FXstreet.com (Barcelona) - The USD/CAD has falling further today's European session after trading in a narrow range between 1.0800 and 1.0815 during the Asian time to break down and falls below MA200 in hourly chart at 1.0790 to trade close to 1-week low at 1.0710. Currently the pair is trading around 1.0730/40, 1.05% lower than opening price action at 1.0847.
USD/CAD is trading bearish after capping its recovery from 1.0790, yesterday intra-day low, at 1.0922, daily high, in the American session to fall more than 200 pips to 1.0710, today's low.
The UFXBank research desk comments: The Canadian Dollar remained unchanged versus the Dollar as stocks declined and Crude remained almost unchanged below 67$ a barrel. Overall, USD/CAD traded with a low of 1.0792 and with a high of 1.0924. Today, The Canadian GDP will be released expected better with 0.4% versus 0.1% prior. RMPI is expected stronger with 2.9% versus -3.8% prior and U.S Crude Inventories are important for the Canadian currency as well as its Canada's primary export.