OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CAD falls from 5-year high after awful US data round

FXStreet (San Francisco) - US dollar is trading depressed in the latest few minutes versus all of its major competitors after a awful set of US economic data. Inside this framework, the USD/CAD lost 5-year highs around 1.1390 to trade back at daily lows at 1.1320.

US retail sales declined 0.3% in September after its worst month since January 2014. Data was worst than expected. Ex Autos item fell 0.2%. The NY Empire State manufacturing index reported its lowest number since April 2014 at 6.17 points; well below expectations.

Currently, USD/CAD is trading at 1.1335, still up 0.34% on the day, having posted a daily high at 1.1387 and low at 1.1290. USD/CAD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

USD/CAD levels

If USD/CAD breaks below the 1.1320, it will face next supports at 1.1300, 101250 and 1.1220. To the upside, resistances are at 1.1350 and 1.1390.

US Ten-year Treasury yield hits 14-month low

The US ten-year year treasury yields have extended their early morning fall after the release of a disappointing monthly retail sales number in the US.
Read more Previous

US Retail Sales fall more than expected in September - ING

James Knightley from ING believes that even though US Retail Sales fell more than expected in September, the upward revisions of August numbers bring some comfort.
Read more Next
Start livechat