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April 27, 2023USD/CAD slides down from 1.363 to 1.3594 today, losing 36 pips (0.27%).
United States's Pending Home Sales new data released of -5.2% below its previous figure.
Data for United States Initial Jobless Claims published today at 12:30 UTC came out at 230,000, beating projections of 248,000 and showing improvement over the preceding figure of 246,000.
On the flip side, Pending Home Sales in United States fell short of market expectations (0.5%) with a reading of -5.2%, continuing the decline from the previous figure of 0.8%. Highly important GDP data from United States beat analyst expectations of two with a reading of 1.1.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 1.8041, EUR/NZD lost 99 pips and is trading around 1.7942. EUR/CAD is down 57 pips from the beginning of the session and now trades around 1.499.
Though US Dollar-Canadian Dollar has been dropping, other pairs have been performing better: USD/CHF climbs 0.34% to trade around 0.8938.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming Canada GDP data is projected to fall short of market expectations with newly published data of 0.2%, following on from the preceding figure of 0.5%. New data is set to be published tomorrow at 12:30 UTC.
Furthermore, United States Core PCE Price Index (MoM) (Mar) is scheduled for tomorrow at 12:30 UTC.
As things stand, US Dollar-Canadian Dollar is 20.39% away from a significant low of 1.1321 first set 5 months ago.
