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13 Mar 2015
USD/CAD drops to 1.2710 on data
FXStreet (Edinburgh) - The Canadian dollar grabbed some buying interest following the jobs data in Canada, sending USD/CAD to test the 1.2710 area.
USD/CAD retreating from highs
After climbing as high as the boundaries of 1.2770, spot is now eroding part of those gains after the Canadian Employment Change decreased less than expected by 1K vs. -5K forecasted, and the jobless rate ticked higher to 6.8% during February from 6.6% in the previous month.
In the US, headline Producer Prices contracted 0.6% on a year to February while Core prices expanded 1.0%.
USD/CAD key levels
At the moment the pair is advancing 0.29% at 1.2723 and a breakout of 1.2772 (high Feb.2) would open the door to 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).
USD/CAD retreating from highs
After climbing as high as the boundaries of 1.2770, spot is now eroding part of those gains after the Canadian Employment Change decreased less than expected by 1K vs. -5K forecasted, and the jobless rate ticked higher to 6.8% during February from 6.6% in the previous month.
In the US, headline Producer Prices contracted 0.6% on a year to February while Core prices expanded 1.0%.
USD/CAD key levels
At the moment the pair is advancing 0.29% at 1.2723 and a breakout of 1.2772 (high Feb.2) would open the door to 1.2800 (2015 high Jan.30) and then 1.2845 (high Mar.13 2009). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).