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USD / CAD falls after failing to exceed 1.2700 in the previous data from Canada

  • The USD / CAD bounce towards 1.2700 ran out of steam.
  • Lower correction of the dollar, left the pair weakened.
  • Ahead: Canada GDP data and speeches by Fed officials.

The USD / CAD closed the first day of the week in negative territory, and on Tuesday it threatened with a recovery, but after reaching 1.2698, it reversed direction. The price has just fallen to 1.2644, just above the low of the Asian session. It is trading virtually unchanged for the day around 1.2650.

The US Dollar Index (DXY) has returned most of the previous gains and is around 91.15, after having reached 91.40. The decline in the dollar coincided with a slight improvement in stock markets throughout the world, and with a recovery in the price of metals and oil. WTI is up almost 1% at $ 60.80.

With regard to data, the data of December and fourth quarter GDP growth in Canada. The market consensus is for a growth of 0.3% in December. In the US with no big data, the calendar highlights presentations by Mary Daly, the president of the San Francisco Fed, and Fed governor Leal Brainard.

Technical levels

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