USDCAD by TradingView
| Wednesday | |||
| Open | High | Low | Close |
| 1.35351 | 1.35685 | 1.35100 | 1.35474 |
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.09% | 12.4 Pips |  |
||
| Week to-date | 0.55% | 74.1 Pips |  |
||
| February | 1.82% | 242.3 Pips | |
||
Upcoming key events (London Time)
Thu 01:30 PM USD Gross Domestic Product Annualized
What happened lately
📆 🇺🇸 USD S&P Global Composite PMI in February preliminary estimate exceed forecast and rose to 50.2 points compared to previous figure 46.8 points in January. Source 📆 🇺🇸 USD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 50.5 points compared to previous figure 46.8 points in January. Source
📆 🇨🇦 CAD Consumer Price Index (YoY) in January below forecast and dropped to 5.9% compared to previous figure 6.3% in December. Source 📆 ☢️ 🇨🇦 CAD Retail Sales (MoM) in December exceed forecast and rose to 0.5% compared to previous figure -0.1% in November. Source 📆 🇨🇦 CAD Retail Sales ex Autos (MoM) in December exceed forecast and dropped to -0.6% compared to previous figure -0.5, revised from -0.6% in November. Source
What can we expect from USDCAD today?
USDCAD on Wednesday rose 0.09% to 1.3547. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35154 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.3568 or trades above daily pivot 1.35420 while to the downside, the daily low of 1.3510 and 1.35154 (S1) as key support levels. USDCAD need to break on either side to indicate a short-term bias. A break above 1.3568 would suggest bullish bias 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 0.55% over the past few days.
Key levels to watch out:
| R3 | 1.36324 |
| R2 | 1.36005 |
| R1 | 1.35739 |
| Daily Pivot | 1.35420 |
| S1 | 1.35154 |
| S2 | 1.34835 |
| S3 | 1.34569 |
You might also be interested in:
Minutes of the Federal Open Market Committee, January 31–February 1, 2023 Source: Federal Reserve
New Housing Price Index, January 2023 Source: Statistics Canada Retail trade, December 2022 Source: Statistics Canada Consumer Price Index, January 2023 Source: Statistics Canada Annual retail trade, 2021 Source: Statistics Canada
Last updated: 11:37 pm UTC, 22-Feb 2023
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