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March 01, 2023
USD/CAD drops from 1.3639 to 1.3606, losing 33 pips (0.24%) today.
United States's Crude Oil Inventories new data released of 1.17 million below its previous figure.
Canada GDP published yesterday at 13:30 UTC came out at -0.1%, falling short of the 0.1% projections and continuing its decline from the previous 0.1% figure. United States Crude Oil Inventories released today at 15:30 UTC is better than expected at 1.17 million but down from preceding data of 7.65 million according to new data.
Amid the market gloom, United States ISM Manufacturing PMI (Feb) released today at 15:00 UTC with a figure of 47.7, while the previous figure was 47.4.
In the meantime, negative performances are also seen in other pairs as GBP/NZD is down 219 pips from the beginning of the session and now trades around 1.9223.
Positive performances can be seen by looking at other currencies as EUR/GBP is up 0.9%. Having closed the previous session at 0.6187, NZD/USD is up 1.05% today to currently trade at around 0.6252.
Some optimism can drawn from the fact that United States Initial Jobless Claims projected to come out at 195,000 — worse than previous data of 192,000; data will be released tomorrow at 13:30 UTC.
After setting a supportive marker at 1.1321 around 3 months ago, US Dollar-Canadian Dollar is now trading 20.47% above this level.
