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USDCAD Steps Higher As US Equities Turn Negative

CANADA
  • USDCAD sees fresh impetus with SPX turning negative, as the pair pushes to 1.3451 for a US session high and close to overnight highs of 1.346.
  • Initial resistance is seen a little higher at 1.3475 (Feb 6 high) with recent gains considered corrective and support eyed at 1.3360 (Feb 8 low).
  • CAD sits bottom of the G10 FX pack today, coming ahead of tomorrow’s employment report plus US releases of note including CPI SA revisions and the preliminary U.Mich survey.

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