|Performance after Thursday|
|Week to-date||1.61%||213.8 Pips|
Upcoming key events (London Time)
Fri 01:30 PM CAD Retail Sales (MoM)
Fri 07:00 PM USD Fed’s Chair Powell speech
What happened lately
📆 USD In the week ending 17 September, the Initial Jobless Claims rose to 213K compared to previous figure 208K (revised from 213K).. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision rose to 3.25% compared to previous rate 2.5%. Source
📆 🇨🇦 CAD Consumer Price Index (YoY) in August below forecast and dropped to 7% compared to previous figure 7.6% in July. Source
What can we expect from USDCAD today?
USDCAD on Thursday rose 0.15% to 1.3476. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.
Updated daily direction for USDCAD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is at 1.35449 (R1) while on the downside, we are looking at daily low of 1.3406 as an important support. Break below this level could weaken the current bullish momentum. USDCAD need to break on either side to indicate a short-term bias. A break above 1.3544 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDCAD is bullish as the pair continued to trade higher and is up by 1.61% over the past few days.
Key levels to watch out:
You might also be interested in:
New Housing Price Index, August 2022 Source: Statistics Canada
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 20-21 FOMC meeting Source: Federal Reserve
Federal Reserve issues FOMC statement Source: Federal Reserve
New Residential Construction Source: Census Bureau
Consumer Price Index, August 2022 Source: Statistics Canada
Last updated: 12:35 am UTC, 23-Sep 2022
#USDCAD Trending on Twitter