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7 Mar 2013
Forex: USD/CAD above 1.0300 ahead of Canadian data
The Canadian dollar is posting meager gains against its fellow neighbor on Thursday, ahead of the Canadian external sector results and the Building Permits. Prior surveys expect a trade deficit of $600 million and permits to expand 5.3% on a monthly basis during January.
In the same tone, the CAD would be under pressure as the US trade balance figures and the weekly report on the labor market would be in the limelight.
At the moment USD/CAD is losing 0.07% at 1.0315 with the next support at 1.0301 (low Mar.1) ahead of 1.0255 (low Mar.6) and then 1.0217 (low Feb.28).
On the opposite direction, a break above 1.0337 (high Mar.6) would bring 1.0343 (2013 high Mar.1) and then 1.0363 (high Jun.28 2012).
In the same tone, the CAD would be under pressure as the US trade balance figures and the weekly report on the labor market would be in the limelight.
At the moment USD/CAD is losing 0.07% at 1.0315 with the next support at 1.0301 (low Mar.1) ahead of 1.0255 (low Mar.6) and then 1.0217 (low Feb.28).
On the opposite direction, a break above 1.0337 (high Mar.6) would bring 1.0343 (2013 high Mar.1) and then 1.0363 (high Jun.28 2012).