USDCAD unchanged, global markets are doing better.

By MoneyWay | Jan 31, 2019

Boosted by better-than-expected corporate earnings and the Federal Reserve’s dovish comments, equities are climbing along with oil. Oil is now over $55USD a barrel, heading for its biggest January gain on record, as new data showed OPEC’s output cuts starting to kick in.

The USDCAD although unchanged, had a big move yesterday, going from 1.3265 to 1.3145 on the FED’s stalling of interest rate hikes and higher oil prices. Today’s economic data stalled what could have been an  even stronger CAD, expect a narrow range today.

                                Support                                                                Resistance

USDCAD   1.3120, 1.3111, 1.3095                               1.3158, 1.3160, 1.3165

Currently             Close                     Range

USDCAD               1.3149                   1.3149                   1.3121-1.3165

EURCAD               1.5055                   1.5094                   1.5051-1.5119

GBPCAD               1.7270                   1.7247                   1.7225-1.7291

                                                                                                Prior                      Actual

CA:   Industrial Product Prices December               -0.8%                     -0.7%

         Monthly GDP November M/M                         0.3%                     -0.1%

                                                           Y/Y                             2.2%                       1.7%

US:   Jobless Claims wk1/26                                          200K                      253K

         New Home Sales November                              562K                      657K

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