Canadian dollar (CAD)

The Canadian dollar gained against the U.S dollar after positive macro-economic data in the U.S. spurred demand for commodity linked assets as well. The Foreign Securities Purchases data came out at 9.63B, better than the expected 7.22B, which also supported the Looney. Only breaking the support level of 0.9840 will extend the decline in the pair, otherwise a rebound back to parity might be seen. Overall, USD/CAD traded with a low of 0.9841, with a high of 0.9900. Today, Wholesale Sales are expected at 1.9% vs. 1.2% previously.

USD/CAD - Last: 0.9840

Resistance

0.9900

0.9920

0.9985

Support

0.9840

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