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8 Sep 2015
USD/CAD dips to lows near 1.3250
FXStreet (Edinburgh) - The greenback is rapidly losing the grip vs. its Canadian neighbour on Tuesday, relegating USD/CAD to the area of daily lows in the mid-1.3200s.
USD/CAD weaker, BoC eyed
The pair is markedly lower today despite the recovery seen in the greenback since session troughs in early trade and the persistent weakness hurting crude oil prices, with the barrel of WTI now slipping near 2% and trading in the $45 area.
Ahead in the session, US Fed’s Labour Market Conditions Index (LMCI) and Consumer Credit Change will precede the speech by Minneapolis Fed N.Kocherlakota, while the more relevant BoC monetary policy meeting is due tomorrow.
USD/CAD levels to consider
At the moment the pair is losing 0.40% at 1.3254 with the next support at 1.3245 (low Sep.8) followed by 1.3162 (low Sep.4) and then 1.3116 (low Aug.31). On the upside, a break above 1.3310 (high Sep.8) would open the door to 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26).
USD/CAD weaker, BoC eyed
The pair is markedly lower today despite the recovery seen in the greenback since session troughs in early trade and the persistent weakness hurting crude oil prices, with the barrel of WTI now slipping near 2% and trading in the $45 area.
Ahead in the session, US Fed’s Labour Market Conditions Index (LMCI) and Consumer Credit Change will precede the speech by Minneapolis Fed N.Kocherlakota, while the more relevant BoC monetary policy meeting is due tomorrow.
USD/CAD levels to consider
At the moment the pair is losing 0.40% at 1.3254 with the next support at 1.3245 (low Sep.8) followed by 1.3162 (low Sep.4) and then 1.3116 (low Aug.31). On the upside, a break above 1.3310 (high Sep.8) would open the door to 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26).