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May 25, 2023After dipping down to 1.3582, USD/CAD regains earlier losses and goes up to 1.364.
This move comes while some more positive signs for US Dollar-Canadian Dollar are out as highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.
Nevertheless, highly important GDP data from United States beat analyst expectations of 1.1 with a reading of 1.3.
Meanwhile, Canada Manufacturing Sales (MoM) released today at 12:30 UTC with a figure of -0.2, while the previous figure was 0.7.
While US Dollar-Canadian Dollar is up today, these currencies are lagging behind: EUR/JPY is trading around 150.04 (down 18 pips). USD/JPY is trading around 139.88 (down 17 pips).
Other currencies are showing mixed performance as GBP/JPY trades around 172.37, with no major change.
Positive indicators for US Dollar-Canadian Dollar are expected going forward as projections for United States Core Durable Goods Orders are set for a continuation of decline with 0% while previous data was 0.3%; data will be released tomorrow at 12:30 UTC.
Furthermore, the market is looking at Canada Wholesale Sales (MoM) is scheduled for tomorrow at 12:30 UTC. United States Core PCE Price Index (MoM) (Apr) is expected tomorrow at 12:30 UTC.
Having set a significant low of 1.1321 6 months ago, US Dollar-Canadian Dollar is trading 20.46% higher.
