The Canadian maintains stability. Data on wholesale sales in Canada

The Canadian dollar maintains its position against the US dollar, after the publication of data on wholesale sales in Canada.

• According to the published data, the volume of wholesale sales in Canada increased by 0.1% in January, which is lower than analysts’ forecast at 0.7%, but still exceeds the previous value of -0.2%.

Also, this dynamics of the pair USD / CAD is connected with the strong position of the US dollar, which is counterbalanced by the rise in oil prices.

Technical analysis: Since the beginning of the trading week, the pair USD / CAD is moving in the flat range in the chart H1. If the instrument price is lowered and the price is fixed below 1.3047, one should expect its further decrease to 1.3000, 1.2963. In case of resumption of growth and consolidation of the price above the level of 1.3120, one should expect the price of the instrument to continue to increase to the levels of 1.3175, 1.3200.

Fig. USD/CAD. The current price is $ 1.3078.

Alexander Sivtsov