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USD/CAD through 1.3800 post-US CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback is advancing further vs. its Canadian neighbour today, now sending USD/CAD through the 1.3800 barrier, or session peaks.

    USD/CAD stronger on data

    The pair found its upside momentum accelerated after US inflation figures gauged by the CPI showed headline consumer prices advancing more than expected during January, up 1.4% on a yearly basis and coming in flat inter-month. Core CPI has also followed suit, rising 0.3% MoM and 2.2 on an annual basis.

    On the Canadian side, the CPI has also surprised to the upside, advancing 0.2% on a monthly basis and 2.0% YoY. The negative surprise has come from December’s Retail Sales, contracting 1.6% MoM and 2.2% YoY.

    USD/CAD significant levels

    As of writing the pair is up 0.51% at 1.3821 and a surpass of 1.3916 (20-day sma) would expose 1.3968 (55-day sma) and then 1.4327 (high Jan.26). On the other hand, the next support aligns at 1.3635 (low Feb.4) ahead of 1.3616 (100-day sma) and finally 1.3232 (200-day sma).
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