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21 Jun 2013
USD/CAD consolidating
FXstreet.com (London) - USD/CAD has traded between the low 1.0175 and the high of 1.0395 since the release of FOMC and a raft of other key US data.
USD/CAD data
USD/CAD has enjoyed bullish comments from the FOMC, which have given the market expectations that a rate hike might come sooner. Today is all about the Canadian dollar, with key data releases this afternoon coming out at 12.30GMT. Most key will come in the form of Consumer Price index (YoY) (May) is expected at 0.9% and core 1.2%, up on last year. Retail sales (MoM) (Apr) 0.3% and ex autos, -0.1%, both up on previous month.
USD/CAD Price action
USD/CAD is currently ranging o the 15 min chart between 20 pips with a slight bias to the downside. MA’s longer term are heavily bullish while in this moment, the pair are consolidating after a 220-pip move in the last 48hrs. 1.0130 acts as key support. 1.0450 and 1.0530 are key targets.
USD/CAD data
USD/CAD has enjoyed bullish comments from the FOMC, which have given the market expectations that a rate hike might come sooner. Today is all about the Canadian dollar, with key data releases this afternoon coming out at 12.30GMT. Most key will come in the form of Consumer Price index (YoY) (May) is expected at 0.9% and core 1.2%, up on last year. Retail sales (MoM) (Apr) 0.3% and ex autos, -0.1%, both up on previous month.
USD/CAD Price action
USD/CAD is currently ranging o the 15 min chart between 20 pips with a slight bias to the downside. MA’s longer term are heavily bullish while in this moment, the pair are consolidating after a 220-pip move in the last 48hrs. 1.0130 acts as key support. 1.0450 and 1.0530 are key targets.