Canadian dollar spikes lower across the board despite economic data and higher crude oil prices. USD/CAD retreats modestly to 1.3570 as US Dollar pulls back. The USD/CAD jumped to 1.3603, reaching the highest level since last Thursday and then pulled back to the 1.3570/1.3585 range. The move higher took placed despite better-than-expected Canadian economic data. The loonie is the worst performer among the commodity block. The Ivey PMIs in Canada showed a strong rebound in June to 58.2, above the 25.1 expected but CAD ignored the numbers. Not event crude oil prices are helping the loonie. The WTI barrel gains 0.50% and is trading near $41.00. Wall Street indexes are posting mixed results and gold is at fresh multi-year highs near $1800/oz. Despite all, USD/CAD is holding onto daily gains as it trades at 1.3585, up 50 pips for the day, but off highs. Levels to watch On the upside, a consolidation above 1.3590 in USD/CAD would clear the way for another test of 1.3600 and beyond. The next resistance is seen at 1.3625 (last week high). On the flip side, 1.3550/55 is the lower limit of the current range and also the 20-SMA in 4-hour chart, so a break lower would expose 1.3515 (weekly low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil Price Analysis: Break of the triangle pattern could take WTI to a new 17 week high FX Street 3 years Canadian dollar spikes lower across the board despite economic data and higher crude oil prices. USD/CAD retreats modestly to 1.3570 as US Dollar pulls back. The USD/CAD jumped to 1.3603, reaching the highest level since last Thursday and then pulled back to the 1.3570/1.3585 range. The move higher took placed despite better-than-expected Canadian economic data. The loonie is the worst performer among the commodity block. The Ivey PMIs in Canada showed a strong rebound in June to 58.2, above the 25.1 expected but CAD ignored the numbers. Not event crude oil prices are helping the loonie. The WTI barrel gains… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
