USDCAD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.07% | 9.4 Pips |  |
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| Week to-date | 0.22% | 29.5 Pips | |
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| January | 1.06% | 140 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate (12-mth) in December exceed forecast and rose to 3.4% compared to previous figure 3.1% in November Source: Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0.3% compared to previous figure 0.1% in November Source: Bureau of Labor Statistics 🇺🇸 In the week ending 06 January, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 203K (revised from 202K) Source: Department of Labor
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What can we expect from USDCAD today?
USDCAD on Thursday rose 0.07% to 1.33895. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.33434 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.34429 or trades above daily pivot 1.33931. Break above could target R1 at 1.34393. While to the downside, we are looking at 1.33434 (S1) and daily low of 1.33470 as support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.34429 may suggest continuation after recent positive movement.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.35352 |
| R2 | 1.3489 |
| R1 | 1.34393 |
| Daily Pivot | 1.33931 |
| S1 | 1.33434 |
| S2 | 1.32972 |
| S3 | 1.32475 |
