USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.60% against the CAD to close at 1.0521.
In the Asian session, at GMT0400, the pair is trading at 1.0545, with the USD trading 0.23% higher from yesterday’s close.
The pair is expected to find support at 1.0484, and a fall through could take it to the next support level of 1.0422. The pair is expected to find its first resistance at 1.0578, and a rise through could take it to the next resistance level of 1.0610.
Later today, the Statistics Canada is scheduled to release the country’s consumer inflation data, which is widely expected to decline to 0.9% (YoY) in October, from a level of 1.1% seen in the previous month. Separately, the Statistics Canada is also scheduled to release a report on the nation’s retail sales during September, which the market expects a 0.3% month-on-month rise, from a rise of 0.2% in August.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
