USD/CAD: Canada’s new house price index rose less-than-expected in June


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.35% against the CAD and closed at 1.2742.

On the data front, Canada’s new housing price index registered a rise of 0.2% MoM in June, falling short of market expectations for an advance of 0.5%. The index had risen 0.7% in the previous month.

In the Asian session, at GMT0300, the pair is trading at 1.2745, with the USD trading a tad higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.2694, and a fall through could take it to the next support level of 1.2644. The pair is expected to find its first resistance at 1.2774, and a rise through could take it to the next resistance level of 1.2804.

Investors will keep a close watch on Canada’s consumer price index and existing home sales data, both set to be released next week.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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