USDCAD on Wednesday dropped -0.08% to 1.36812. Pair in consolidation. What we know.
USDCAD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.08% | -10.7 Pips |  | ||
| Week to-date | -0.84% | -115.8 Pips | | ||
| November | -1.38% | -191.3 Pips | | ||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in November exceed forecast and rose to 9.1 points compared to previous figure -4.6 points in October 🇺🇸 U.S. Producer Price Index (12-mth) in October below forecast and dropped to 1.3% compared to previous figure 2.2% in September 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics
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What can we expect from USDCAD today?
USDCAD on Wednesday dropped -0.08% to 1.36812. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.36509 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.37097 or trades above daily pivot 1.36803. Break above could target R1 at 1.37106. While to the downside, we are looking at 1.36509 (S1) and daily low of 1.36500 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.36500 would indicate selling pressure.
For the week to-date, take note that USDCAD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.37703 |
| R2 | 1.374 |
| R1 | 1.37106 |
| Daily Pivot | 1.36803 |
| S1 | 1.36509 |
| S2 | 1.36206 |
| S3 | 1.35912 |
You might be interested in:
Advance Monthly Sales for Retail and Food Services. Census Bureau
Monthly Survey of Manufacturing, September 2023. Statistics Canada CPI for all items unchanged in October; shelter up. Bureau of Labor Statistics Business Formation Statistics. Census Bureau
