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20 Jun 2013
USD/CAD easing continues after jobless claims in US
FXstreet.com (New York) - The USD/CAD technical pair continued retracing off of session highs at 1.0381 (European session), still entrenched in positive territory after the release of US jobs data.
In the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M.
USD/CAD a buy should USD dip
According to the TD Securities Team, “The USD/CAD’s sharp rally slowed through upper 1.03 area overnight. We look for support intraday in the 1.0330/50 area, with the market inclined to look at USD dips as a buy.”
Presently, the USD/CAD is still growing at a rate of +0.61% above its opening Wednesday, having settled at 1.0336. Mataf.net analysts point to the next short-term resistance at 1.0433, given the already rapid influx in the exchange rate in overnight and European trading.
In the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M.
USD/CAD a buy should USD dip
According to the TD Securities Team, “The USD/CAD’s sharp rally slowed through upper 1.03 area overnight. We look for support intraday in the 1.0330/50 area, with the market inclined to look at USD dips as a buy.”
Presently, the USD/CAD is still growing at a rate of +0.61% above its opening Wednesday, having settled at 1.0336. Mataf.net analysts point to the next short-term resistance at 1.0433, given the already rapid influx in the exchange rate in overnight and European trading.