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22 Feb 2013
Forex: USD/CAD finds support at 1.0160
The Canadian dollar is resuming its soft tone against the greenback on Friday, bouncing off 2-day lows in the area around 1.0160 to the current levels in the boundaries of the psychological mark at 1.0200
Ahead in the day, inflation figures are due in Canada, where market consensus expects the CPI to rise 0.7% in a year to January from 0.8% in the previous print, ahead of retail sales, expected to contract 0.3% in December.
As of writing, the cross is up 0.10% at 1.0196 with the next hurdle at 1.0208 (high Feb.21) en route to 1.0232 (high Jul.25) and then 1.0251 (high Jul.12).
On the downside, a violation of 1.0101 (high Jan.25) would bring 1.0092 (MA10d) and finally 1.0055 (low Feb.18).
Ahead in the day, inflation figures are due in Canada, where market consensus expects the CPI to rise 0.7% in a year to January from 0.8% in the previous print, ahead of retail sales, expected to contract 0.3% in December.
As of writing, the cross is up 0.10% at 1.0196 with the next hurdle at 1.0208 (high Feb.21) en route to 1.0232 (high Jul.25) and then 1.0251 (high Jul.12).
On the downside, a violation of 1.0101 (high Jan.25) would bring 1.0092 (MA10d) and finally 1.0055 (low Feb.18).