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USD/CAD firmer, advances to 1.3200

FXStreet (Edinburgh) - The US dollar is trading on a firmer footing vs. its Canadian peer on Thursday, lifting USD/CAD to the 1.3200 neighbourhood.

USD/CAD focus on US docket, FOMC

Spot continues to revert part of Wednesday’s deep sell-off to weekly lows near 1.3160, currently nearing the 1.3200 handle as markets get ready to the FOMC meeting due later.

In the meantime, and apart from the FOMC gathering, the US docket will comprise the usual weekly report on the labour market, Housing Starts, Building Permits and the Philly Fed Manufacturing Survey for the last month.

USD/CAD levels to consider

The pair is now up 0.22% at 1.3203 and a break above 1.3261 (high Sep.16) would aim for 1.3290 (high Sep.10) and finally 1.3310 (high Sep.8). On the flip side, the next support aligns at 1.3166 (low Sep.17) ahead of 1.3154 (low Sep.9) and then 1.3116 (low Aug.31).

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