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June 29, 2023
Trading lower, USD/CAD is currently down 1 pips as it ranges between 1.3112 and 1.3285 so far today.
Highly important GDP data from United States beat analyst expectations of 1.4 with a reading of two. Highly important Initial Jobless Claims data from United States beat analyst expectations of 266,000 with a reading of 239,000.
In contrast, positive data for US Dollar-Canadian Dollar reported earlier when highly important Pending Home Sales data from United States beat analyst expectations of -0.5% with a reading of -2.7%.
Mixed performances are seen by currencies as EUR/JPY moves 0.07% to trade around 157.33. USD/JPY moves 0.03% to trade around 144.79.
Furthermore, Canada BoC Business Outlook Survey is scheduled for tomorrow at 14:30 UTC. Canada GDP is projected to outperform its last figure with 0.2%. It previously stood at 0%; data will be released tomorrow at 12:30 UTC. United States Core PCE Price Index (MoM) (May) will be released tomorrow at 12:30 UTC.
The currency pair has been trending lower for about a month. As things stand, US Dollar-Canadian Dollar is 17.03% away from a significant low of 1.1321 first set 7 months ago.
