USD/CAD climbs to highs post-US data

The greenback is now gathering further pace vs. its Canadian neighbour, liftingUSD/CAD to fresh tops above the 1.2900 handle.

USD/CAD higher on upbeat data

Spot saw its upside renewed after US Retail Sales have surprised markets to the upside, expanding 1.3% on a monthly basis during April and leaving behind forecasts for a 0.8% gain.

Further results showed sales excluding the Auto sector advancing 0.8% MoM while Retail Control also followed suit, surpassing expectations.

The pair managed to revert the initial negative performance, now advancing further north of 1.2900 the figure, or daily peaks ahead of the Reuters/Michigan Index due later.

USD/CAD significant levels 

As of writing the pair is up 0.52% at 1.2910 and a breakout of 1.2996 (55-day sma) would open the door to 1.3015 (high May 9) and then 1.3219 (high Apr.5). On the flip side, the next support aligns at 1.2740 (20-day sma) followed by 1.2461 (2016 low May 3) and finally 1.2124 (monthly low Jun.24 2015).