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31 Oct 2013
USD/CAD continues slide post US and Canadian data
FXstreet.com (Barcelona) - Having peaked today in the early hours at 1.0490, before selling off to post a low at 1.0421, USD/CAD is presently trading at 1.0434.
USD/CAD Economic Data
This afternoon has seen better than expected MoM GDP which came in at 0.3%, ahead of forecasts of 0.2% and previous reading of 0.6%. On the US side of the pair, Initial Jobless claims incrementally disappointed forecasts at 340K/339K, but down on the previous month of 350K. Continuing jobless claims climbed against previous and forecasts at 2.881M.
USD/CAD Technical Strength
The FXstreet.com OB/OS Index is neutral while the Trend Index is showing strongly bearish conditions. The RSI reads 32 at the moment and the ADX is at 27. On the same USD/CAD chart, the 200-period SMA is right now at 1.0400 and sloping higher. The exponential average closing price for the last 20 days is 1.0382 and is trending sideways.
How volatile has the USD/CAD been?
Standard Deviation Volatility Bandwidth is 59 pips and expanding on the hourly chart, while the ATR(14) prints 9 pips. The average movement for this session has been of 7 pips per hour in the last 4 weeks.
What are today’s key levels?
The central pivot point is located at 1.0473. Pivot supports for this pair are to be found at 1.0446 (S1), 1.0414 (S2) and 1.0387 (S3). Above, daily pivot resistances for this pair are to be found at 1.0505 (R1), 1.0532 (R2) and 1.0564 (R3).
Recent Events
Canada: Gross Domestic Product (MoM) (August): 0.3%
US Continuing Jobless Claims increase to 2.881M in October 18 from 2.85M the previous week
US: Initial Jobless Claims fell to 340K
USD/CAD Economic Data
This afternoon has seen better than expected MoM GDP which came in at 0.3%, ahead of forecasts of 0.2% and previous reading of 0.6%. On the US side of the pair, Initial Jobless claims incrementally disappointed forecasts at 340K/339K, but down on the previous month of 350K. Continuing jobless claims climbed against previous and forecasts at 2.881M.
USD/CAD Technical Strength
The FXstreet.com OB/OS Index is neutral while the Trend Index is showing strongly bearish conditions. The RSI reads 32 at the moment and the ADX is at 27. On the same USD/CAD chart, the 200-period SMA is right now at 1.0400 and sloping higher. The exponential average closing price for the last 20 days is 1.0382 and is trending sideways.
How volatile has the USD/CAD been?
Standard Deviation Volatility Bandwidth is 59 pips and expanding on the hourly chart, while the ATR(14) prints 9 pips. The average movement for this session has been of 7 pips per hour in the last 4 weeks.
What are today’s key levels?
The central pivot point is located at 1.0473. Pivot supports for this pair are to be found at 1.0446 (S1), 1.0414 (S2) and 1.0387 (S3). Above, daily pivot resistances for this pair are to be found at 1.0505 (R1), 1.0532 (R2) and 1.0564 (R3).
Recent Events
Canada: Gross Domestic Product (MoM) (August): 0.3%
US Continuing Jobless Claims increase to 2.881M in October 18 from 2.85M the previous week
US: Initial Jobless Claims fell to 340K