USD/CAD: Loonie trading lower this morning ahead of Canada’s GDP data and BoC Governor Poloz’s speech


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD marginally rose against the CAD and closed at 1.2831.

In the Asian session, at GMT0400, the pair is trading at 1.2841, with the USD trading 0.08% higher from yesterday’s close.

The pair is expected to find support at 1.2815, and a fall through could take it to the next support level of 1.2789. The pair is expected to find its first resistance at 1.2864, and a rise through could take it to the next resistance level of 1.2887.

Later in the day, all eyes would be on Canada’s economic growth data for August and a speech by the Governor of the Bank of Canada (BoC), Stephen Poloz.

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

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