Wednesday, 21 January 2015

Forex Market: USD/CAD daily trading forecast

Yesterday’s trade saw USD/CAD within the range of 1.1932-1.2117. The daily high has also been the highest level since April 29th 2009. The pair closed at 1.2114, gaining 1.47% on a daily basis.
At 8:20 GMT today USD/CAD was down 0.17% for the day to trade at 1.2091. The pair touched a daily low at 1.2074 at 7:00 GMT.

Fundamentals

United States

Housing Starts, Building Permits
The number of housing starts in the United States probably increased to 1.040 million in December from the seasonally adjusted annual rate of 1.028 million during the prior month. November’s figure has been influenced by a 5.4% drop in single-family homes. Single-family housing starts in November were at a rate of 677 000, or 5.4% below the revised figure of 716 000 in October. The November rate for units in buildings with five units or more was 340 000, according to data by the US Census Bureau.
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