Forex: USD/CAD – Stable around 1.0170

on Jun 14, 2013

After yesterday’s updates on US jobless claims and retail sales, the pair recovered from its one-month low at 1.0149 and climbed to 1.0187.

In today’s Asian session, the pair fell lower again to 1.0147 before retracing to earlier highs above 1.0185 ahead of the European opening. Subsequently, the quote has settled around 1.0170, waiting for further signals from fresh updates due out today.
Statistics Canada is expected to release Manufacturing Shipment data for April m/m, which provides insights on local market demand.

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Later from the US ,a new reading on the current account balance is scheduled for 13:30 BST, followed by the Producer Price Index for May, net total and long-term TIC (Treasury International Capital) flows, and industrial production.
The June reading of the Reuters/University of Michigan Consumer Sentiment Index is scheduled for 15:00 BST today. The index is widely seen as a substantial indicator for economic activity in the US and today’s information could significantly influence the near-term development of all the USD pairs.
Currently, the pair is still far from the highs at 1.0227 reached in yesterday’s Asian session.


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