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FxWirePro: USD/CAD trades weak, market eyes BOC monetary policy

  • Major support – 1.2660
     
  • USD/CAD has broken the major support 1.2660 yesterday and declined till 1.26238. It is currently trading around 1.26683.
     
  • The Canadian economy has added 79500 jobs in the month Of Nov compared to forecast of 10000 and unemployment rate fell to 5.9% from a 6.3% level in Oct. Wage growth also gone up 2.8% yoy fastest pace in      19 months. Market awaits BOC monetary policy statement today and it expects hawkish statement from BOC due to positive economic data.
     
  • The pair has broken major support at 1.2660 (50- day MA) and any major weakness can be seen below that level. Any close below will drag the pair till 1.2600/1.2500.
     
  •   The major resistance is around 1.29167 top formed at Oct 27th low and any further bullishness can be seen only above that level. The minor resistance is around 1.2747 (20- day MA) and any break above will take the pair to next level till 1.2800/1.2825 (61.8% fibo).

It is good to sell on rallies around 1.2680-85 with SL around 1.2745 for the TP of 1.2580/1.2500.

 

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2017-12-18 08:05:21
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2017-12-18 08:01:28
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2017-12-18 08:00:58
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December 18 09:00 UTC Released

ITGlobal Trade Balance*

Actual

4.953 Bln EUR

Forecast

Previous

3.99 Bln EUR

December 18 09:00 UTC Released

ITTrade Balance EU*

Actual

0.666 Bln EUR

Forecast

Previous

0.469 Bln EUR

January 9 11:00 UTC 3179531795m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3179531795m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3179531795m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3179531795m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3179531795m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3179531795m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 86158615m

GBRPIX YY

Actual

Forecast

Previous

4.2 %

December 12 09:30 UTC 86158615m

GBPPI Input Prices MM NSA

Actual

Forecast

Previous

1 %

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