Friday’s trade saw USD/CAD within the range of 1.2414-1.2549. The
pair closed at 1.2526, gaining 0.73% on a daily basis. USD/CAD
depreciated 1.62% for the whole week, or the first loss in the past 11
weeks. This has also been the most considerable weekly loss since the
week ended on June 2nd 2013.
At 12:37 GMT today USD/CAD was down 0.24% for the day to trade at 1.2497. The pair touched a daily low at 1.2483 at 12:17 GMT.
FundamentalsCanadaHousing Starts Housing starts in Canada probably dropped to the seasonally adjusted annual level of 177 500 in January, according to expectations. If so, this would be the lowest number of housing starts since March 2014, when a level of 156 600 was reported. In December the number of housing starts was at 180 600. Housing starts are considered as a key indicator, reflecting the strength of the nation’s housing sector. In case the number of housing starts decreased more than expected, this might have a bearish effect on the Canadian dollar. Canada’s Mortgage and Housing Corporation will release the official numbers at 13:15 GMT.
Read more at Click here / www.trade4x.net
At 12:37 GMT today USD/CAD was down 0.24% for the day to trade at 1.2497. The pair touched a daily low at 1.2483 at 12:17 GMT.
FundamentalsCanadaHousing Starts Housing starts in Canada probably dropped to the seasonally adjusted annual level of 177 500 in January, according to expectations. If so, this would be the lowest number of housing starts since March 2014, when a level of 156 600 was reported. In December the number of housing starts was at 180 600. Housing starts are considered as a key indicator, reflecting the strength of the nation’s housing sector. In case the number of housing starts decreased more than expected, this might have a bearish effect on the Canadian dollar. Canada’s Mortgage and Housing Corporation will release the official numbers at 13:15 GMT.
Read more at Click here / www.trade4x.net
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