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Forex: USD/CAD falls to 1.0258/64 after Canadian retail sales

FXstreet.com (Barcelona) - The USD/CAD has had an active day Tuesday, bolstered by the release of Canadian economic data and earlier figures across Europe and China that have left the pair behaving in a volatile manner. In these moments, the cross has settled in positive territory at 1.0258/64, still up +0.02% despite shedding 20 pips.

Mataf.net analysts point to resistances at 1.0279, onto 1.0301, and finally 1.0316. On the decline, a break below 1.0242 will enable short-term supports at 1.0227, and finally 1.0205.

In Canada, Retail Sales (MoM) rose +0.8% in February, against expectations of +0.3%. Moreover, Retail Sales ex Autos (MoM) experienced a climb of +0.7% in February, vs. a projection calling for +0.5%. Later today within the hour, the BoC’s Mark Carney is expected to make a speech.

“The USD/CAD is trading in a sideway range after the sharp rise earlier, the sideway trading is within a technical formation in the Symmetrical Triangle Pattern. There is an intraday technical contradiction on the pair; RSI tends to the downside while the stochastic is showing a positive crossover.” notes the ICN.com analyst team.

Canada: Retail Sales rose 0.8% MoM in February

Canadian retail sales expanded 0.8% MoM during February, beating forecasts at 0.3%. Excluding the automobile sector, sales increased 0.7% MoM vs. the median at 0.5% and January’s 0.4% (revised)...
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Forex: EUR/CAD falls to support at 1.3321/26 after Retail sales in Canada

After experiencing a dramatic downturn during European trading earlier today, the EUR/CAD has fallen even lower as upbeat Canadian data was recently released. The pair has now fallen below multiple supports to trade at 1.3321/26 in these moments, entrenched in negative territory, and down -0.58%.
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