OctaFX | OctaFX Forex Broker
Open trading account

USD/CAD keeps the range above 1.1300

FXStreet (Edinburgh) - USD/CAD keeps the composure after the US releases on Monday, hovering over the 1.1315/20 area.

USD/CAD consolidates above 1.1300

The bid tone stays intact around the USD today despite mixed results from the US docket in October, as Capacity Utilization fell to 78.9% vs. 79.3% estimated and Industrial Production contracted 0.1% MoM vs. forecasts for a 0.2% advance. On the Canadian side, Foreign Portfolio Investment in Canadian Securities shrunk to $4.37 billion in September from $10.29 billion in the previous month. “We remain longer-term USD bulls and we continue to view USD dips as a buying opportunity”, recommended Shaun Osborne, Chief FX Strategist at TD Securities.

USD/CAD key levels

At the moment the pair is up 0.41% at 1.1323 and a surpass of 1.1394 (high Nov.14) would expose 1.1402 (high Nov.11) and then 1.1450 (high Nov.7). On the flip side, the immediate support aligns at 1.1269 (low Nov.17) ahead of 1.1264 (low Nov.14) and finally 1.1253 (61.8% of 1.1122-1.1466).

GBP/USD holds near daily lows

GBP/USD bottomed during the European session at 1.5617, less than 30 pips above Friday’s lows after falling more than a hundred pips from the highs.
Read more Previous

Draghi urged to commit on structural reforms

At his speech before the European Parliament’s Economic and Monetary Affairs Committee, ECB President Draghi urged all European institutions to commit on concrete short-term commitments for structural reforms to bring economy back on track.
Read more Next
Start livechat