USDCAD on Thursday dropped -0.02% to 1.35750. Pair in consolidation. What we know.

USDCAD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.02%	-2.6 Pips
Week to-date	0.1%	12.9 Pips
September	0.64%	85.9 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD The Index of Consumer Sentiment| Sep flash

What happened lately

The U.S. Monthly Treasury Budget Statement in August dropped to -$380 billion compared to -$244 billion in July. Source: Bureau of the Fiscal Service
🇺🇸 In the week ending 07 September, U.S. Initial Unemployment Insurance Claims rose to 230K compared to previous figure 228K (revised from 227K) Source: Department of Labor
🇺🇸 U.S. Producer Price Index (12-mth) in August dropped to 1.7% compared to the revised July figure of 2.2%. Source: Bureau of Labor Statistics
🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) remained unchanged at 2.4% in August compared to July’s report. Source: Bureau of Labor Statistics
🇺🇸 U.S. Producer Price Index (1-mth) for August rose to 0.2%, up from 0.1% in July. Source: Bureau of Labor Statistics
In August, the U.S. PPI excluding Food and Energy sectors increased to 0.3% from the revised July figure of -0.2%. Source: Bureau of Labor Statistics
🇺🇸 The U.S. Consumer Price Index (CPI) inflation rate for August remained steady at 0.2%, unchanged from the rate reported in July. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate over 12-month period for August decreased to 2.5% from 2.9% in July. Source: Bureau of Labor Statistics

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What can we expect from USDCAD today?

USDCAD on Thursday dropped -0.02% to 1.35750. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDCAD looks mixed as the pair is likely to consolidate above 1.35552 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.36044 or trades above daily pivot 1.35798. Break above could target R1 at 1.35996. While to the downside, we are looking at 1.35552 (S1) and daily low of 1.35600 as support levels. USDCAD need to break on either side to indicate a short-term bias. A close below 1.35600 would indicate selling pressure.

For the week to-date, take note that USDCAD is mixed as compared to the prior week.

Key levels to watch out:

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