USD/CAD through 1.3400, daily highs

The greenback is now picking up further pace vs. its Canadian peer, lifting USD/CAD to the area of daily tops beyond 1.3400 the figure.

USD/CAD attention to data

Spot met extra buying pressure early in the European session on Tuesday following a better tone around the Dollar after a soft opening of European equities.

USD keeps the upbeat sentiment well and sound today, taking the pair to its second consecutive session with gains and at the same time challenging the area of 3-week tops in the 1.3400 neighbourhood.

CAD’s price action stays influenced almost exclusively by BoC-Fed policy divergence, relegating crude oil dynamics to a secondary role.

Looking ahead, Canadian trade balance figures for the month of February are due while Factory Orders and the speech by FOMC’s D.Tarullo (permanent voter, centrist) are expected in the US docket.

USD/CAD significant levels

As of writing the pair is gaining 0.18% at 1.3407 facing the next hurdle at 1.3496 (high Mar.14) followed by 1.3517 (high Mar.10) and then 1.3536 (2017 high Mar.9). On the flip side, a break below 1.3375 (low Apr.4) would aim for 1.3292 (100-day sma) and finally 1.3251 (50% Fibo of the 2017 upside).