In the United States, Durable Goods Orders in the month of September rose +9.9%, against consensus expectations of only +6.9%. Moreover, Durable Goods Orders ex Transportation have grown +2.0% in September, relative to estimates of only +0.8%. Initial Jobless Claims have reported a figure of 369K, marking a slight improvement over the projected result of 370K. Finally, Continuing Jobless Claims have yielded a result of 3.254M, against consensus estimates of 3.255M.
In regards to the Canadian dollar, the price of crude has certainly conspired against the pair, as crude prices have settled in the region of USD $86.70 or +1.13% on the day.
Briefing the technicals, the analyst team at Mataf.net calculates initial support at 0.9898, then 0.9858, and finally 0.9828. In the event of a prolonged movement to the upside, the USD/CAD will encounter resistive means at 0.9968, followed by 0.9998 and 1.0038.