USD / CAD continues its gains above 1.26 following US and Canadian data
USD / CAD continues its gains above 1.26 following US and Canadian data

According to the US, the weekly first unemployment claims fell by 12,000 in the week of 12 August to 232,000, better than 240,000 anticipates. US industrial production fell 0.2% in July from 0.4% in June, while capacity utilization remained at 76.7%. Following the data, the US Dollar Index maintained its daily gains and is trading at 93.75 with a gain of 0.35%.

On the other hand, Canadian manufacturing sales fell 1.8% in July, after a 1.1% increase in June and a decrease in sales of petroleum and coal products.

Meanwhile, crude oil prices continued to be under pressure on Thursday, West Texas Intermediate, trading at $ 46.50, the lowest level since July 25. It has made it difficult to track back losses in the face of commodity-related CAD’s competitors.

Later in the session, Dallas Fed President R. Kaplan and Minneapolis Fed President N. Kashkari are expected to speak.
The USD / CAD pair is currently trading at 1.2652 with a gain of 0.27%.

Significant technical levels for USD / CAD
Resistance at levels of 1.2650 (daily peak), 1.2700 (psychological level) and 1.2770 (50-DMA), resistance at 1.2585 (daily bottom), 1.2500 (psychological level) and 1.2415 (July 27 bottom). In the daily chart, the RSI’s indictor indicates that the psychological level is horizontal, which means that the parity can be difficult to find near-term.



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