The USD/CAD pair was observed to remain in the range of 1.3470 to 1.3490 levels. The early hours displayed a wave in the pair. The USD/CAD pair crossed its opening level 1.3477 and remained above this level. Currently, the pair was trading around 1.3485 levels at 08:55 GMT.

The Green Money dropped down with 0.12 levels during the Asian session. During 09:00 GMT the US currency was trading around 98.10 levels. The USD Index investors stay positive on the almost-completed US-Sino Trade agreement.

The crude oil prices slipped down reaching at 64.35 levels in the morning session. The significant fall in the crude price followed after the drop in Chinese imports from Iran and Saudi. China’s stance to reduce oil imports might affect the loonie pair drastically.

USD/CAD Significant Events

CAD Specific Events

The Canadian economic calendar does not gather any significant event for today. However, some major US events line up for the day.

USD Specific Events

12:30 GMT

At 12:30 GMT, The US Census Bureau will broadcast the Q1 Annualized GDP (High Volatile). The consensus expects the numbers to come around 2.1 percent to the previous 2.2 percent.

At 12:30 GMT, the US Department of Commerce will release the following reports:

• Q1 GDP Price Index: The street analysts takes on bearish stance on the numbers to appear 0.6 percent lower than the previous 1.9 percent
• Q1 QoQ Personal Consumption Expenditure Prices: The market remains bearish with their estimates to reach near 1.3 percent
• QoQ Core Personal Consumption Q1: The consensus expects the numbers to decrease with 0.2 percent.

14:00 GMT

The University of Michigan will publish the Consumer Sentiments for April. The street analysts expect numbers to reach around 97 percent to the prior 96.9 percent.

Technical Analysis

The Loonie pair was hovering near the three-month top levels in the Asian session. The pair had touched the 1.3516 levels, after breaking the 1.3497 resistance levels. On the upper side, the pair has 1.3658 levels as the next target. On the flipside, there are 1.3300 and 1.3130 support levels on the downward path. The significant 200-days and 100-days SMA stood lower to the pair, showing bullish interest.