The greenback extends it upbeat momentum vs. its Canadian counterpart, now liftingUSD/CAD to the 1.2550/60 region.
USD/CAD in fresh multi-year highs
The buoyancy remains intact around the pair, now gyrating around levels last traded in April 2009 beyond 1.2550. The recent FOMC statement and its higher assessment of the US economy acted as extra support for the US dollar, allowing spot to cement the recent break above 1.2500 the figure.
Still without releases in Canada, market participants will focus on the US Initial Claims (300K exp.) and Pending Home Sales (0.5% MoM in Dec.).
USD/CAD relevant levels
The pair is now up 0.16% at 1.2542 and a surpass of 1.2564 (2015 high Jan.29) would open the door to the psychological level at 1.2600 and finally 1.2606 (high Apr.2 2009). On the flip side, the immediate support lines up at 1.2512 (low Jan.29) followed by 1.2500 (psychological level) and then 1.2390 (low Jan.28).
USD/CAD in fresh multi-year highs
The buoyancy remains intact around the pair, now gyrating around levels last traded in April 2009 beyond 1.2550. The recent FOMC statement and its higher assessment of the US economy acted as extra support for the US dollar, allowing spot to cement the recent break above 1.2500 the figure.
Still without releases in Canada, market participants will focus on the US Initial Claims (300K exp.) and Pending Home Sales (0.5% MoM in Dec.).
USD/CAD relevant levels
The pair is now up 0.16% at 1.2542 and a surpass of 1.2564 (2015 high Jan.29) would open the door to the psychological level at 1.2600 and finally 1.2606 (high Apr.2 2009). On the flip side, the immediate support lines up at 1.2512 (low Jan.29) followed by 1.2500 (psychological level) and then 1.2390 (low Jan.28).
