kenneth201

COZfx: USD/CAD almost unchanged after Canadian data disappoints COZforex: The US dollar was almost unchanged against its Canadian counterpart on Tuesday, as investors remained cautious before the results of the US presidential election, while downbeat housing sector data from Canada weighed on the local currency. USD/CAD hit 1.3344 during early US trade, the session low; the pair subsequently consolidated at 1.3359. In technical analysis, COZFX strategist Nigel Boynton said: USD/CAD was likely to find support at 1.3308, Monday’s low and resistance at 1.3418, Monday’s high. Markets were jittery ahead of the results of the US presidential vote, although sentiment remained mildly supported after the FBI informed Congress over the weekend that it had "not changed its conclusions" on the private email server maintained by Hillary Clinton. The news fuelled expectations that the Democratic candidate could win Tuesday’s election, which is seen as more source of stability for financial markets. Meanwhile, Statistics Canada reported that building permits dropped 7.0% in September, compared to expectations for a 5.6% fall. Building permits increased by 11.0% in August, whose figure was revised from a previously expected 10.4% gain. A separate report showed that housing starts increased by 192,900 units last month, disappointing expectations for a 195,000 rise. (COZ forex UK)