Forex: USD/CAD in fresh highs around 1.0330 (Barcelona) - The Canadian dollar continues to depreciate against its fellow neighbor on Friday, as the ‘sequester’ looms, boosting the risk aversion and pushing the cross to the area around 1.0330, or 8-month highs.

Interesting day for the CAD as December GDP figures are due. Prior surveys expect the Canadian economic activity to post a monthly contraction of 0.2%, and to expand 0.6% on a yearly basis. The Canadian dollar would be under pressure as well via the US economy, as relevant data are due today – manufacturing ISM/PMI, PCE, Michigan index.

At the moment, the cross is advancing 0.20% at 1.0327 with the next hurdle at 1.0342 (high Jun.29) followed by 1.0363 (high Jun.28) and finally 1.0382 (high Jun.6).
On the other hand, a drop beyond 1.0294 (low Mar.1) would aim for 1.0217 (low Feb.28) and then 1.0206 (low Feb.25).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.