Canada Grows +0.3% in November – USD/CAD Tests Parity

4

Expectations stood on a growth rate of 0.2%. USD/CAD fell to parity but is bouncing back up.

Parity has provided support several times this week.

The Canadian dollar has been on the back foot since the dovish BOC decision.

USD/CAD is now trading at 1.0015, after sliding towards parity, which wasn’t broken. The pair only reached 1.0002.

Resistance appears at 1.0055, followed by 1.01. If parity is broken, 0.9950 is the next line, followed by 0.9880.

For more, see the Canadian dollar forecast.

In the US, jobless claims rose back to the higher range, and personal income surprised with a leap.

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

4 Comments

  1. Pingback: US Jobless Claims Jump to 368K, personal income leaps | Forex Crunch

  2. Pingback: USD/CAD Outlook February 4-8 | Forex Crunch

  3. Pingback: USD/CAD Outlook February 4-8 | Forex Crunch | Forex

  4. Pingback: USD/CAD Outlook Feb 25 – Mar 1 | Forex Crunch