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Forex: USD/CAD bouncing off lows, above 1.0200

FXstreet.com (Barcelona) - After bottoming in the area of 1.0180, the cross is now picking up pace and regaining the 1.0200 resistance, after the industrial production in the US expanded 0.7% during February.

The Canadian dollar has resumed its appreciation against the greenback on Wednesday alongside the USD sell-off on the better-than-expected US labour market data, dragging the cross from the boundaries of 1.0280 to today’s lows around 1.0180

At the moment, USD/CAD is down 0.13% at 1.0210 and a dip below 1.0160 (low Feb.22) would open the door to 1.00998 (Lower Bollinger) and then 1.0055 (low Feb.18).
On the upside, resistance levels are located at 1.0231 (MA21d) followed by 1.0267 (MA10d) and finally 1.0315 (high Mar.8).

February inflationary measures fall within Fed’s 2% threshold

The cost of living in the United States has risen by a greater margin than originally expected in the month February, due in part to the largest jump in gasoline prices in over than three years. However, despite this phenomenon, the retreat in fuel expenses this month does indeed reveal that inflation will be consistent with the Federal Reserve’s goal –not prompting additional action.
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American equity markets fall as inflation rises to 2%

The US Stock market lower opening Friday as several US inflationary indicators were reported that were generally in line with expectations. In the US, the Consumer Price Index (YoY) rose +2.0% in February, which equaled projections. Moreover, the Consumer Price Index ex-food and energy reported a growth of +2.0% in February as well, which matched a consensus. Finally, Industrial Production (MoM) experienced a rise of +0.7% in February, against expectations of only +0.4%.
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