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Canadian housing starts fall more than expected
USD/CAD settled above the resistance at 1.2525 and is testing the next resistance at 1.2550.
While key stats put the Pound in focus, economic data from the Eurozone will also provide the EUR with direction. Up first, however, is the BoJ.
On Monday, the dollar was nearly unchanged versus the Loonie, but activity was very light as most markets in the United States were closed due to the Martin Luther King holiday. The 2-year and 10-year U.S. Treasury yields remained at elevated levels. Market participants are torn between elevated levels of inflation and softer than expected …
USD/CAD is moving lower at the start of the week.
It’s a quiet day ahead on the economic calendar, leaving the focus on key stats from China later this morning.
Import prices dropped in December the first decline since August
USD/CAD settled above the resistance level at 1.2530 and is testing the next resistance level at 1.2550.
The Canadian dollar weakened against its U.S. counterpart on Friday, giving back some of this week's gains, as the greenback broadly rebounded despite weaker-than-expected U.S. retail sales data. The loonie was trading 0.3% lower at 1.2560 to the greenback, or 79.62 U.S. cents, after trading in a range of 1.2470 to 1.2570. "It's been weighed down by a broad exodus of short USD positioning that was put on after the U.S. CPI report on Wednesday," said Erik Bregar, an independent foreign exchange analyst.
It’s a busier day ahead, with trade data from China in focus early on. Stats later in the day will put the EUR, the GBP, and the USD in the spotlight.