kiriss5678 Posted August 15, 2014 Report Share Posted August 15, 2014 COZforex: The US dollar was steady against its Canadian counterpart on Thursday, trading close to 2 week lows as the release of a disappointing US jobless claims report weighed on demand for the greenback. USD/CAD hit 1.0887 amid early US trade, the pair's lowest since July 31; the pair subsequently consolidated at 1.0907, easing 0.06%. COZFX strategist Nigel Boynton said, USD/CAD is predicted to find support at 1.09, and a drop through could take it to the next support line of 1.0883. Meanwhile, the pair is predicted to find its first resistance at 1.0938, and a rise through could take it to the next resistance line of 1.0959. In a report, the US Labor Department sait the number of individuals filing for initial jobless benefits in the week ending August 9 increased by 21,000 to 311,000 from the previous week’s revised total of 290,000. Analysts had expected jobless claims to rise by 5,000 to 295,000 last week. In economic news, the Teranet/National Bank house price index registered a rise of 1.1% in July, on a monthly basis, in Canada. In the previous month, the index climbed 0.9%. At the same time, markets were looking ahead to a revised Canadian employment report for July, due to be released on Friday after Statistics Canada announced Tuesday that a statistical error in the report had come to light and a review had been launched. Last Friday, Canada’s statistics agency said that the economy had added only 200 jobs last month, falling far short of expectations for jobs growth of 20,000. (COZ forex UK) Quote Link to comment Share on other sites More sharing options...
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