Back
19 Mar 2013
Forex: USD/CAD climbs to session high after US data
FXstreet.com (Barcelona) - The Canadian dollar is rapidly depreciating against the greenback on Tuesday, after US Building Permits and Housing Starts exceeded expectations during February, confirming the positive momentum of the US housing sector.
In the domestic data space, Wholesale Sales rose 0.3% and Manufacturing Shipments contracted 0.2%, both prints coming in short of estimates at +0.4% and _0.9%, respectively.
At the moment, the cross is advancing 0.36% at 1.0255 facing the next hurdle at 1.0257 (MA10d) ahead of 1.0315 (high Mar.8).
On the downside, a breach of 1.0181 (low Mar.15) would expose 1.0160 (low Feb.22) ahead of 1.0149 (Lower Bollinger).
In the domestic data space, Wholesale Sales rose 0.3% and Manufacturing Shipments contracted 0.2%, both prints coming in short of estimates at +0.4% and _0.9%, respectively.
At the moment, the cross is advancing 0.36% at 1.0255 facing the next hurdle at 1.0257 (MA10d) ahead of 1.0315 (high Mar.8).
On the downside, a breach of 1.0181 (low Mar.15) would expose 1.0160 (low Feb.22) ahead of 1.0149 (Lower Bollinger).