Forex: USD/CAD trading at 0.9858/60 after US data
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USD/CAD
FXstreet.com (Barcelona) - The USDCAD jumped on the heels of the US economic data release. After peaking briefly at 0.9868 (intraday maximum), the pair has eased slightly off of its highs to trade at 0.9858/60 at the time of writing. At this level the pair is operating +0.20% above its opening.
In the United States, the Producer Price Index (YoY) has climbed +1.3% in the month of December, relative to a consensus of +1.4%. In addition, the Producer Price Index ex-Food and Energy (MoM and YoY) has come in at +0.1% in December (vs. +0.2% projected) and +2.0% in December (relative to +2.1% expected) respectively. Retail Sales (MoM) yielded a result of +0.5% in December, beating estimates of +0.2%. Finally, Retail Sales ex Autos (MoM) has grown 0.3% in December, against expectations of +0.2%.
According to the ICN.com analyst team, the next resistances lie at 0.9875, onto 0.9895, and eventually 0.9910. Regarding a pullback, supportive measures will trigger at 0.9820, then 0.9800 (key support) and 0.9780.
In the United States, the Producer Price Index (YoY) has climbed +1.3% in the month of December, relative to a consensus of +1.4%. In addition, the Producer Price Index ex-Food and Energy (MoM and YoY) has come in at +0.1% in December (vs. +0.2% projected) and +2.0% in December (relative to +2.1% expected) respectively. Retail Sales (MoM) yielded a result of +0.5% in December, beating estimates of +0.2%. Finally, Retail Sales ex Autos (MoM) has grown 0.3% in December, against expectations of +0.2%.
According to the ICN.com analyst team, the next resistances lie at 0.9875, onto 0.9895, and eventually 0.9910. Regarding a pullback, supportive measures will trigger at 0.9820, then 0.9800 (key support) and 0.9780.
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