Canadian dollar (CAD), Daily Review, Feb 19 2010

By @ibtimes on

The Canadian Dollar advanced to a 4-week high against the Dollar as the price of crude oil, the nation's biggest export climbed as well. Moreover, Core CPI came out like the forecast at 0.1% and Foreign Securities Purchases came out better than expected at 11.23B vs. 7.21B. In the last two days the Dollar rose nicely and if it breaks the 1.05 level and stay above it the momentum will become bullish. Overall, USD/CAD traded with a low of 1.0397 and with a high of 1.0498. Today, Core Retail Sales are expected at 0.4% vs. 0.0 % prior and Leading Index is expected to weak from 1.5% to 1.1%.

CAD/USD - Last: 1.0502

Resistance

1.0531

1.0579

1.0611

Support

1.0397

1.0345

1.0295

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