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1 Jun 2015
USD/CAD capped by 1.2500
FXStreet (Edinburgh) - The greenback is now losing some upside momentum vs. its Canadian counterpart, with USD/CAD trading just below the 1.2500 handle.
USD/CAD attention to the US ISM
The pair keeps the trade around multi-week tops near 1.2500 the figure propped up by the solid performance of the greenback, despite today’s softer prints from US Personal Spending and inflation figures tracked by the PCE during the last month.
The US manufacturing sector will be in the limelight later, as Markit’s manufacturing PMI and the more significant ISM Manufacturing are due. Prior surveys point to an improvement in both measures to 54.2 and 52.0, respectively. On the Canadian side, RBC’s manufacturing PMI will be published as well (49.0 prev.).
USD/CAD key levels
At the moment the pair is up 0.33% at 1.2496 and a surpass of 1.2520 (high May 29) would target 1.2540 (high May 28) en route to 1.2555 (low Apr.13). On the flip side, the next support aligns at 1.2437 (low Jun.1) followed by 1.2408 (low May 19) and finally 1.2396 (low May 27).
USD/CAD attention to the US ISM
The pair keeps the trade around multi-week tops near 1.2500 the figure propped up by the solid performance of the greenback, despite today’s softer prints from US Personal Spending and inflation figures tracked by the PCE during the last month.
The US manufacturing sector will be in the limelight later, as Markit’s manufacturing PMI and the more significant ISM Manufacturing are due. Prior surveys point to an improvement in both measures to 54.2 and 52.0, respectively. On the Canadian side, RBC’s manufacturing PMI will be published as well (49.0 prev.).
USD/CAD key levels
At the moment the pair is up 0.33% at 1.2496 and a surpass of 1.2520 (high May 29) would target 1.2540 (high May 28) en route to 1.2555 (low Apr.13). On the flip side, the next support aligns at 1.2437 (low Jun.1) followed by 1.2408 (low May 19) and finally 1.2396 (low May 27).