USD/CAD tumbles to new 3-week Low

FXStreet – After an initial impetus to the brand of 1.36 at the beginning of the American business, and changed the currency pair USD/CAD , the direction, and collapsed on a new Three-week Low at 1,3540. Most recently, the Couple listed on 1,3544 and to 0.45 percent in the Minus.

In Canada, the consumer prices of 0.2 percent in the previous month to 0.4 per cent in the reporting month of April rose. In the annual comparison of the price pressure remained unchanged at 1.6 percent. Both data points were below expectations and initially provided for rate reductions in the Loonie.

The influence of the disappointing fancy economic data followed quite quickly, however, because of the Fed chief of St. Louis, James Bullard, said that the US Central Bank following a interest-rate increases in June, no further key interest rate this year. According to his pigeons are liable to comments the US Dollar Index once again diving station, which marked the lowest level since the Trumps electoral victory in 97,11. Finally, the Index closed on 97,17 and to 0.61 percent in the Minus.

In addition, the Outlook for Oil prices, the bull remains. The US variety of West Texas Intermediate stabilized above the psychologically important mark of 50 dollars and reached the highest level since may 24. April. Also, this circumstance makes the Loonie to appreciate.

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Technical Level

The next supports lie at 1.3500 (psychological level / 50-day line), 1,3455 (Tief 20. April) and 1,3400 (psychological mark). Resistors, however, are at 1.3600 (psychological level), 1,3665 (20-day line) and 1,3720 (High 15. To find may).

** FXStreet News Editorial, FXStreet**

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