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4 Mar 2015
USD/CAD consolidates above 1.2500
FXStreet (Edinburgh) - The greenback keeps pushing higher vs. its neighbour on Wednesday, lifting USD/CAD to session highs in the 1.2520/30 band.
USD/CAD eyes on BoC
The pair is trading in a congestive pattern around 1.2500 amidst a cautious tone, in light of today’s BoC monetary policy meeting and the critical Non-farm Payrolls in the US economy during February, due on Friday.
Market consensus expects the BoC to refrain from further easing today, while assessing in the meantime the effects of the January unexpected rate cut. Regarding US Payrolls, prior surveys points to a job creation around 240K during the last month, lower from January’s 257K.
USD/CAD significant levels
The pair is advancing 0.21% at 1.2517 and a break above 1.2543 (high Mar.3) would open the door to 1.2565 (high Mar.2) and finally 1.2577 (Kijun Sen). On the downside, the immediate support lies at 1.2491 (low Mar.4) followed by 1.2433 (low Mar.2) and then 1.2388 (low Feb.26).
USD/CAD eyes on BoC
The pair is trading in a congestive pattern around 1.2500 amidst a cautious tone, in light of today’s BoC monetary policy meeting and the critical Non-farm Payrolls in the US economy during February, due on Friday.
Market consensus expects the BoC to refrain from further easing today, while assessing in the meantime the effects of the January unexpected rate cut. Regarding US Payrolls, prior surveys points to a job creation around 240K during the last month, lower from January’s 257K.
USD/CAD significant levels
The pair is advancing 0.21% at 1.2517 and a break above 1.2543 (high Mar.3) would open the door to 1.2565 (high Mar.2) and finally 1.2577 (Kijun Sen). On the downside, the immediate support lies at 1.2491 (low Mar.4) followed by 1.2433 (low Mar.2) and then 1.2388 (low Feb.26).