Quantcast

USD/CAD erases losses after Canadian data

FXstreet.com (Córdoba) – The USD/CAD rose to retest daily highs after Canadian data showed current account deficit unexpectedly widened in the third quarter while industrial product price dropped less than anticipated.

The USD/CAD rebounded from a low of 1.0570 during the European session and climbed to a high of 1.0597 most recently but it has failed to break above the 1.0600 mark amid low liquidity given the US Thanksgiving holiday. At time of writing, the USD/CAD is trading at the 1.0595 zone, a few pips above its opening price.

USD/CAD technical levels

In terms of technical levels, the USD/CAD could …read more