD/CAD attention to US docket
Spot seems to have stabilized around the mid-1.3200s after posting recent tops above the 1.3300 handle, all against the backdrop of the increasing cautious tone amongst market participants ahead of the key FOMC gathering due on Thursday.
In the meantime, next on tap for the pair will be US Retail Sales, expected to have expanded at a monthly pace of 0.3% during August vs. July’s 0.6% gain. Further releases in the US economy will see the Empire State manufacturing gauge, Industrial Production and Capacity Utilization.
USD/CAD levels to consider
At the moment the pair is losing 0.12% at 1.3248 with the next support at 1.3226 (low Sep.14) ahead of 1.3154 (low Sep.9) and then 1.3116 (low Aug.31). On the upside, a break above 1.3290 (high Sep.10) would open the door to 1.3310 (high Sep.8) and finally 1.3327 (high Aug.31).