Data on Canada and the US

The US news block turned out to be reservedly negative. Mainly due to the data on basic orders for durable goods in the US (m/m) and the volume of orders for durable goods in the US (m/m), which were significantly lower than the forecast. This exerted a slight pressure on the US currency due to weak market activity.

Significantly lower GDP growth in Canada, which was 0.0% on a monthly basis for October, had a strong negative impact on the Canadian dollar.

As a result, the pair USD/CAD sharply strengthened, having returned above the level of 1.2750 and having played back half the decline on yesterday’s inflation data on Canada. The pair’s return above 1.2750 points to the resumption of the uptrend, which is traced from September.

Fig. USD/CAD. The current price is 1.2780.

Hanzenko Anton