6 Jul 2015
USD/CAD clinches highs near 1.2640
FXStreet (Edinburgh) - The greenback is accelerating its gains vs. its Canadian counterpart on Monday, lifting USD/CAD to daily peaks near 1.2640.
USD/CAD eyes on data, oil
After dropping to the area of 1.2560 during the European morning, the pair sparked a leg higher backed by the increasing bid tone around the US dollar, which continues to find fuel in the risk-off sentiment after the Greek referendum. Crude oil prices are nose-diving more than 4% around the $54.00 mark today, also collaborating with the offered tone around CAD.
In the data space, ISM Non-manufacturing, Markit’s PMI and the Labour Market Conditions Index gauged by the Fed are due in the US economy, while Ivey’s PMI index and the BoC Business Outlook Survey will be published in Canada.
USD/CAD key levels
At the moment the pair is up 0.53% at 1.2640 with the initial hurdle at 1.2666 (high Apr.10) ahead of 1.2706 (high Mar.30) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2537 (low Jul.3) would open the door to 1.2487 (low Jul.1) and then 1.2362 (low Jun.30).
USD/CAD eyes on data, oil
After dropping to the area of 1.2560 during the European morning, the pair sparked a leg higher backed by the increasing bid tone around the US dollar, which continues to find fuel in the risk-off sentiment after the Greek referendum. Crude oil prices are nose-diving more than 4% around the $54.00 mark today, also collaborating with the offered tone around CAD.
In the data space, ISM Non-manufacturing, Markit’s PMI and the Labour Market Conditions Index gauged by the Fed are due in the US economy, while Ivey’s PMI index and the BoC Business Outlook Survey will be published in Canada.
USD/CAD key levels
At the moment the pair is up 0.53% at 1.2640 with the initial hurdle at 1.2666 (high Apr.10) ahead of 1.2706 (high Mar.30) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2537 (low Jul.3) would open the door to 1.2487 (low Jul.1) and then 1.2362 (low Jun.30).