Forex: USD/CAD falls 0.16% despite ISM and construction

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Forex: USD/CAD falls 0.16% despite ISM and construction

FITITOL--> FXstreet.com (Barcelona) - The greenback slid 0.16% against the loonie despite the announcement of various economic indicators in the US and ahead of speeches of monetary authorities in the US and Canada. The ISM manufacturing and prices paid indices reached 54.8 and 61, much better than was expected (53.0 and 59), respectively. Construction spending came short of expectations, growing only 0.1% (instead of 0.5%).

BoC governor Mark Carney should give a speech today while the Federal Reserve's Lockhart, Dudley and Plosser will be giving speeches today as well. Total vehicle sales will be announced towards the end of the day at 21:00 GMT. They should remain the same as last month's reading at 14.4 million.

The cross is currently trading at 0.9856, below 1.0043 (SMA200) with resistance at 0.9912, before 0.9953 and 1.0009 according to FXstreet.com pivot points on technical tools. On the downside, there is support at 0.9815, ahead of 0.9759 and 0.9718.