The Canadian is stable. Sales in the manufacturing sector of Canada

The Canadian dollar remains stable against the US dollar, despite a decline in sales in the industrial sector of Canada.

• According to published data, the volume of sales decreased by -0.4%, against growth in September at the level of 0.4%.

In turn, the Canadian currency is supported by yesterday’s comments of the head of the Bank of Canada, Poloz, as well as the continued positive dynamics of oil prices. See “Opinion on the USD/CAD pair. Waiting for the speech.”

Technical analysis: The pair withdrew from the triangle and consolidated below the 1.2790 mark, justifying yesterday’s expectations. It is too early to talk about reversal of the trend in the short term, the price of the instrument should be fixed below the level of 1.2670. One should consider the main support levels at 1.2720; 1.2670; the resistance levels are 1.2820; 1.2860.

Alexander Sivtsov