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April 15, 2023
Yesterday at a glance: USD/CAD ended Thursday at 1.3337. yesterday it went up to 1.3396 only to drop back, yet still managed to close at 1.3361.
This move comes while some more positive signs for US Dollar-Canadian Dollar are out as United States Core Retail Sales published yesterday at 12:30 UTC came out at -0.8%, falling short of the -0.3% projections and continuing its decline from the previous 0% figure. United States Retail Sales published yesterday at 12:30 UTC came out at -1%, falling short of the -0.4% projections and continuing its decline from the previous -0.2% figure.
At the same time, Canada Manufacturing Sales (MoM) (Feb) released yesterday at 12:30 UTC with a figure of -3.6, while the previous figure was 4.5.
A look at other currencies also shows bullish price action as USD/SGD is trading around 1.3306 after ending yesterday's session at 1.3222 (up 0.64% today). EUR/NZD leaps up 0.99% yesterday and closed at 1.7533.
Meanwhile, AUD/USD lost 1.1% yesterday and closed at 0.6786.
The currency pair has been trending lower for about a month. Having established significant support at 1.1321 approximately 5 months ago, US Dollar-Canadian Dollar's share price has bounced 17.8% higher.
