- Loonie unchanged after economic data from Canada.
- USD / CAD consolidates recent gains, despite setback.
The USD / CAD is falling on Tuesday after two days of major gains. In the previous day, the pair reached 1.2962, the highest level in a year. At this time, it is retreating but remains above 1.2900.
The dollar remains firm in the market supported by a rise in Treasury bond yields. But the best mood in the markets together with the rise in oil prices, play against the greenback against emerging currencies and those linked to commodities.
WTI trades above $ 70.00, earning almost 3%. For their part, the main Wall Street indices, rose on average 0.85%. The DXY is trading in neutral ground at 96.50.
There was a higher than expected rise in Canadian October retail sales, but the data had no impact on the market. The loonie remained unchanged, with the group that includes the AUD and NZD being the one that advanced the least.
Technically the USD / CAD remains bullish. A drop below 1.2900 could favor the loonie more. The next support is at 1.2865 and 1.2840. To the upside, a consolidation above 1.2940 will leave the way with few obstacles for further advances.
Technical levels
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