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14 Feb 2014
USD/CAD jumps above 1.0975 after weak Canadian data
FXStreet (San Francisco) - The USD/CAD just got a push from disappointing Canadian manufacturing shipments data and after jumped around 40 pips from 1.0940 in the last hour, the pair has reached fresh daily highs at 1.0985.
The Canadian manufacturing shipments data declined 0.9% in December, against rise of 0.1% expected by market. Previous data was revised down 0.5% increase from 1.0% published initially. Existing home sales declined 3.3%.
USD/CAD sentiment
The USD/CAD is currently trading at 1.0977, almost flat on the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
The pair would find resistances at 1.0980, 1.1020 and 1.1040. On the downside, supports are at 1.0945, 1.0905 and 1.0840.
The Canadian manufacturing shipments data declined 0.9% in December, against rise of 0.1% expected by market. Previous data was revised down 0.5% increase from 1.0% published initially. Existing home sales declined 3.3%.
USD/CAD sentiment
The USD/CAD is currently trading at 1.0977, almost flat on the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
The pair would find resistances at 1.0980, 1.1020 and 1.1040. On the downside, supports are at 1.0945, 1.0905 and 1.0840.