US Dollar/Canadian Dollar is stationary, trading around 1.2839 .
A good end to the trading week, USD/CAD is up to 1.2839, after closing yesterday at zero. Overall, a 0% move or 12,839 pips this week. (Start trading US Dollar/Canadian Dollar at FXTM today).
Uptick comes while some more positive signs for US Dollar/Canadian Dollar are out as data for Canada Core CPI (MoM) (Apr) released Wednesday is better than expected with 0.7, but worse than previous figure of one. Following a previous reading of 5.75 million, Existing Home Sales (Apr) in United States released yesterday at 2:00 PM fell short of the 5.65 million figure expected by analysts with an actual reading of 5.61 million. Following a previous reading of 17.6, Philadelphia Fed Manufacturing Index (May) in United States released yesterday at 12:30 PM fell short of the 16 figure expected by analysts with an actual reading of 2.6.
Meanwhile, Canada New Housing Price Index (MoM) (Apr) published yesterday at 12:30 PM came out at 0.3, falling short of the 0.6 projections and continuing its decline from the previous 1.2 figure. Data for Canada RMPI (MoM) (Apr) was released yesterday at 12:30 PM suggests a downwards trend with -2, while previous data was 11.8.
Outlook for rest of the week: The market is looking forward to the release of new data: Canada Core Retail Sales (MoM) (Mar) is scheduled for Thursday. Canada Retail Sales (MoM) (Mar) is expected Thursday. United States's new Core Durable Goods Orders (MoM) (Apr) data will be available Wednesday. Data is expected to decline to 0.6 from its previous value of 1.2.
