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USDCAD marks new high at 1.35650

USDCAD reaching new heights first time for the year 2019 at 1.35650 . Early sessions in the last day of the week, US gained some positive impact from the release of key events on both sides of the border. Canadian GDP is expected to rebound in March, with a gain of 0.4%, after a decline of 0.1%. The Raw Materials Price Index is expected to slow to 2.3%. In the U.S., consumer data also in the spotlight. The Federal Reserve’s preferred inflation gauge, Core PCE Price Index, is expected to improve to 0.2%. However, personal spending is projected to slow to o.2%, after a strong gain of 0.9% in the previous release. With the positive boost up, the pair managed to break the last high and and reached 1.35600. retesting the resistance turned support at 1.3550 for the third time in one hour time frame, USDCAD’s next bullish target would be 31 December, 2019 high at 1.36380.

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