.png)
USD/CAD Video 15.02.21. To view this content please accept our cookie policy. U.S. Dollar Remains Under Pressure Against Canadian Dollar USD/CAD is currently moving towards the support at 1.2625 while the U.S. dollar is losing ground against a broad basket of currencies. The U.S. Dollar Index is currently stuck in the range between the support at 90.30 and the resistance at 90.50. If the U.S. Dollar Index declines below the support at 90.30, it will gain additional downside momentum and move towards the support at the 90 level which will be bearish for USD/CAD. Today, Canada reported that Housing Starts increased from 229,400 (revised from 228,300) in December to 282,400 in January. Analysts expected that Housing Starts would decline to 190,000 so the report was much better than expected. Meanwhile, Manufacturing Sales grew by 0.9% month-over-month in December compared to analyst consensus which called for growth of 0.6%. On Monday, Canadian dollar and other commodity-related currencies received support from the continuation of oil market rally. WTI oil managed to get above the psychologically important $60 level amid rising tensions in the Middle East. While a number of positive catalysts which include Saudi Arabia’s additional production cut and falling crude […]
CamTrader offers a preview only. View original article. www.fxempire.com
