Forex: USD/CAD upside capped in the 1.0160 area
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USD/CAD
FXstreet.com (Barcelona) - The cross has failed to follow through the 1.0160 level, retracing early profits as of writing in the 1.0150 region, ahead of US and Canadian data.
Risk associated assets are suffering the USD strength on Monday, as jitters in the euro zone persist and the weaker Chinese GDP figures still weight on the markets.
Canadian/Foreign portfolio investment, US NY Empire State man index, US retail sales and business inventories are expected later.
The cross is advancing 0.12% at 1.0149, with the next hurdle waiting at 1.0169 (MA10d) ahead of 1.0205 (MA21d) then 1.0251 (high Jul.12) and 1.0342 (high Jun.29).
On the flip side, a violation of 1.0110 (MA200d) would open the door to 1.0100 (low Jun.5) then 1.0092 (Lower Bollinger) and 1.0070 (MA100d).
Risk associated assets are suffering the USD strength on Monday, as jitters in the euro zone persist and the weaker Chinese GDP figures still weight on the markets.
Canadian/Foreign portfolio investment, US NY Empire State man index, US retail sales and business inventories are expected later.
The cross is advancing 0.12% at 1.0149, with the next hurdle waiting at 1.0169 (MA10d) ahead of 1.0205 (MA21d) then 1.0251 (high Jul.12) and 1.0342 (high Jun.29).
On the flip side, a violation of 1.0110 (MA200d) would open the door to 1.0100 (low Jun.5) then 1.0092 (Lower Bollinger) and 1.0070 (MA100d).
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