FXStreet (Edinburgh) – The Canadian dollar is posting meagre losses vs. its American neighbour on Thursday, with USD/CAD navigating the mid-1.3200s so far.
USD/CAD indifferent on data
The pair paid little attention to the results in the US docket today, showing in line Initial Claims during the week ended on September 4 and a deeper contraction in both Export and Import prices during August.
On the Canadian side, second-tier releases showed Capacity Utilization ticking lower to 81.3% from 82.7% and New Housing Price Index rising 0.1% vs. 0.2% expected.
Ahead in the session, the weekly report on crude oil stockpiles by EIA is due, with consensus expecting an increase of 0.167M barrels. The barrel of WTI is currently advancing near 1% around$44.60.
USD/CAD levels to consider
At the moment the pair is losing 0.08% at 1.3247 with the next support at 1.3154 (low Sep.9) followed by 1.3116 (low Aug.31) and then 1.3156 (low Aug.21). On the upside, a break above 1.3290 (high Sep.10) would open the door to 1.3310 (high Sep.8) and finally 1.3327 (high Aug.31).
(Market News Provided by FXstreet)