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
Previous
