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April 26, 2023After closing at 1.3624 yesterday, USD/CAD began today at 1.3628 with significant bullish sentiment driving USD/CAD's price action higher. So far today, price action has drawn out a distinct 1.3613 to 1.3642 range.
- United States Core Durable Goods Orders data will be released today at 12:30 UTC, with an expected decline to -0.2%.
Earlier data releases related to US Dollar-Canadian Dollar – United States New Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000. Highly important Consumer Confidence data from United States beat analyst expectations of 104 with a reading of 101.3.
Technical analysis of US Dollar-Canadian Dollar before macro data is released:
Coming up for US Dollar-Canadian Dollar — Canada Manufacturing Sales (MoM) scheduled to come out today at 12:30 UTC. Projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was -0.1%; data will be released today at 12:30 UTC.
As the markets get ready for more data to be released — EUR/AUD surges 1.03% to trade around 1.6725. GBP/NZD is up 0.69%. EUR/NZD is up 0.8%.
Having established significant support at 1.1321 approximately 5 months ago, US Dollar-Canadian Dollar's share price has bounced 20.34% higher.
