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16 May 2013
Forex: USD/CAD retraces back to 1.0183/84 following American CPI
FXstreet.com (Barcelona) - The USD/CAD lost steam at the 1.0209 level (intraday high) earlier today during European trading before easing back below the 1.0200 barrier. American trading has certainly provided an impetus for the pair however, and with the advent of a healthy dose of North American data, the pair has continued its descent to 1.0183/84.
Mataf.net technical analysts point to resistances for the USD/CAD at 1.0200, followed by 1.0243, and 1.0268. Conversely, the pair is slated to face calculated support at 1.0132, then 1.0107, and ultimately 1.0064.
In the United States, the Consumer Price Index (YoY and MoM) came in at +1.1% in April (against expectations of +1.3%) and -0.4% in April (vs. projections of -0.2%) respectively. In addition, the Consumer Price Index ex Food & Energy (YoY) climbed +1.7% in April, relative to a consensus of +1.8%. Meanwhile in Canada, Foreign Portfolio Investment in Canadian Securities (March) yielded a figure of $1.19B, compared with a figure of $-6.31B previously. Finally, Canadian Portfolio Investment in Foreign Securities came in at $3.81B, compared to $4.4B.
Mataf.net technical analysts point to resistances for the USD/CAD at 1.0200, followed by 1.0243, and 1.0268. Conversely, the pair is slated to face calculated support at 1.0132, then 1.0107, and ultimately 1.0064.
In the United States, the Consumer Price Index (YoY and MoM) came in at +1.1% in April (against expectations of +1.3%) and -0.4% in April (vs. projections of -0.2%) respectively. In addition, the Consumer Price Index ex Food & Energy (YoY) climbed +1.7% in April, relative to a consensus of +1.8%. Meanwhile in Canada, Foreign Portfolio Investment in Canadian Securities (March) yielded a figure of $1.19B, compared with a figure of $-6.31B previously. Finally, Canadian Portfolio Investment in Foreign Securities came in at $3.81B, compared to $4.4B.