USD/CAD still holding off 1.3500 as USD pushes up again

Published date: 15/05/2019
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Canadian inflation was pretty much as expected, with the headline CPI rate edging up to 2.0% from 1.9% previously.  The median and trimmed mean measures were a touch softer than forecast, but not enough to make a material difference to the BoC's outlook at this stage.  

As such, the CAD is holding its ground as other currencies lose ground.  USD/CAD is still holding off the 1.3500 level, which has proved resilient in recent times, but a USD hungry market has been quick to buy the dip here - despite the strong retail sales number seen last week - and buyers are looking to take us back through this key figure level again.  

A cross to look out for is GBP/CAD as we now test key support in the 1.7315-25 area. AUD/CAD is also lower today and support ahead of 0.9300 is now in focus.


Comments

  • USD/CAD still holding off 1.3500 as USD pushes up again
    David says:
    15/05/2019

    See if we can get usdcad further down lol sold at the bottom

  • USD/CAD still holding off 1.3500 as USD pushes up again
    Amz says:
    15/05/2019

    Think we are still for a rally to the upside, bigger picture

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