The greenback is exchanging gains with losses vs. its Canadian neighbor at the end of the week, taking USD/CAD to the 1.2475/80 band.
USD/CAD apathetic on data
The pair is staging a ‘doji-like’ candle so far today after US inflation figures disappointed expectations during September and retail sales came in mixed.
On the brighter side, advanced US consumer sentiment is expected to come in above expectations at 101.1 for the current month, giving some respite to the buck’s decline.
In the meantime, US-CA yield spread differentials continue to drive the sentiment around the pair for the time being, although the ongoing rally in prices of the WTI are also limiting occasional dips in CAD.
USD/CAD significant levels
As of writing the pair is gaining 0.02% at 1.2481 facing the next up barrier at 1.2511 (high Oct.13) seconded by 1.2599 (high Oct.6) and finally 1.2664 (high Aug.31). On the downside, a drop below 1.2431 (low Oct.12) would aim for 1.2424 (21-day sma) and then 1.2253 (low Sep.22).
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