CAD

USDCAD Technical Analysis - Choppiness Remains

• The price action in USDCAD remains choppy.

Canadian government fiscal year deficit cut in half

• Canada 2022-23 fiscal year deficit $41.31B vs $95.57B a year earlier

USDCAD up strongly today and moves toward next key target area

• Swing area between 1.3650 to 1.36674

USD/CAD stretches higher as oil slumps and the US dollar climbs

• USD/CAD rises to the highest since May 3

USD/CAD buyers hopeful on latest upside break

• The pair has been rather choppy in the last two months but did buyers finally catch a meaningful technical break this week?

Canada April producer price index -3.5% versus -1.8% expected

• Canada April producer price index

USDCAD Technical Analysis - Choppy Trading

• The price action in USDCAD remains choppy.

The table is set for the buyers and sellers in the USDCAD. Traders await the next shove.

• Little movement in the USDCAD today

USDCAD trades near converging cluster of MAs

• USDCAD trades near 100 hour moving average, 200-day moving average, and 200 hour moving average

Canada retail sales March -1.4% versus -1.4% expected

• Canada retail sales for March 2023

Canada new housing price index for April -0.1% versus -0.1% estimate

• Canada new housing price index for April 2023

Macklem and Rogers from the Bank of Canada will be speaking on Thursday, 18 May 2023

USDCAD moves below series of MAs today with one more to go

• Tests the 200 hour MA

USD/CAD goes on a 50-pip round trip. What's next.

• USD/CAD back to roughly flat on the day

Canada April CPI 4.4% YoY versus 4.1% expected

• Details of Canada's CPI for the month of April 2023