USDCAD by TradingView
| Week Ending 2023-02-17 | |||
| Open | High | Low | Close |
| 1.33440 | 1.35371 | 1.32730 | 1.34737 |
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.12% | 16.8 Pips |  |
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| Week 2023-02-17 | 0.99% | 131.7 Pips | |
||
| February | 1.27% | 168.6 Pips |  |
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Next week key events (London Time)
Mon 05:00 AM USD Presidents’ Day
Mon 05:00 AM CAD Family Day 
Tue 01:30 PM CAD BoC Consumer Price Index Core (YoY) Tue 01:30 PM CAD Retail Sales (MoM) Wed 07:00 PM USD FOMC Minutes Thu 01:30 PM USD Gross Domestic Product Annualized
What happened over the week
📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in February below forecast and dropped to -24.3 points compared to previous figure -8.9 points in January. Source 📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source 📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. Source
What can we expect from USDCAD for the new week and what happened on Friday?
USDCAD on Friday rose 0.12% to 1.34737. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-02-17, the pair rose 0.99% or 131.7 pips higher.
Looking ahead on Monday after previous session, USDCAD looks mixed as the pair is likely to consolidate above week low of 1.32730.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of last week high of 1.35371 or at least trades above Weekly Pivot level of 1.34279. On the downside, we are looking at last week low 1.32730 or 1.33188 (WS1) as immediate support level. USDCAD need to break on either side to indicate a short-term bias. A break above 1.35371 would suggest bullish bias after recent positive movement.
For the month of February, USDCAD is up by 1.27% or 168.6 pips higher.
Weekly key levels to watch out:
| R3 | 1.38470 |
| R2 | 1.36920 |
| R1 | 1.35829 |
| Weekly Pivot | 1.34279 |
| S1 | 1.33188 |
| S2 | 1.31638 |
| S3 | 1.30547 |
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Advanced Monthly Sales for Retail and Food Services Source: Census Bureau PPI for final demand advances 0.7% in January; goods rise 1.2%, services increase 0.4% Source: Bureau of Labor Statistics Publications New Residential Construction Source: Census Bureau Manufacturing and Trade Inventories and Sales Source: Census Bureau Advanced Monthly Sales for Retail and Food Services Source: Census Bureau
Monthly Survey of Manufacturing, December 2022 Source: Statistics Canada CPI for all items rises 0.5% in January as shelter increases Source: Bureau of Labor Statistics Publications International trade in environmental and clean technology products by origin and destination, 2021 Source: Statistics Canada Annual Survey of Manufacturing Industries, 2021 Source: Statistics Canada
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