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February 28, 2023
After having ended yesterday at 1.3573, USD/CAD is down to 1.3569 today. Overall, a 0.03% move or 4 pips.
Canada GDP is next today at 13:30 UTC.
Highly important Pending Home Sales data from United States beat analyst expectations of 1% with a reading of 8.1%. Data for United States Core Durable Goods Orders published yesterday at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%.
Meanwhile, Canada Current Account (Q4) came out at -10.6 billion, while a consensus of analysts was expecting -11 billion.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: GBP/JPY gained 0.72% and is now trading at 165.34. GBP/NZD gained 0.47% and is currently trading at 1.9635. EUR/JPY is up 0.47%.
Furthermore, Canada GDP figure is projected at 0.1%. It previously stood at 0.1%; data will be released today at 13:30 UTC. Canada GDP Annualized (QoQ) (Q4) scheduled to come out today at 13:30 UTC. Canada GDP is expected today at 13:30 UTC.
Having established significant support at 1.1321 approximately 3 months ago, US Dollar-Canadian Dollar's share price has bounced 19.89% higher.
