Forex: USD/CAD returns to opening levels at 0.9952/54
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USD/CAD
FXstreet.com (Barcelona) - The USDCAD has trade in a very confined 22-pip range Friday (0.9936-0.9958). Having pared its earlier losses, the pair has now retuned to opening levels to trade at 0.9952/54 at the time of writing.
Later today in the United States, the National Association of Realtors is scheduled to release Pending Homes Sales (YoY and MoM) data in the month of November at 15:00 GMT. In addition, the EIA Crude Oil Stocks Change (December 21) could lend some movement to the pair, slated for release at 16:00 GMT. Regarding the Canadian dollar, the price of crude has settled in the region of USD $91.20 or +0.36% at the time of writing.
In these moments, the cross as registered a slight advance of +0.02% Friday. Mataf.net analysts highlight the next supports 0.9916, followed by 0.9886 onto 0.9865. On the ascension or in the event of an uptrend, the USDCAD will encounter calculated resistance at 0.9967, then 0.9988, and 1.0018.
According to Research Analyst Gareth Berry at UBS, "Our outlook on the USDCAD is strictly neutral, with a focus on the upside with potential gains towards the 0.9968 mark."
Later today in the United States, the National Association of Realtors is scheduled to release Pending Homes Sales (YoY and MoM) data in the month of November at 15:00 GMT. In addition, the EIA Crude Oil Stocks Change (December 21) could lend some movement to the pair, slated for release at 16:00 GMT. Regarding the Canadian dollar, the price of crude has settled in the region of USD $91.20 or +0.36% at the time of writing.
In these moments, the cross as registered a slight advance of +0.02% Friday. Mataf.net analysts highlight the next supports 0.9916, followed by 0.9886 onto 0.9865. On the ascension or in the event of an uptrend, the USDCAD will encounter calculated resistance at 0.9967, then 0.9988, and 1.0018.
According to Research Analyst Gareth Berry at UBS, "Our outlook on the USDCAD is strictly neutral, with a focus on the upside with potential gains towards the 0.9968 mark."
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