USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.06% | -8.3 Pips |  |
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| Week to-date | 0.01% | 0.8 Pips |  |
||
| June | 0.14% | 18.8 Pips | |
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Upcoming key events (London Time)
Fri 02:00 AM USD Presidential Debate Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. Gross Domestic Product Price Index in Q1 unchanged at 3.1% compared to previous report in Q4. Source: Bureau of Economic Analysis 🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 rose to 3.7% compared to previous figure 3.6% in Q4 Source: Bureau of Economic Analysis 🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in May dropped to -0.6% compared to previous figure 0.2, revised from 0.3% in April Source: Census Bureau 🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q1 rose to 3.4% compared to previous figure 3.3% in Q4 Source: Bureau of Economic Analysis 🇺🇸 In the week ending 22 June, U.S. Initial Unemployment Insurance Claims dropped to 233K compared to previous figure 238K Source: Department of Labor 🇺🇸 U.S. Durable Goods Orders excluding Transportation in May dropped to -0.1% compared to previous figure 0.4% in April Source: Census Bureau 🇺🇸 U.S. Durable Goods Orders excluding Defense in May dropped to -0.2% compared to previous figure 0% in April Source: Census Bureau
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What can we expect from USDCAD today?
USDCAD on Thursday dropped -0.06% to 1.37021. 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 1.36787 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37120 or trades above daily pivot 1.36954. Break above could target R1 at 1.37187. While to the downside, we are looking at 1.36787 (S1) and daily low of 1.36720 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.36720 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.37587 |
| R2 | 1.37354 |
| R1 | 1.37187 |
| Daily Pivot | 1.36954 |
| S1 | 1.36787 |
| S2 | 1.36554 |
| S3 | 1.36387 |
