USDCAD on Thursday rose 0.18% to 1.38193. What we know.
|Performance after Thursday|
|Week to-date||0.81%||110.5 Pips|
Upcoming key events (London Time)
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. Durable Goods Orders excluding Defense in September rose to 5.8% compared to previous figure -0.7% in August Census Bureau
🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 preliminary estimate exceed forecast and rose to 2.9% compared to previous figure 2.5% in Q2 Bureau of Economic Analysis
🇺🇸 In the week ending 21 October, U.S. Initial Unemployment Insurance Claims rose to 210K compared to previous figure 198K Department of Labor
🇺🇸 U.S. GDP Annualized in Q3 preliminary estimate exceed forecast and rose to 4.9% compared to previous figure 2.1% in Q2 Bureau of Economic Analysis
🇨🇦 Canada Bank of Canada Policy Interest Rate unchanged at 5% compared to previous rate 5% Bank of Canada
What can we expect from USDCAD today?
USDCAD on Thursday rose 0.18% to 1.38193. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.38472 with break above could target R2 at 1.38751 or figure level area. While towards the downside, we are looking at daily low of 1.37850 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.38440 may suggest continuation 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 0.81% over the past few days.
Key levels to watch out:
You might be interested in:
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Advance Retail Inventories. Census Bureau
Advance U.S. International Trade in Goods. Census Bureau
Advance Wholesale Inventories. Census Bureau
New Home Sales. Census Bureau
Monthly Survey of Manufacturing: Flash estimate, September 2023. Statistics Canada
Payroll employment, earnings and hours, and job vacancies, August 2023. Statistics Canada
Powell, Introductory Remarks. Federal Reserve
Monetary Policy Report – October 2023. Bank of Canada
Bank of Canada maintains policy rate, continues quantitative tightening. Bank of Canada
New Housing Price Index, September 2023. Statistics Canada