USDCAD on Thursday rose 0.01% to 1.35775. End February up by 1.07% or 143.9 pips higher. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.01%	0.9 Pips
Week to-date	0.54%	73.5 Pips
February	1.07%	143.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇨🇦 Canada GDP (12-mth) in Q4 rose to 1% compared to previous figure -0.5% (revised from -1.1%) Source: Statistics Canada
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇨🇦 Canada GDP (3-mth) in Q4 rose to 0.2% compared to previous figure -0.1% (revised from -0.3%) Source: Statistics Canada
🇨🇦 Canada GDP (1-mth) in December dropped to 0% compared to previous figure 0.2% in November Source: Statistics Canada
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇨🇦 Canada Current Account in Q4 improved to -1.62B compared to previous figure -4.74, revised from -3.22B in Q3 Source: Statistics Canada

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What can we expect from USDCAD today?

USDCAD on Thursday rose 0.01% to 1.35775. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35432 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35973 or trades above daily pivot 1.35703. Break above could target R1 at 1.36045. While to the downside, we are looking at 1.35432 (S1) and daily low of 1.35360 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35973 may suggest continuation after recent positive movement.

For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 0.54% over the past few days.

USDCAD ended month of February trading session up by 1.07% or 143.9 pips higher.

Key levels to watch out: