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21 Aug 2015
USD/CAD tests fresh lows near 1.3050
FXStreet (Edinburgh) - The Canadian dollar spiked to the 1.3050 area vs. the US dollar following Canadian releases, with USD/CAD now hovering over 1.3080/70.
USD/CAD weaker post-data
The pair initially dropped to fresh troughs around the mid-1.3000s after Canadian retail sales rose at a monthly pace of 0.6% in July, surpassing estimates for a 0.2% advance. Sales excluding the Auto sector expanded 0.8% inter-month vs. 0.5% expected.
Further data saw consumer prices rising less than estimated 1.3% on a year to July, while core prices rose 2.4% YoY, matching consensus.
USD/CAD levels to consider
At the moment the pair is up 0.01% at 1.3089 and a surpass of 1.3178 (high Aug.20) would aim for 1.3183 (high Aug.10) and then 1.3197 (high Aug.6). On the flip side, the initial support lines up at 1.3022 (low Aug.19) ahead of 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13).
USD/CAD weaker post-data
The pair initially dropped to fresh troughs around the mid-1.3000s after Canadian retail sales rose at a monthly pace of 0.6% in July, surpassing estimates for a 0.2% advance. Sales excluding the Auto sector expanded 0.8% inter-month vs. 0.5% expected.
Further data saw consumer prices rising less than estimated 1.3% on a year to July, while core prices rose 2.4% YoY, matching consensus.
USD/CAD levels to consider
At the moment the pair is up 0.01% at 1.3089 and a surpass of 1.3178 (high Aug.20) would aim for 1.3183 (high Aug.10) and then 1.3197 (high Aug.6). On the flip side, the initial support lines up at 1.3022 (low Aug.19) ahead of 1.2998 (low Aug.11) and finally 1.2957 (low Aug.13).